topic Re: pay or not to pay in Rebuilding Your Credit

pay or not to pay

Anonymous — Thu, 29 Mar 2012 10:59:56 GMT

I have a collection company, lurking on my credit report its a valid debt but they are not reporting as of yet should I call them and just pay them before they slap a collection on my report or will paying the debt guareentee that they will slap a collection on my account but as paid?

Re: pay or not to pay

Anonymous — Thu, 29 Mar 2012 11:14:39 GMT

@Anonymous wrote:
I have a collection company, lurking on my credit report its a valid debt but they are not reporting as of yet should I call them and just pay them before they slap a collection on my report or will paying the debt guareentee that they will slap a collection on my account but as paid?

I am confused by your first sentence. You start by saying this company is lurking on your credit report, but then say they are not reporting. Assuming I am guessing correctly and they are not yet reporting, paying the debt does not mean they cannot report. They are allowed to post a paid collection on your credit report.

To elaborate, often companys won't. The main reason they use credit reporting is to get you to pay. Once they have the money, they usually won't bother reporting, but it certainly has happened. If it were me, I would call or write them and negotiate a pay for not reporting. See if they will put it in writing that they will not report to the credit bureau if you pay this debt. If they won't commit in writing, it's up to you what to do. If it were me, and I could afford it, I would pay it and hope they don't report.

Re: pay or not to pay

Anonymous — Thu, 29 Mar 2012 20:16:05 GMT

Lurking yes they did a soft inquiry and they said pay pal recovery services

Re: pay or not to pay

bichonmom — Thu, 29 Mar 2012 20:41:29 GMT

If it's a legit debt and you can pay it, you can call them and ask them *if* you pay the debt, will they report it to your CR? I've had 2 CAs send me dunning letters *prior* to the CA being reported on my CR. They both agreed that if I paid in full by X date, they would NOT report on my CR. They both stuck to their word. I think it's worth a shot, because once it's on there, getting them to take it off is like pulling teeth.

Re: pay or not to pay

Anonymous — Thu, 29 Mar 2012 21:04:34 GMT

make the request in writing and get the confirmation that they will not report it in writing with a signature from management.