Pay for delete not accepted !

[Anonymous]

I have account with $2400 on FAIR COLLECTION &O , in 2013
They offered me %50 off , I just called them today and asked them if I will pay it ,are you going delete from all 3 credit agency ?
Manager said no we don't , we just update it paid as ful ,
My question is should I pay them ?
Is my score going to drop ?
I know some of the collection not accepting to delete ,
Please share your experience,
Thanks for your time

[Anonymous]

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@Anonymous wrote:
I have account with $2400 on FAIR COLLECTION &O , in 2013
They offered me %50 off , I just called them today and asked them if I will pay it ,are you going delete from all 3 credit agency ?
Manager said no we don't , we just update it paid as ful ,
My question is should I pay them ?
Is my score going to drop ?
I know some of the collection not accepting to delete ,
Please share your experience,
Thanks for your time

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50% settlement for paid in full is a great deal. If the debt is legitimate, you should pay it.

[Anonymous]

But some people saying , if you are paying without delete from all credit agency , your credit score will be drop
Is this true ?

[rmduhon]

It may drop when the account updates to paid in full, but it'll look better on a manual review. I'd say pay it regardless

[rmduhon]

There's a couple of other things that you need to take into consideration about this.
1. Is the account updating regularly? If so, it's keeping your scores down.
2. Is this a credit card debt? If so, then it's counting towards your UTI and keeping your scores down.
3. By paying it, you avoid the account updating regularly if it isn't already updating regularly.

[Anonymous]

I recently settled an account with FCO as well. It was a collection from 2011 for $1,666.80, which I settled for $166.80.

They are notorious for not deleting, so don't hold your breath. I've emailed, called & written letters.

If it brings you comfort, they updated the balance to $0 and marked it "paid in full", and it was reported on my credit within 7 business days. My scores increased about 25 points too because they update monthly. It's scheduled to be removed off my report in January 18, so I'll keep waiting it out.

[Anonymous]

The account is for rental office on 2013.
Yes they update monthly ,
Should I get letter from them regarding I am paying %50 ?
What happen after paying them %50 thdg just reported the same amount I paid them ?
Appreciate it for your time ,

[tiffanie97]

I just read that pay for deletes practice is not allowed and isn't a common practice with collectors anymore.  

Here is the article: http://www.creditcards.com/credit-card-news/pay-for-delete-shady-credit-report-cleanup-1264.php  

[Anonymous]

I had a settlement offer in writing from a collection for a charge off and the oc (USAA of all people) still only applied the settlement as a payment which I'm disputing since I have a written settlement offer. So you should defiantly get it in writing.

[Anonymous]

I want to also add the publish date on that article is just over exactly 2 years old. YMMV with just about every aspect of credit repair, keep that in mind. Don't let one denial stop you, but I agree 50% settlement is a great deal and I would jump on that if it were me.