question on paid collections

[cloud]

Hi there,

I'm currently working on paying off my collection accounts. One such account I have negotiated a pay for delete. I have it in writing and will be sending the cashiers check tomorrow. Another agency was not so easy to deal with they said that it was company policy to not delete items but mark them as either "paid in full" or "settled in full". They offered me a settlement of 50 percent off and I have the money to pay for it. I'm also sending them a check tomorrow. So I guess I have two questions. One after a pay for this is there any way to get the account deleted? Two if I have this problem again how do I convince them to delete the account. None of my accounts are out of sol. I live in minnesota and its only been 3 years. I have no problem paying them but I want this stuff off my record so I can buy a house. Thank you in advance for any advice.

Cloud

[chane]

It's possible to dispute them and get them removed after you pay them, but it's much better to get a pay for delete. I personally wouldn't pay it unless they agree to delete it. I don't care how much they settle for. Because if they keep verifying it, it will stay on for 7 years and that will cost you WAY more than 50% off your debt.

[JeremyKean]

Originally Posted by chane

It's possible to dispute them and get them removed after you pay them, but it's much better to get a pay for delete. I personally wouldn't pay it unless they agree to delete it. I don't care how much they settle for. Because if they keep verifying it, it will stay on for 7 years and that will cost you WAY more than 50% off your debt.

If they show paid that should be ok with the mortgage company, so I would advise the following

1. Look for any details you can ethically dispute on that account that may not be 100%accurate. Examples: full numbers, status, lates, etc. You are not able to dispute that the account isn't yours after the fact, since you paying it off agrees to that. So try a different dispute angles

2. FICO Scoring systems are very sensitive to recent activity good or bad. I would focus on adding new active revolving account to your credit profile. This will give you more boost to your score than that account showing paid from 3 years ago