What would you guys do

[wynona01]

Hello,

I have a question, I am working on my collections and I have one collection for a ATT bill for 769, and I wrote a PFD letter to the collection agency to settle for half and a delete off my credit reports. Well the company Virtuoso Sorucing Group,(collection agency), called me and said they cannot delete the account but once I settle the account I can dispute it, and they sent me a email confirmation of the agreement, but they accepted my settlement agreement.

It's a really good offer and I have to money to pay them so should I just say ok here ya go and take a chance to dispute or should I push harder to get them to delete?

[frio]

Well if you pay and then dispute im guess they can just turn around a validate the account and change it to "settled paid for less then full balance" and the blemish will remain.  Not sure why they said that or what they are getting at but sounds odd

[pizzadude]

How many of your reports is it showing on.   And can you live with this collection on your CRAs until it drops off, should they choose not to delete it ?

[wynona01]

It's currently on Transunion and Experian. I want to purchas a home by next year, so I dont know what the effect will be though. I know either way I have to pay it.

[RobertEG]

They were, in my opinion, giving you the blow-off by telling you to pay, then dispute.

If you have a proper dispute due to some inaccuracy in their reporting, you can/should do that regardless of payment status.

A dispute is an allegation of inaccuracy in their reporting.  Paying does not bolster such a dispute.  If anything, it infers the accuracy of their reporting.

They will most likely just verify the accuracy of their reporting. 

Their agreement to accept less than the full amount is good for your finances, but will place a "settled for less" comment in your CR, which will affect both your scoring and a manual review of your CR, showing that you did not, in the past, pay the entire debt owed.  It is not entirely a win.

Pushing harder for deletion is a personal decision.  It is a discretionary good-will grant on their part.  It depends upon how you "push."  Confrontation most likely wont foster an atmosphere of good-will.

[esme]

Keep trying for a PFD. Once you give them money, they will have what they want from you and then have no need to give you what you're asking for. Right now, use the money as your leverage. In this economy, everyone's hurting for cash, if you push hard enough, my experience is that most will give in. And of course, get it in writing before making any payments, and don't give your payment info over the phone.

[wynona01]

You guys are right, I will just keep pushing for them to delete it as well. i will keep you guys posted thanks.

[pizzadude]

I would keep sending them PFD offers, hopefully they will accept one eventually.....

[wynona01]

Great News,

They ended up deleting it off my credit report!! I checked this morning...I am soooo glad!!! Also I had some medical collections from NCO, and I sent a letter to the CEO and I guess it worked because they were deleted as well!!  2 more collections to go....yes yes yes!!

Now all i have to do is start working on these goodwill letters to remove a few lates of my cc's

Thanks guys

[Anonymous]

Hi there,

By chance do you have a sample PFD letter that you used for Virtuoso.  I have no problem paying the debt in full (it's only $67).  I just need to ensure that it will be moved from my credit report since it is currently the only collection that I have. Please advice. Any help is greatly appreciated. Thanks!!