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Should I settle

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Anonymous
Not applicable

Should I settle

Hi All..

 

Back in 2004 my son opened a cell phone account in my name. I didn't find this out until 1 year ago. I let it go due to the fact that I thought in a year or so it will fall off.

 

Today I get a letter from a what i believe to be a CA wanting to settle for a lot less than what the debt is. This is the only baddie on my report and i would like to clear it up, but I don't know i i should send them a PFD, being the they are not the OC..

 

Any thoughts?

 

Thanks so much

Message 1 of 5
4 REPLIES 4
Junejer
Moderator Emeritus

Re: Should I settle

Who's reporting, CA or OC? That's who you should PFD with.






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Message 2 of 5
Anonymous
Not applicable

Re: Should I settle

The OC is reporting but the CA says in the letter that they are writing for the OC and that if i dont settle within 30 days the OC will not be obligated to renew offer?

 

Thanks!!

Message 3 of 5
Junejer
Moderator Emeritus

Re: Should I settle

Call the OC. The CA doesn't have the right to remove the OC's entry from your CR.






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Goal Score: 850

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Message 4 of 5
AndySoCal
Senior Contributor

Re: Should I settle

I would try the original creditor first see if you paid them if they would pull the negative account from your credit report. Explain to them what happened. Deal with collection agency after other options have been exausted.

 

The collection account and settled account are both derogatory accounts.

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