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Lindy8387

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Debt Settlement for Deletion
Our lease expires in 2 months and we are trying to purchase the house. We have one fairly large medical collection that is only 6 months from coming off our reports entirely. I have heard that collection agencies don't like to DELETE information but since this is past the statue of limitations and close to falling off our reports what are our chances of getting them to delete it rather than just mark it Paid or Settled. I have going to offer them 20%.

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Top Contributor
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That's a tricky one.

Check the statute of limitations in your state 

By contacting them you may reset the 7 year clock. So if they won't settle for 20% they will then have 7 years more to try and collect. 

Depending on the size of the debt, Im not sure 20% would be incentive enough for them to agree to a pay for delete.  You have to do some homework and see if that's the best route or if you have some other options. 

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