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Issues with getting letters from creditors (diversified credit)

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Anonymous
Not applicable

Issues with getting letters from creditors (diversified credit)

I agreed a week ago to settle my payment I owe to Sprint through diviersified 510.00 with a really nice person over there, I asked that I would need a email stating the agreement of 4 payments showing the agreement along with a letter stating that when it is paid in full they will report as paid in full as this is not a settlement, they will report to both agencys. Now he says his supervisor says that they only send that letter out once the debt is paid showing that they will now notify the crditors, is this OK to deal with as I can show the breaus I have paid in full after its all said in done, but i have heard to get a letter first or get a template sending them over what I am looking for.

 

How is it the normal procedure here, I want to setup an arrangement but to make sure that I have all my bases covered.

 

PS. Sprint will not longer deal with me.

Message 1 of 7
6 REPLIES 6
Anonymous
Not applicable

Re: Issues with getting letters from creditors (diversified credit)

Is this a pay for delete agreement or a paid in full agreement?
Message 2 of 7
RobertEG
Legendary Contributor

Re: Issues with getting letters from creditors (diversified credit)

You are apparently agreeing to a settlement for less, with the condition that they report paid to the CRA, with no reporting of paid for less?

Message 3 of 7
takeshi74
Senior Contributor

Re: Issues with getting letters from creditors (diversified credit)


@Anonymous wrote:

 

How is it the normal procedure here, I want to setup an arrangement but to make sure that I have all my bases covered. 


We highly recommend a PFD.  Paid in full won't help much score-wise.  Definitely check out the Rebuilding subforum.

Message 4 of 7
Anonymous
Not applicable

Re: Issues with getting letters from creditors (diversified credit)

Can someone please send me a link for a pay for delete template. 

Message 5 of 7
Anonymous
Not applicable

Re: Issues with getting letters from creditors (diversified credit)

and to respond to the questions above, I meant, I was willing to pay in full but wanted a letter stating that when it was paid in full, of course over a few months they would report it as paid in full...vs a pay for settlement. I thought when you pay for a settlement it does not come off your credit report. 

Message 6 of 7
gdale6
Moderator Emeritus
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