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"Account legally paid in full for less than the full balance"



rubyoro0

Sub: "Account legally paid in full for less than the full balance"
Sat, 01/01/2011 09:51

Is this ideally what we want or is there something better that I can negotiate?



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NASCAR_Devil
NASCAR_Devil


Posts: 4629
Credits: 30806.994972777

Sub: #2 Absolute rubbish. If you dispute a tradeline for accuracy they Sat, 01/01/2011 - 09:51



Absolute rubbish. If you dispute a tradeline for accuracy they have 30 days to resolve it (45 days if disputing from your annual free report). If they do not respond to the dispute, then it can be deleted but they could also update it and correct it. The only permanant deletes would be accounts opened as a result of ID theft and collections that pass the 7.5 year mark.


Unregistered

Sub: #3 Hey Dominique, I thought you could only remove negative listingsSat, 01/01/2011 - 00:48



Hey Dominique, I thought you could only remove negative listings by disputing them with the Credit bureaus. Is there any other way to get them removed faster?


Unregistered

Sub: #4 Well, if your lender is not accurately reporting it then you canSun, 12/19/2010 - 23:52



Well, if your lender is not accurately reporting it then you can have the account removed from your credit report. Legally. It's a few steps and takes anywhere from 90 to 120 days but it is a permanent deletion.
I am doing this for some clients right now.
I'm not going to advertise my website here, so don't even give a way to get there.period.


Unregistered

Sub: #5 My short sale was reported to the bureaus "Legally Paid in Full Sun, 12/12/2010 - 05:13



My short sale was reported to the bureaus "Legally Paid in Full for Less then Full Balance"also.
I dont care how derogatory that may sound, the fact is LEGALLY PAID IN FULL means that the lender accepted less than what was owed to consider the account as paid in full, right? Thats exactly what that means. Settled is not in there, charge-off is not in there....BUT GUESS WHAT!
Chase decided to send my deficiency balance to their recovery department after this report and now it is in the hands of vultures, Oxford Mgt.
So, what good is a credit report if it doesnt mean squat and if the lender can not be held liable for accurately reporting it? My attorney, my realtor and myself are all scratching our heads on this one and now we have an uphill battle, SO....dont trust how its reported!


paulcahill80
paulcahill80

Debt Samaritan
Posts: 2254
Credits: 24541.75

Sub: #6 Quote:Originally Posted by AnonymousIs this ideally what we wantWed, 08/04/2010 - 11:47



Quote:
Originally Posted by Anonymous
Is this ideally what we want or is there something better that I can negotiate?


Hi ruby,

I would suggest you to go with the offer. Since the offer is made from the creditor itself, it's good to agree to an offer where you can pay less legally. Just, ask them to report the account as 'Paid' to the credit reporting agencies as well.


Unregistered

Sub: #7 Quote:Originally Posted by AnonymousIt hasn't gone to collectionWed, 08/04/2010 - 10:38



Quote:
Originally Posted by Anonymous
It hasn't gone to collections yet. The banks Collection Dept. is the one that issued this offer.



Also, it does not say "settled" anywhere in the quote.


Unregistered

Sub: #8 Quote:Originally Posted by SOAPLADYSettled means that you did noWed, 08/04/2010 - 10:36



Quote:
Originally Posted by SOAPLADY
Settled means that you did not pay as agreed, but paid less. If it collection account, really doesnt matter...a paid collection by any means aint much better than an unpaid one.


It hasn't gone to collections yet. The banks Collection Dept. is the one that issued this offer.


SOAPLADY
SOAPLADY


Debt Samaritan
Posts: 17124
Credits: 402718.08314284

Sub: #9 Settled means that you did not pay as agreed, but paid less. IfWed, 08/04/2010 - 09:14



Settled means that you did not pay as agreed, but paid less. If it collection account, really doesnt matter...a paid collection by any means aint much better than an unpaid one.

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http://www.debtconsolidationcare.com...allenders.html
PDL's are ILLEGAL in the following states...
AR, AZ, CT, GA, ME, MD, MA, NJ, NY, NC, PA, VT AND DC
OH AND NH have very restrictive low cost interest rate laws.

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