to pay or not to pay

[ruger33]

So, hypothetically, if an unpaid collection and a paid collection hurt about the same.... assuming the unpaid is reporting, its beyond the SOL, and one is not looking for new credit, etc,  what's keeping the person owing the balance from holding the proverbial "upper hand"?

I mean obviously if it is a legit debt, it needs to be paid, but is there anything wrong with waiting until the CA gives in to your demands, ie: PFD? All they can do is update your CR every month and thats not gonna hurt anymore than an updated paid collection AFAIK.  I guess the point is "they" can't screw you anymore than you already screwed yourself? Is there anything wrong with playing "hardball" with them to get what you want?

Is this a logical train of thought? Someone school me! 

[DaBears]

unpaid debt will always follow you. if at a certain time you want to apply for a mortgage you will need to undisclosed any unpaid debt. I would pay it if its a legit collection and have my self conscience not bother me. 

DaBears

[ruger33]

As stated, obviously it should be paid, but, in the same breath, if one decides to apply for a mortgage they can pay it then... its still a collection and they have every intention of doing so (paying said debt) until "then" what's to stop one from holding out for better terms?

[ruger33]

Kind of an "I'm already screwed so if you want your money, its gonna be this way" type thing. I would think one could have better leverage with these people?

[enharu]

If it's a legitimate debt, it ought to be paid back.

While any type of collections will drop your score drastically, a paid collections looks much better than an unpaid one during a manual review. People have called recon and appealed, and eventually got approved. A lot more creditors are willing to work with you if you paid back all your bad debt.

Think of it from a personal standpoint. Will you keep lending money to your best friend if he fails to pay you back previously?

And will you be willing to lend him money if he paid you back previously, even though he took a long time to repay it back?
For both scenarios a normal person would of course be unwilling to a certain extent, but situation #2 sounds a lot better than being stuck with situation #1.

[ruger33]

So, as of now, aside from any morality issues, there is no problem with playing hardball. Said debt will be repayed, regardless. However, there's nothing keeping a person from a "pissing match"  with a CA.  Anyone else want to weigh in?

[ruger33]

Anyone tryed going head on with a CA?

[DaBears]

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@ruger33 wrote:
Anyone tryed going head on with a CA?

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I have and won. Its called knowing the law and getting a well experienced consumer law firm involved. You'll be suprise at how much goes back in your pocket.

[amersafe]

How did a consumer law firm help you? I understand rug33 point he is saying as things stand he will wait until he must pay while getting a mortgage etc. But he would rather pay now for pdf!! I have paid off all my collections but god know I wish I could have them deleted

[guiness56]

He sued the CA and won.

Have you started your GW campaign for the paid collections?