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*** UPDATE **** I think my strategy worked!!!

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guiness56
Epic Contributor

Re: What do you think of this strategy? MARS Inc.

Yes, they can do that.  Withdraw based on no debt being owed any longer.  But, they don't have to.  They can just update to paid and closed.

 

It depends on the CA too.  Some will delete.

Message 11 of 29
webhopper
Moderator Emeritus

Re: What do you think of this strategy? MARS Inc.

*** UPDATE ***

 

Guys I think my strategy worked Smiley Happy

 

My husband just received the following letter from the Law Office

 

 

Law Office Header with Name and address

 

April 9, 2013

 

Mr. Webhopper

Our Address

Our City, State, Zip

 

    Re: Attorney Fees and Costs Balance

 

Dear Mr. Webhopper,

 

I am in receipt of your letter dated April 6, 2013.  The first billing was sent to you at the address we had on file for you on April 12, 2010, with a second letter on July 1, 2010 and then our final letter on October 22, 2010.  Our final leter clearly states your account would be forwarded to collections if payment was not received within thirty (30) days. We did not receive a response to any of our letters.

 

On May 2, 2011, well after the 30 days your file was forwarded to collections.

 

On April 1, 2013, we received payment in full from you.  The collection company has been notified to stop all collection procedures.

 

Respectfully Yours,

 

Law Office

 

 

 

Our response Letter:

 

04/11/2013

 

 

Mr. Webhopper

Address

City State Zip

 

 

Law Office
Address

City State Zip

 

Re: Attorney Fees and Cost Balance Response Letter Dated April 9, 2013

 

 

Dear Mr. Attorney,

 

Thank you for your timely response to my concerns.

 

I very much appreciate your quick response. I did not receive the letters referenced in your response; as the dwelling located at that address was awarded to ex spouse during the divorce. Had I received the final bill, the matter would not have escalated. I do appreciate your kindly response to the matter referenced in my original letter.

 

Please do not hesitate to call or write at the address and phone number listed on this letter if I may be of further assistance.

 

 

Best Regards,

Mr. Webhopper

 

 

 

 

FICO 9:
Filed Chapter 13 on 6/1/2017 after job loss. Discharged 6/1/2022.

Goal: Gardening!


Message 12 of 29
js0319
Established Contributor

Re: What do you think of this strategy? MARS Inc.

How does the response validate if whether or not the strategy worked?

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EQ FICO - 714 (5/24/16) I TU FICO - 772 (5/24/16) I EX FICO - 770 (5/24/16)
Message 13 of 29
webhopper
Moderator Emeritus

Re: *** UPDATE **** I think my strategy worked!!!

The OC has pulled back the collection... so the debt is no longer valid.
FICO 9:
Filed Chapter 13 on 6/1/2017 after job loss. Discharged 6/1/2022.

Goal: Gardening!


Message 14 of 29
electra
Established Contributor

Re: *** UPDATE **** I think my strategy worked!!!

I'm not sure, but I don't think that means that the CA is obligated to remove the TL from the CR.  They can't try to collect anymore obviously but I think that it doesn't automatically come off of the CR.  Is it still on there?  Did they say they would remove it?

Message 15 of 29
VirtualCuriosity
Established Contributor

Re: *** UPDATE **** I think my strategy worked!!!

I have a feeling that it did work.  I bet before long he will have the CA TL removed.  Just my opinion which isn't worth any fact.


TU713, EQ 731 , EX 726 (As of 12/13/14) - Personal Goal = 760

“Beware of little expenses. A small leak will sink a great ship” – Benjamin Franklin

Gardening since 3-26-15































Message 16 of 29
webhopper
Moderator Emeritus

Re: *** UPDATE **** I think my strategy worked!!!


@VirtualCuriosity wrote:

I have a feeling that it did work.  I bet before long he will have the CA TL removed.  Just my opinion which isn't worth any fact.


The best thing to do now in my opinion is to just wait to hear back from the DV that I sent to the CA.

FICO 9:
Filed Chapter 13 on 6/1/2017 after job loss. Discharged 6/1/2022.

Goal: Gardening!


Message 17 of 29

Re: *** UPDATE **** I think my strategy worked!!!

Hello!  SOrry to jump in to the conversation, but I had a question about CAs.  If you have a collection account on your credit report, pay it, does it remove itself from the collections section of your credit report?  I have been trying to get caught up on collections accounts since I was laid off in 08 and have been making payment arrangements, but a couple of the accounts that I have made payment arrangements and paid off have not removed themselves from the collections account category of my credit report.  Since it sounds like you have had some experience, I was wondering if you might be able to answer this for me.

 

Thanks so much!!!


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Current Score: 614
Goal Score: 625


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Message 18 of 29
webhopper
Moderator Emeritus

Re: *** UPDATE **** I think my strategy worked!!!


@KindaCreditWorthy wrote:

Hello!  SOrry to jump in to the conversation, but I had a question about CAs.  If you have a collection account on your credit report, pay it, does it remove itself from the collections section of your credit report?  I have been trying to get caught up on collections accounts since I was laid off in 08 and have been making payment arrangements, but a couple of the accounts that I have made payment arrangements and paid off have not removed themselves from the collections account category of my credit report.  Since it sounds like you have had some experience, I was wondering if you might be able to answer this for me.

 

Thanks so much!!!


 

Hi and welcome to Myfico forum!

 

I do know that if you pay the collection agency,  they are not required to delete the collection from your credit report.  They can simply update the account as "Paid" and your score is not increased.  

What most forum members propose is that you negotiate a Pay for Deletion with them.  Not all collection agencies will do a "Pay for Delete" but some will.  Have you gone through the process of verifying that the debt is yours?

 

 I am going to suggest that you read the following threads: 

 

 

What Steps Do I Take?

 

 

That will give you a great place to start!   Also you want to opt out first before contacting these creditors... to opt out go to: www.optoutprescreen.com

The next advice I can give is to contact and deal with each creditor one by one. If you wake all the sleeping bears at once you may not be able to deal with them fast enough to avoid a judgment being filed. Best of luck and if you use the search function to search for each of your creditors you can see how others have dealt with them successfully in the past. Best of luck!

 

FICO 9:
Filed Chapter 13 on 6/1/2017 after job loss. Discharged 6/1/2022.

Goal: Gardening!


Message 19 of 29
webhopper
Moderator Emeritus

Re: *** UPDATE **** I think my strategy worked!!!

Copied and pasted from sidewinder's  "What steps do I take?" thread:

 

"If both the OC and CA are reporting, does the OC show a balance? When an OC sells an account, they have to report a $0 balance. If they still own the account, both the OC and the CA can report a balance.

 

If the OC still owns the account, I would call them first and ask if they could pull the account back from collections and allow you to PIF. If they agree then you need to pay them in full and then send the CA a DV.

 

If the OC doesn’t own the account, then the OC isn’t going to be able to do anything for you. You have to deal with the CA.

 

Send a DV letter CMRRR to the CA. (DV's are never sent to the OC). See this link.  You then have to play the waiting game.  A CA is under no time limit to answer a DV but all collection activity must stop until they do respond. If you happen to live in Texas you can file a "Notice of Inaccuracy" that compels a CA to respond within 30 days. Here is a link to the Texas Finance Code that covers debt collection."

FICO 9:
Filed Chapter 13 on 6/1/2017 after job loss. Discharged 6/1/2022.

Goal: Gardening!


Message 20 of 29
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