Pay off the collection account or let it age off

[aerochick31093]

I was hoping it was going to be one of the easier ones. Did you send a DV directly to Penn? If it is not yours that is the first step I would take. If it is yours, I would send a pfd letter to Penn and see if they respond. If no response, and you have the money to pay it, I would go ahead and pay it and then start sending good will letters to have them remove it. A paid collection looks better on the credit report than an unpaid one imo

[Anonymous]

Yes I strongly believe its not mines based on the address they were giving me. I'm willing to pay the lousy $180.00 if this will help my score. If this will hinder me from rebuilding my credit then I would like to leave it alone. I read reviews that I can loose points but not sure how many vs leaving it alone. I really appreciate all the help I'm receiving.

[aerochick31093]

What is the drop off date ? Everyone's credit profile is different. I had 2 collections on mine and when I paid them off, myscore went up. I was able to gw them off the report 6 months later for one of them and the other took about a year. No telling how many letters I sent them

[Anonymous]

It's due to remain on my file till 2019

[aerochick31093]

 I don't know anything about filing fraud reports if it's not yours,,maybe someone else can chime in about that. If somehow it ends up being yours, I would keep sending them pfd's for now and maybe it will end up in the right persons hands.

[Anonymous]

I have found a PFD letter on line an have switch a few words around an replace them with my own. Can you guys an gals tell me if this would be a good start.

Penn Credit Corporation
916 S 14th St,
Harrisburg, PA 17104
(717) 238-7124
Re: Collection for Account #: ***********234
Amount: $180.00

To Whom It May Concern:

This letter is to inform you that I am unaware of the alleged account number listed above, as I have never heard from you regarding this account. The account number listed above was obtain from my Experian credit report.

In the spirit of goodwill, I am asking to pay this account IN FULL if you agree to immediate deletion of this account from any and all credit reporting agencies (Equifax, Experian and TransUnion). The purpose of this settlement is merely to have this item removed from my credit files. It is not to be construed as an acknowledgment of liability for this debt in any form.

 If you agree to the terms and accept this agreement, certified funds for the settlement amount of one hundred, eighty-dollars, ($180.00) will be sent to Penn Credit Corporation in exchange for full deletion of ALL references regarding this account from my credit files and full satisfaction of the debt. As certified funds will be used for payment, I am asking for the deletion of this account from the credit reporting agencies.

If Penn Credit Corporation agrees to delete ALL information regarding this account from the credit reporting agencies following receipt of payment as specified above, please prepare a letter on your company letterhead explicitly agreeing to the same terms as the above settlement offer and have it signed by an authorized representative of Penn Credit Corporation. It will be implied that this letter shall constitute a legally binding contract, enforceable under the laws of my state.
Please address all correspondence regarding this account to

Mark
111 who cares
New York NY

[Creditwiser]

I have had success in the past where CA's flat out say they will not delete on the phone. I pay it anyway and soon after another dispute, they delete it. Most just want their money. If I recall the last time I had success it was with Midland Credit Mngmt.

I think your letter looks good but Ive only ever done this via phone.

[Anonymous]

Looks good.  Make sure to get their agreement in writing.

[Anonymous]

I will wait to send this out as I must see what happens with Eq an TU. As of right now,  they are both still in dispute with Penn Credit. 

[Anonymous]

Well I just thought I would give a update. I was dealing with a credit agency called "Penn Credit Corp". I originally noticed there was a CA In the amount of $180.00 on all 3 CR.  I called a few times asking for a pay to delete. They kindly refused. I explained that I have no knowledge of the account but am seriously willing to pay the small amount in exchange for full deletion. Once again they decline an said if it's not your why pay. Well true, but it such a small amount an I just want it off. Well I ended up contacting the company that the account was originated from an sent them proof that I was over 3000 miles away at the time the account was created. I also sent them a copy of my utility bill, lease agreement, pay stub an a affidavit dating around the time the account was opened. Well they found the account to not belong too me so it's been removed. How long will it take to update to all 3 bureaus?