Verizon sold account to collection agency who wants to settle

[LoveGoodCredit]

Hey guys,

Verizon sold my account of 772 to a collection agency.  I got a letter from them and they are willing to settle the debt for 502.00.   I have 425.00 I could put on the account and pay itoff.  Should I try that?  They said they would not put it on my credit reports and markt it settled, paid in full for verizon.  Also, should I send the a check with the paid in full amount on it and put something on my notes on the check  about not reporting it to the agencies?

Thanks!

[RobertEG]

You can always counter offer with a settlement for less than their offer.  It is a negotiation.

Did they offer not to report a collection at all, or only to not report settled for less?

If their offer was both for a settlement for less and no reporting, I would do my best to meet their terms.

Countering for less will involve their new acceptance of not reporting, which is a big factor.

[LoveGoodCredit]

They offered 500.00 payment and not report it. to the agencies.  I want to write a check though, not over the phone so I at least have a paper trail.  Its in dispute from LL with no payment history right now.  LL is working to get verizon removed which is on there as a collection. And yes, they will not report it as a collection account.

[LoveGoodCredit]

What should I do???