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deuce001
Posts: 4
Registered: ‎05-12-2012
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Settlement Letter - Next steps?

[ Edited ]

I recieved an offer from ProCollect out of Dallas, Texas.  The letter is from a 3rd or 4th party creditor on this debt who has taken on my account for a delequent bill to an old apartment compex.  The "original balance" is listed as $481.45.  They are offering to allow me to pay only $240.72+$7.50 (collection fee) and they will "delete my account from my credit report."

 

Is there a next step I should take?  Should I ask for a more implict promise of this credit report deletion?  I would hate to pay this debt for the account to only read as a negotiated debt or some such and not be removed.  Removal would be ideal.

 

Thanks for the help!

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llecs
Posts: 32,880
Registered: ‎08-04-2007
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Re: Settlement Letter - Next steps?

For sure ProCollect is reporting?

 

Is it only reporting to one CR, or all 3?

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deuce001
Posts: 4
Registered: ‎05-12-2012
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Re: Settlement Letter - Next steps?

I have only seen the TU and EQ report recently.  The debt is set to fall off 07/15 on both.  I just double checked, it is "ProCollect Inc." listed on both reports.

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llecs
Posts: 32,880
Registered: ‎08-04-2007
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Re: Settlement Letter - Next steps?

I'd check EX too. If I had that, and if it reported on EX too, then I'd have them resend that letter with a specific mention they'd delete on all 3 vs. "delete from my credit report" which infers one report.

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deuce001
Posts: 4
Registered: ‎05-12-2012
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Re: Settlement Letter - Next steps?

[ Edited ]

Good call.  That verbage is indicitive of only a single account.  I will do the footwork and post my results.  Thanks!

 

On a side thought, is a fax acceptible?  Or should I request a traditional mailed letter?  Does the letter have to be actually signed?

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RobertEG
Posts: 17,456
Registered: ‎03-19-2007
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Re: Settlement Letter - Next steps?

Have other debt collectors also reported a collection on the debt, or is this the only collection relevant to the debt?

CR deletion would be significant if it erased all reported collection on the debt, but less significant if others still remain.

 

As for securing written promise in advance, sure, it is always prudent to get written confirmation.

But if they are reluctant, will it be a show-stopper? It sometimes comes down to a calculated risk......

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deuce001
Posts: 4
Registered: ‎05-12-2012
0

Re: Settlement Letter - Next steps?

No other references to this debt are on my reports.  I have seen a letter for at least one other company who held this debt prior to this one but I believe they never reported.

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llecs
Posts: 32,880
Registered: ‎08-04-2007
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Re: Settlement Letter - Next steps?


deuce001 wrote:

 

On a side thought, is a fax acceptible?  Or should I request a traditional mailed letter?  Does the letter have to be actually signed?



IMO, faxing PFDs are OK, and getting their reply through a fax is OK too. IMO, I don't think it's necessary for them to sign it, so as long as you can prove the source is from them.


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