How do I go about paying this?

[Anonymous]

My capital 1 credit cards were charged off and sold to a collection agency. This agency is not on my credit reports though. How do I go about paying off this collection agency so that they don't report to the credit bureaus?

I don't think I can dv them because I have NEVER heard from them about this debt. (I got the name of the agency from Capital One).

Also, I think it is still in SOL but I just want to pay it off.

[Anonymous]

You can contact the CA, and negotiate a pay for not reporting, instead of a pay for delete.

If you can not pay in a lump sum, I would not contact them.

Message Edited by sidewinder on 08-19-2008 10:02 AM

[Anonymous]

I can pay all of it. They offered me a settlement a couple of months ago, can I offer this in my pay for not reporting letter? And can I also say, you accept this for payment in full and agree to not sell the rest of the debt to another agency?

[Anonymous]

Ok, so I just read my first part where I said I had never heard from them.

That was incorrect....I heard from them about one account. I found out recently that they own both of the Cap 1 accts now.

[Anonymous]

Anytime you settle, get it in writing that you are settling in full. No balance will be owed and no balance will be sold, transferred, or in any way tried to be collected on.

I would send a letter stating "This is in response to the settlement you offered. I will agree to pay the amount of the settlement offer if I receive in writing from your company the following.........."  or something like that.

[Anonymous]

Thanks soooo much....I am going to send these letters off today....Do I need to CMRR these letters??

[Anonymous]

PFD letters don't go CMRRR and this is kind of like a PFD letter, so I'd say you don't have to.

[FICOMari]

Hi Sidewinder,

Can you tell me please why PFD letters do not go CMRRR? Thanks!

[Anonymous]

PFD is a willing agreement between you and the creditor, neither you or the creditor is required to accept or reply to the agreement/offer.

The only letters that you need to send CMRRR are letters that you may need to prove were sent and received. Such as DV letters, MOV letters, dispute to the CRA letters, etc. As CA and CRA are required to respond or take other action, if they do not comply with the laws and you take it to court, you need to prove that you sent them the letter and they received it.

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FICOMari wrote:

Hi Sidewinder,

Can you tell me please why PFD letters do not go CMRRR? Thanks!

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