topic Re: HELP PLEASE NEED QUICK ADVICE in Rebuilding Your Credit

HELP PLEASE NEED QUICK ADVICE

Anonymous — Thu, 12 Mar 2015 16:36:25 GMT

I have an account in collections from an old utility bill. $2200. i just spoke to someone from OC (they still own debt) and was told if i make payment in full they would recall from CA. I have this recorded but nothing in writing. Should I go ahead and pay? Trying to get collection agency off reports. She is calling me back in 10 min please help someone

Re: HELP PLEASE NEED QUICK ADVICE

creditstalker — Thu, 12 Mar 2015 16:47:20 GMT

I would request a letter in writing. You just never can trust the collection agencies.

Re: HELP PLEASE NEED QUICK ADVICE

Anonymous — Thu, 12 Mar 2015 16:48:41 GMT

thanks for the quick response. its not the CA though i was told this by the OC

Re: HELP PLEASE NEED QUICK ADVICE

Anonymous — Thu, 12 Mar 2015 16:52:18 GMT

You have their statement over the phone, its a valid and binding agreement. Failure to follow through places them at risk of litigation.

Re: HELP PLEASE NEED QUICK ADVICE

Anonymous — Thu, 12 Mar 2015 16:55:55 GMT

thank yo normanfh for your quick reply. I'm going to pay it. I just hope it all works out without any hassle. 2200 is a lot of money for me and the CA had agreed to settle for 1600 but i'll pay the diff if it means getting it off my reports. sooo nervous lol a year ago i wouldnt have paid anyone and not cared but now i'm determined to get all my baddies cleared up and not get anymore...ever.

Re: HELP PLEASE NEED QUICK ADVICE

RobertEG — Thu, 12 Mar 2015 17:10:13 GMT

If you pay the OC before they have actually terminated the debt collector's collection authority, then there is no longer a debt and they cannot retroactively then terminate the collection authority. Thus, the debt collector will have had active collection authority at time of payment of the debt, and will have no requirement to delete their reported collection.

The only "requirement" to terminate their own reporting is the CRA policy that a debt collector who has had their collection authority terminated while the debt remains unpaid should report deletion of their collection. That would no longer be the case should you simply pay and the OC accpet payment.

You should first offer a pay for delete to the debt collector, which obtains their direct agreement to terminate their own reporting.

Otherwise, you will have no requiment for the debt collector to delete unless the OC terminates the assigned collection authority before accepting payment of the debt.

Re: HELP PLEASE NEED QUICK ADVICE

Anonymous — Thu, 12 Mar 2015 17:17:54 GMT

Thank you RobertEG. I tried pay for delete with the CA. They said after it was paid they would "submit it for review" but would not give me a definite answer. The woman i spoke to today with the OC said she had submitted a request to have the debt recalled from the CA while I was on the phone with her. This was before payment but could not possibly have been processed before payment. Have I left myself without options?

Re: HELP PLEASE NEED QUICK ADVICE

gdale6 — Thu, 12 Mar 2015 21:37:28 GMT

@Anonymous wrote:
Thank you RobertEG. I tried pay for delete with the CA. They said after it was paid they would "submit it for review" but would not give me a definite answer. The woman i spoke to today with the OC said she had submitted a request to have the debt recalled from the CA while I was on the phone with her. This was before payment but could not possibly have been processed before payment. Have I left myself without options?

Sounds like you are good on this one since they submitted the recall prior to payment, the CA should remove their reporting. Keep the recorded calls around.