Results 1 to 3 of 3
Thread: Pay for Delet
-
LinkBack
LinkBack URL
About LinkBacks- Bookmark & Share
- Tweet this thread
- 07-17-2009, 04:40 PM #1
White Belt
- Join Date
- Jul 2009
- Posts
- 1
Pay for Delet
Just curious?
Why would a collection agency have a policy that says they "do not delete" an account from the the three reporting bureaus? I have spoken to 2 different collection agencies today and have offered to pay them the whole amount in full. All I have asked in return is that they delete the account from my credit report. They both say their company policy is to only report that the account is paid, but that they do not delete it.
This does not make sense to me during this economic climate. I am offering them the money that they seek. Yo would think they would be happy to get their money? Any ideas? Thanks
-
One possibility might be that their clients want them to have that policy. Their clients being creditors from whom they buy the past due debt. Creditors rely on solid information from the credit bureaus about an individual's recent credit history in order to make a risk assesment about whether or not to grant a new loan and what the interest rate, etc should be.
So if collectors simply delete notable negative accounts from a person's credit report, creditors aren't really getting the full picture when that individual applies for a loan again in the near future.
I'm not saying this is what it is... but I think it's a possibility.
- 08-23-2009, 10:38 PM #3
White Belt
- Join Date
- Aug 2009
- Posts
- 5
Just a FYI. There are statues of limitation on accounts depending on your state. If the collection is old you may not even have to pay this legally. What state do you live? And, how old is the debt?
Reply With Quote
