Reconsiderations

[nolamike]

you mentioned SOL, are you near the SOL on these debts? if so do a cost benefit analysis and decide what works for you.

Once SOL is reached they cannot sue you for that debt, all they can do is be annoying by reporting it to the CRA's. It also means that those debts are over 3 years old depending on your state. They will fall off in 4 years and lose power every year. Another point to consider is that after they have passed SOL and you begin to contest the debt there are still no ramifications such as a lawsuit and in fact they may just let it slide particularly if the vulture has had legal problems with collection practices in the past.

On the other hand, they sound like a debt you do owe, even if it is to a vulture who only paid pennies for it.  Once you pay it off it will still show on your report for 7 years AFTER you pay it, unless you get a PFD in writing before you pay. so there is that factor, as it will depress your score for a while longer even if it is less than a "new" collection action would . both lose power over the years until they drop off.

search the vultures on here to see what luck others have had with PFD's.

[Anonymous]

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@nolamike wrote:

you mentioned SOL, are you near the SOL on these debts? if so do a cost benefit analysis and decide what works for you.

Once SOL is reached they cannot sue you for that debt, all they can do is be annoying by reporting it to the CRA's. It also means that those debts are over 3 years old depending on your state. They will fall off in 4 years and lose power every year. Another point to consider is that after they have passed SOL and you begin to contest the debt there are still no ramifications such as a lawsuit and in fact they may just let it slide particularly if the vulture has had legal problems with collection practices in the past.

On the other hand, they sound like a debt you do owe, even if it is to a vulture who only paid pennies for it.  Once you pay it off it will still show on your report for 7 years AFTER you pay it, unless you get a PFD in writing before you pay. so there is that factor, as it will depress your score for a while longer even if it is less than a "new" collection action would . both lose power over the years until they drop off.

search the vultures on here to see what luck others have had with PFD's.

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They are within months of SOL, if not passed already. That's part of the reason why I'm loath to contact them. One is LVNV, which (from information on here) doesn't seem to do PFD, or work with debtors,very well.

Guess I've got some thinkin to do.

[Anonymous]

OP, LVNMV delected my paid collection account. I paid it in 2014 and recently disputed it through the CBs. They deleted it without putting up much of a fight. You may just have to pay it and worse case scenario, it shows up as a paid collection rather than an unpaid collection. Best case scenario, you dispute it once it is paid in full and they delete it. Doesn't sound like a bad move. I wish you well!