Posted on
July 7, 2009
at
9:08 am
Does anyone have a resource that can show me specifically what I need them to say in writing, and how to know if I'm being bullshat by them? thanks!
Posted on
July 7, 2009
at
9:16 am
Well in simple terms you need to get a settlement letter sent to you before you actually make the payment. Such a letter will describe the dates and terms of the settlement reached between you and the collector. It should also state that upon receiving your payment that the creditor will report to the major credit bureaus that the account has been settled and you no longer owe anything. Settlement letters are different depending on who you worked with, but that covers the basics.
Posted on
July 7, 2009
at
9:23 am
Ok, that is helpful. Do you know where I can look at a sample?
Posted on
July 7, 2009
at
9:28 am
That is awesome, thank you!Related question - once you do this (make the agreement, pay up, settle, etc), is it finished? More to the point, are they required by law to stop calling and hassling? I know it can and often does sully your credit report, that's fine - I don't need any more credit. I just want to be left alone.
Posted on
July 7, 2009
at
9:56 am
Once the account has been settled, all collection activity should cease.
