I have an item that went into collections in the amount o...

[josie]

2002 is not shown anywhere but it shows to come off in August 2009.

[Tuscani]

Ok good. I would keep pursuing the pay for delete. Assuming PFD does not work, I would not pay unless you plan to get a mortage between now and 2009 as the mortgage underwriter will probably require it to be paid. 

[josie]

ok thank you. you have been a lot of help i wish i had know about this site from last year when i paid of the other collection accounts i have on my credit report. The company said no to a pay for delete. So they just won't get paid.

Thanks again. 

[Tuscani]

Good luck!

[Anonymous]

josie,

No law you can't send a PFD offer again in 6 months, and in a year, and in 18 months. Heck, you can send 'em one a month.

[Anonymous]

Yeah...sometime the key to getting something out of these companies is to be a rash on their rear ends. Infect their phone lines and contact centers like a good dose of Captain Trips.

[josie]

Thanks guys will start sending out letters.

[Boswd]

Ohhh  No  NO NO   You are making a horrible mistake,  PLEASE  don't listen to some of these people.

If you tell them you aren't going to pay( they won't care) they can and most likely will sue you for a judgment.  You're debt falls into prime territory of over $1000 if which they will pursue a court awarded judgment.   Do you know what that means?   They will seize your bank account,  wage garnishment etc.   A judgment will be placed on your credit report for up to 10 years.   It will destroy your credit report.

Now please listen to someone who has gone to hell and back with debt and with collectors.  It sounds like you tried to get a PFD and it didn't work,  They are extremely hard to get.

It sounds like you have the means to pay it off in Full,   now  the debt collector was right.  Paid will look better in the eyes of future lenders than settled .  You don't have to take my word or anyone else's word on this  go to your local car dealership and ask them or your local bank  ask them.  They are they ones  who wil be looking and judging your credit report.

You got confused and I'm surprised nobody caught on to this.   If you pay your collection account it only restarts your States Statute of Limitations clock,  NOT your Credit Report clock.  If it is going to fall off your credit report in 2 years than it will.   And since you are planning to pay the debt it doesn't matter if the Statute of LImitations begins again because the debt is paid off.    If you don't pay the debt just because it's scheduled to fall of your credit report doesn't mean it goes away.     They will still try to collect on your debt.   And if you tell them well " I"m not going to pay you"   You just put your account on the fast track to Court in their eyes.

Tell some of these posters what great advice they gave you when you have a summons brought to your house to go to court and a judgment gets rendered against you.  

Oh Lord,  if you have the means pay the debt and get it out of your life.   Don't listen to some of these people they directing you down the wrong path and you are going to end up paying twice of what you owe now.  Yes they wil continue to charge interest and court fees.   Your $1000+ debt is ripe for the picking with these debt collectors to sue.

Oh my God I can't believe some of the advice give on this board.

[josie]

Starting to get confused big time. I really need to know what I should do. I don't have all the money right now to pay in full will get the total amount by the end of August. Have half the money they are asking for. Which is the amount of the settlement. Have to pay today if i will accept the settlement. New at this all the other collections i have on my credit report i just paid them what the said i owed and done with it once it wasn't any crazy amount. I did setttle with one of them back in 2003, all the others are paid in full. This is getting confusing with everything everyone is telling me.

[Anonymous]

More on judgments ...

A judgment usually happens when a creditor/CA sues you, you don't file an answer or show up in court, then you lose automatically.  It becomes a "public record" on your CR.  Much worse than a collection.  Can stay on your CR for 7 years from the date of judgment (NOT the DOFD).

It doesn't matter how small the amount isYou might think it's not worth their while to chase a debt under $1000, but they go to court each day with a stack of 50 files and just let it rip.  Most debtors don't show up, so it's an easy win whether it's for $50 or $5000.

After they win, the creditors get to enforce their judgment by legal means, such as garnishing your wages or bank account.  It's really nice when they contact your employer to tell them they are legally obliged to pay some of your wages toward a debt.  Makes you look really good to your boss, right?