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!!! Please Help !!! Stopping a CO from appearing on CR...

New Member

!!! Please Help !!! Stopping a CO from appearing on CR...

Hi guys, doing some damage control on my credit report and I have a question. I owed ACE Cash Express about $765, called this morning to pay it off in full before it hit my credit report and it turns out they sold it to another collection agency in 2011. This company hasn't put anything on my CR either. When I get ahold of this company, how much do I try to settle for and when they agree on an amount, do I get it in writing or an e-mail first? Thanks for your input!

Message 1 of 5
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Senior Contributor

Re: !!! Please Help !!! Stopping a CO from appearing on CR...

GET IT IN WRITING.

 

As part of the 'settlement' ask them to NOT put it on your CR's.  I would offer them 30% and see where it takes you.

 

What is the SOL for this in your state? 

 

 

Message 2 of 5
New Member

Re: !!! Please Help !!! Stopping a CO from appearing on CR...

6 years unfortunately. I'm not willing to not pay it, as my fiance and I are getting a mortgage around Jan 1, 2015, so I am trying to square everything away. Plus it's never been reported on my CR and I'd like to keep it that way!

 

I've been itching to pay this off, it's disappointing I can't take care of it today. If I call and have them e-mail me, isn't that in writing enough to have proof?

 

Thanks

Message 3 of 5
New Member

Re: !!! Please Help !!! Stopping a CO from appearing on CR...

Bump

Message 4 of 5
Senior Contributor

Re: !!! Please Help !!! Stopping a CO from appearing on CR...


Strummin365 wrote:

Hi guys, doing some damage control on my credit report and I have a question. I owed ACE Cash Express about $765, called this morning to pay it off in full before it hit my credit report and it turns out they sold it to another collection agency in 2011. This company hasn't put anything on my CR either. When I get ahold of this company, how much do I try to settle for and when they agree on an amount, do I get it in writing or an e-mail first? Thanks for your input!


You want it in writing on a their company letter head. It looks fairly new, if you try to settle it might hit your credit reports as settled for less which does not look good on a manual review with a LO. I would ask to pay it in full and not report. If they still report it atleast it looks better to the LO.

Message 5 of 5