     jason (Jason) | Friday, April 27, 2001 - 04:49 am 
hi ..
i have "120 days late" closed account sold to a collections company. i spoke to a rep and they refuse to delete or change it to a neutral status.
i would like to send the payment & letter stating upon accepting the payment, that they remove the 120 day late status and give me a "current or pays as agreed".
would this work ???????
i live in florida and not sure if their are laws favoring this action. |
| Christine Baker (Admin) | Friday, April 27, 2001 - 09:20 am
I'd prefer the "restrictive endorsement" right on the check.
I've had clients who had hired lawyers to settle their debts, and even the endorsement on the check didn't work, the collection was still reported.
In one case the lawyer who originally settled the debts didn't return calls, a new lawyer just wrote letters, with no result, nobody sued.
I'd recommend first finding out whether you can SUE for enforcement unless you HAVE to pay the collection.
I don't know about any court cases.
Also, it makes absolutely NO difference how your collection is reported, a collection "paid as agreed" is still a collection. In order to improve your credit you need to have the collection removed. |
| jason (Jason) | Friday, April 27, 2001 - 10:27 am
i don't think it would classified as a collection on the report... it looks as if it's only 120 days late. it does not say collection anywhere in the equifax report like some of the other accounts.
this was an old medical bill and was sold to a collection company. i spoke to the collection rep and they refuse to delete it wich i can understand... but i don't understand why they would refuse to change it to a neutral rating by taking off the "120 days late" if i pay off the balance owed |
| Christine Baker (Admin) | Friday, April 27, 2001 - 01:44 pm
Is the account reported as OPEN 120+ late NOW or closed with the 120+ late as of the date you went delinquent? |
