0
What is the best way to negotiate a 'settled but satisfied' collection account that cannot be paid off in full?
Definately in writing. Get a written confirmation of the accepted amount from the creditor before handing over the settlement. If the account is currently listed as 'in collections' or 'charged-off' paying this account will most likely show 'settled/not in full' or may show 'settled' and the dollar amount of what was paid [by you] and what was not paid.
What else can I help you with?
What does settled mean on your credit report?
A credit report will show that an account is either active or settled. If the account is settled, it means that it has been paid and is closed.
How will settling credit card debt affect your credit score?
It will raise your score slightly. If you don't settle a delinquent account, the verbage on your credit report may read: "collection account", or "unpaid collection account". However, if you settle, the report may read "settled". By settling with the debt collector, you have made an attempt to fulfill your financial obligation. Therefore, your score will raise slightly.
If you settle a chargeoff or collection does this increase your credit score?
Yes! I settled 2 collection accounts and my score stayed exactly the same.
Can a judgment be settled by going to the courthouse and making payment for the judgment amount?
Yes. Then get a letter stating the debt was satisfied and photocopy it. Get a report from each reporting agency, dispute it saying it should say "satisfied"...attach a copy of the letter from court to your dispute letter. Attach the page of your report (photocopy) and highlight the item disputing. Include the case/account number in your dispute.
Who sent you to the collection agency?
I presume your question is "how did your debt wind-up at a collection agency". There are 2 methods: (1) the original creditor sold your account to an agency for a price that is a fraction of the outstanding balance on the account (so the collection agency now is your creditor legally), (2) the original creditor contracted with a collection agency to get you to make more payment on the debt than you have while interacting with the original creditor only. In either case, a collection agency is a company that makes a profit by getting debtors to make a payment of sufficiently greater amount (than they had been making to the original creditor) such that a greater return can be realized from this continued effort to collect the debt, and collection agencies usually are profitable companies. In my personal opinion, the first method (# 1 above) is used in the vast majority of delinquent debt collection situations. Any creditor organization of at least medium business size has enough staff to attempt to coax the debtor to make more payment, so there would be no reason to contract a collection agency to try again. That latter point being understood, collection agencies sometimes resell a debt account to another collection agency when they give-up on trying to get more payment from the debtor (and the account has not been settled).
If you've settled a debt with a credit collection agency can the original creditor buy back the account and try and charge you again?
No ... you have the proof that the debt was settled.
I have a credit score of 590 with a charge off account that has been settled and a collection account can I get a car loan?
yes you can get a car loan however the interest rate will be high....your payment therefore will be much higher....
What does settled mean on your credit report?
A credit report will show that an account is either active or settled. If the account is settled, it means that it has been paid and is closed.
How will settling credit card debt affect your credit score?
It will raise your score slightly. If you don't settle a delinquent account, the verbage on your credit report may read: "collection account", or "unpaid collection account". However, if you settle, the report may read "settled". By settling with the debt collector, you have made an attempt to fulfill your financial obligation. Therefore, your score will raise slightly.
What country did president Polk negotiate with in order to obtain Oregon for the us?
He settled with Britain.
How do you get a judgment satisfied that has already been settled?
You should go to the court that issued the original judgment and inquire about a 'judgment satisfied' document that could be recorded in the land records.
When the constitution was written there were many disagreements between the states. How were these disputes settled?
The disputes were settled by compromises and trading so that each state would be satisfied with the end result.
How Long does it take to have a collection account removed from your credit report once its been paid?
According to everything I have been reading, the collection can stay on your credit report for 7 years from the date of the original default of payment. I have understood that to mean that if your account was trnsferred from a creditor to a collection agency, the date of default cannot be updated along with it. I also understand that there is an opportunity to negotiate with the collector to make a certain settlement payment as long as they are willing to remove all negative information related to this account from your report. After all, they are buying the debt under the assumption that they can make some money on it, so showing a willingness to pay has to get their attention. Make sure you get this writing if they agree to it, however keep in mind that they do not have to agree to your request. It will remain on the credit report for the required seven years but will (should) be noted as "paid or settled".
If you settle a chargeoff or collection does this increase your credit score?
Yes! I settled 2 collection accounts and my score stayed exactly the same.
Can a judgment be settled by going to the courthouse and making payment for the judgment amount?
Yes. Then get a letter stating the debt was satisfied and photocopy it. Get a report from each reporting agency, dispute it saying it should say "satisfied"...attach a copy of the letter from court to your dispute letter. Attach the page of your report (photocopy) and highlight the item disputing. Include the case/account number in your dispute.
Can a co-owner on a checking account be liable for using money from an estate not settled?
Yes, the co-owner would be legally liable for using money in the account from an estate that was not settled.
Can a creditor continue to report delinquency to a charged off account?
Once an account is settled, as with a charge off, the creditor must refelct that the account is settled. Failure to do so is a violation of the Fair Credit Reporting Act, a federal law. Dispute the bad reporting first with the credit bureau (Equifax, TransUnion or Experian). If they fail to change it within 30 days, file a formal complaint with the Federal Trade Commission (FTC) who is their regulatory agency. * Yes. A charge off does not indicate a debt is settled or not fully collectible. A charge off simply indicates that the original creditor is clearing the account of the books and referring it to a collection agency.
