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missliz87

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"It won't negatively affect you"" Collections Agency
So, I have a debt with AT&T and I got ahold of the people trying to collect money from me.
I asked them to send me a letter stating what we agreed on and the lady is like "Yes, saying that you're no longer obligated after the debt is paid off. Once the debt is paid off just to give you some peace of mind we can give you a documented receipt showing that the account number and the balance was paid off and was taken care of so it won't negatively affect you or anything." So...after this is paid of, and somehow this debt shows up on my credit report, I can call them back and tell them that they need to delete it because she said it won't negatively affect me right?

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Unfortunately, no. It will appear on your credit report for 7 years. 

Top Contributor
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If they are sending the letter AFTER the debt is paid in full, the debt is going to remain on your account for 7 years, then fall off.  The ideal situation is to negotiate the agreement in writing so you have proof of what each side said.  You will keep copies of all correspondence.  What you really are seeking (IMHO) is a "pay for delete" agreement and you want a copy of the agreement to delete prior to sending them that final payment.  Then, you should expect that account to drop of your credit report very soon (30 days) after the final payment is sent in. 

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