Hello. I have a outstanding collection on my credi

2 Answers

Contact your creditor to know whether or not the payments have been sent to the CA as a pay direct. It would have been better if you had sent the payments to the CA. You can negotiate a pay for delete agreement with the creditor/collection agency. But it will be their discretion to accept or reject your proposal. If you pay off the account in full, then the account status will be updated as "Paid in Full" on your credit report. But the item will be there for 7 years from the date of first default.


What type of debt is this?

Since your account has been assigned to collection agency, your payments should be send there.  In many cases, payments sent to an OC will be processed but sent to the CA as a pay direct.

 

Your original debt might have been $11800 but keep in mind accrued interest and/or collection fees depending on what type of debt this is.

You are more than likely not going to get this off your credit report...they are entitled to report for 7 years.  Pay for deletes just dont happen...

 

 

How to Deal with Illegal Loans..OhioGal's Primer
http://www.debtconsolidationcare.com/paydayloan/dealingwith-illegallenders.html
PDL's are ILLEGAL in the following states...
AR, AZ, CT, GA, ME, MD, MA, NJ, NY, NC, PA, VT AND DC
OH AND NH have very restrictive low cost interest rate laws.

SOL for all states
http://www.debtconsolidationcare.com/statute-of-limitation.html

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