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settlement on collections

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hoang817
Regular Contributor

settlement on collections

if i pay the settlement on all of my collection accounts, do you think these will help improve my scores?

 

Thanks

2024| EX: 650 TU: 650 EQ: 650
Avant: 500 | Surge: 500 | AMEX Platinum | AMEX Gold
Message 1 of 8
7 REPLIES 7
SouthJamaica
Mega Contributor

Re: settlement on collections


@hoang817 wrote:

if i pay the settlement on all of my collection accounts, do you think these will help improve my scores?

 

Thanks


If by "settlement" you mean pay less than the amount owed, no -- unless you can get "pay for delete".

 

If by "settlement" you mean pay them all off... yes that will help improve your scores.


Total revolving limits 650200 (530700 reporting) FICO 8: EQ 706 TU 714 EX 715

Message 2 of 8
hoang817
Regular Contributor

Re: settlement on collections

Hi,

 

I dont think there is a pay to delete  offer anymore? i have crme and recovery services.

 

I called them and asked for the settlement amounts to pay off the debts.

 

2024| EX: 650 TU: 650 EQ: 650
Avant: 500 | Surge: 500 | AMEX Platinum | AMEX Gold
Message 3 of 8
FireMedic1
Community Leader
Mega Contributor

Re: settlement on collections

CMRE is a medical collection agency. So credit to @gdale6 

1. Call the OC and see if insurance can be billed, (or-rebilled), collections ultimately paid by insurance get removed per new rules that came from CRAs settlement with 22 state AGs. If not then
2. see if you qualify for Charity Care, if not then
3. ask that they recall the collection in exchange for full payment
4. Send the reporting CA a PFD offer
5. Google the HIPAA Process and contact its creator for help, this process cannot be discussed in any forum of myFico.

 

Need the full name of recovery services. Theres a bunch of companies out there that use that slang. Good Luck.


Message 4 of 8
hoang817
Regular Contributor

Re: settlement on collections

Thanks. I paid them all thru settlements yesterday and they already withdraw the $$$$ from the bank.  i have to wait for them to update on my report.Capture.PNG

2024| EX: 650 TU: 650 EQ: 650
Avant: 500 | Surge: 500 | AMEX Platinum | AMEX Gold
Message 5 of 8
FireMedic1
Community Leader
Mega Contributor

Re: settlement on collections

Well PIF is better than owed. So they wont budge in deleting the entry on your report? I'd call and call and ask. Hope the chicken sandwich was good! Smiley Very Happy


Message 6 of 8
hoang817
Regular Contributor

Re: settlement on collections

lol..

 

Thanks.

I bought the meal just for the vanila ice coffee Smiley Happy

2024| EX: 650 TU: 650 EQ: 650
Avant: 500 | Surge: 500 | AMEX Platinum | AMEX Gold
Message 7 of 8
FireMedic1
Community Leader
Mega Contributor

Re: settlement on collections


@hoang817 wrote:

lol..

 

Thanks.

I bought the meal just for the vanila ice coffee Smiley Happy


👍


Message 8 of 8
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