How Do I Get Collection Agencies To Remove Their Accounts?

Accurate negative info stays on your credit report for 7 years from the original date of default. If you pay, the items still stay but get updated to "Paid:" with a $0 balance. - Paying any sort of charged off/defaulted credit card will not fix your credit. If you pay a credit card default, it will still stay on your credit report for the remaining balance of the 7 years. - "Sometimes" you might be able to to a Pay for Delete agreement but these only work with non credit card defaults like defaulted cell phone or utility bills. These will not work with charged off credit card debt. If they refuse to do this, then try to get the best settlement you can. - You can never act in "good faith" with debt collectors. Assume that any promise about a settlement is a lie unless the terms are backed up in writing. Never give them your checking account numbers. How to pay collection accounts: https://sites.google.com/site/creditdebtadviceonline/how-to-pay-collection-accounts How to pay/settle credit card defaults: https://sites.google.com/site/creditdebtadviceonline/paying-defaulted-charged-off-credit-card-debts

How it Works... You have a credit card debt and you do not pay for 6 months. The company is required to remove the debt from their books (IRS requirement). And they usually, send the account to a collections company that pays 5 to 8% on the dollar for the debt. The collections company pursues repayment of the debt with the borrower. First, it's important to verify that the company you are negotiating with is actually LEGALLY able to enter into an agreement. For example, in the State of Florida, in order for a Florida resident to negotiate with a collections agency, the company would have to be registered with the state (which means posting a bond). So, I have to ask you, are you negotiating with a viable entity? And, the company should be able to verify the debt. They should give you a copy of your original agreement and verify all charges and payments. Just because Joe Blow says you owe him money, don't just take his work for it. Where is the agreement that shows the company actually purchased the debt? Also, are you sure the statute of limitations hasn't run out on your obligation to pay the debt. What is your state's law about that? (See sources below to determine that) And, you do not have to wait seven years before the debt is deleted. There are other options. For example, "Pay for Non-Disclosure" - company will not argue against your challenge to remove the debt with the credit bureaus.

How old are the accounts you are trying to have removed? If they are pay a couple of years old you never want to try to call on then this will only allow the collection agencies to have contact with you and this making it stay on your credit report longer. What you need to do is go to this web site https://www.annualcreditreport.com/cra/index.jsp and do a dispute online. you can state on the dispute that this is not my account. you can use your experian disputes for trans and equifax if the account is to old leave it alone or you will reopen it. colorado state law if they cannot prove it they have to delete it. make sure you do the dispute on all three credit agency's. It you need help with this here is a guy who is awesome he does this for a living his # is 720)319-1159 his name is terry he can help you and his fees are reasonable. Hope this helps Hottie41

The sad truth is that most collection agencies will not remove items for payment. A large number of them now have contracts that explicitly forbid them from doing so. These contracts are with either the credit bureaus or the original creditor. The only way to get things off for payment is to use a good credit repair service. My wife and I found a good one and were amazed at what they did. We did not use the big ones like Lexington Law and Ovation, and Trinity Credit repair and a bunch of others. They all talked about a small monthly payment, but our friends used Lexington and got basically nothing done. You want a "Credit Management" company. They are the only kind of companies that do credit repair and debt negotiations under the same roof for one price. They are a little more expensive, but they were well worth it. Bottom line, you need a professional to do it. We tried on our own and ran into the same thing. The professional companies have leverage that we just don't have. Hope that helps.

Here are questions for you: a) Are you disputing the debt? If so, you need to send a dispute letter explaining your side, and ask for validation of the debt. ai) If no dispute, why do you need it to be removed? You entered into an agreement stating that they would reported any defaults on your part. b) How old is the debt? c) Which collection agency is it? Who owns the account? Who is reporting the account on the credit bureau? They're saying to you to dispute it through the credit bureau, that's fine, but they cannot enter into an agreement if they're not reporting it. They don't have to delete it, either, IF the information is accurate. If you didn't pay it, then they're right. On the other hand, you could write them a letter with your proposal. You can see if they accept it. Cheers!