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arhorer

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Collections letter agreement and response..?
A couple weeks ago I sent letters to collections companies on my credit report. (The usual "if you delete these entries I'll pay x amount") Well they deleted them from all of the credit bureaus, but never sent an agreement letter back like I said in the letter I sent. What should I do? Wait for a letter from them? Go ahead and pay despite the fact that they haven't technically agreeed to my terms?

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That is a tough decision to make. Of course it would be best to have it in writing, so it doesn't reappear, but unfortunately most debt collectors will not do "pay for delete agreements" in writing. Really, you are going to be at their mercy either way, if you pay it and hope they don't relist the collection or if you don't and have to ask again if they will do a pay for delete. It is your call, but if I was in your position, I think I would go ahead and pay right away and hope for the best. The only thing that you didn't specify was "x amount". I am assuming you meant full amount and my answer is for that case. If it was not the full amount, then you should NOT pay without something in writing agreeing to the settlement amount. I would in no circumstances pay them a settled amount without it in writing from them. Settlment amounts they will put in writing.

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You stated that YOU WOULD PAY if they deleted the items, and you specified the amount.  Since they have fulfilled their end of the agreement, it would be only just that you keep your end of the bargain and pay as you stated.

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If the specified amount was not the full amount owned, the OP would be extremely foolish to pay a settlement amount that was not agreed to in writing by the collection company.

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