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robbennett

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settlement offers?
following advise in these forums to raise my credit numbers

I disputed some things on my credit, others I have gotten settlement offers.
I want to know if this sounds right to you.
I had a bill with interest that amounted to $405 the principal was $284.36 I got a settlement offer for $161. so I called it to pay. The first thing I was told was it is too low but if you have it in writing I have to give it to you. Well yes you do!! I asked for pay to delete. She came back with pay to delete I had to pay the full amount otherwise they would leave it on my credit as paid but not in full and will stay on my credit report. She wanted the full $405, I refused. She said she would accept the principal of $284.36. I agreed to that amount and she came back saying my payment for $291.76 was accepted. I was like whoa wait I didnt authorize that amount, she told me it was a processing fee. They will report it to all three bureaus by friday and it will be off within 30 days

Is this right or did I get suckered? I feel so alone and defenseless against them

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Did they agree to delete the items from your report for that payment?  If so, I hope you got it in writing first.  It will probably take 30-60 days for change to show up on your credit report.  Did you get suckered?  Well, that is hard to say.  If the debts were really old (like 7 years), then yes, you did get suckered.  If you didn't get anything in writing saying they would delete the account, then legally they can continue to report it for 7 & 1/2 years from the date you paid it off, so basically the accounts are "re-aged".  To learn more, go to www.credit.about.com and read about paying off debt and collections.  By the way, collectors usually won't take less than the full amount for a pay-per-delete, so I really hope this works out for you!

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