Or do I even need them…?
Ultimately I am in my mid-twenties, I do not deny nor do I make excuses for the numerous financial mistakes and risks I made in early teens/early adulthood.
I have been contemplating my current life status as a growing adult with much more responsibly and as such wish to fix my credit as I hope to buy a small starter home in the near future. As of right now my credit is not in good standing, I am currently viewed as a high risk to lenders with a score that’s not that far from 600, but defiantly not perfect by any stretch of the imagination.
I have a few "potential risk closed" marks on my file and other debt I wish to take care.
However with that said I know that by paying debts it could risk my credit as it could bring an old account up to current or bring it out from the back of the closet – so to speak. That’s why I only wish at this time to pay debts that are current, as in just reported last year and by only paying one at a time as I deem fit or in a manner which won’t put my score in further jeopardy.
The way I plan on paying is by sending a pay to delete letter, again, do not want to jeopardize my current score – even though its not perfect. However the problem is I can not find any documentation from the original company itself prior to the debt being sold to a collection company which lists the full account number. I recognize the first five numbers (then on the report the rest is x’ed out) and I remember the exact amount I owed this company. So I know who the debt belongs to and who I need to pay.
I need the account number for the re: section. Can I send them the pay to delete with account numbers as listed on the report along with a copy of their entry from my report?
I just don’t want to contact any of the collection agencies who I do not have documents on as I do not want to run the risk of dragging attention to past debts only so they can either reset the open date or bring it to current.
I was approved for a secured credit card and doing everything I know to help fix this, if you have any other suggestions please let me know!
In theory a pay to delete by phone would be a great option. However the pay to delete I have acquired states that if they agree it is a binding contract subject to state and federal law, therefore it would be in writing.
I’ve heard to many stories of pay to delete by phone only to have the collection agency go against their verbal word – then you’d have no proof of the agreement.
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Fri, Feb 25, 2011