I'm wondering if it is better to negotiate with a CA to get the account on my credit report as 'Pay for Delete' meaning after I settle they will remove the account or to let the record stand and have it remarked as 'Paid in Full/As Agreed'?
I've heard that it is very bad to have a collections account on your report no matter what the status is which is why I'm leaning towards getting a Pay for Delete but wouldn't it look wrong on my part if all you saw was the original creditor's account and it said 'Charged off/Bad Debt' but not account saying that balance was paid?
I'm not sure what to do. I don't think there is anyway to get the original creditor to remove the account listing once I've settled with the collections people so is it better to have the CA account listed as paid or get them to remove it completely once I've settled?
By signing up for counseling session, your provided details (Name, Email ID and Phone No.) will be forwarded to the company advertising on the DebtCC. However, you have no obligation to use their services.
Some creditors and collection agencies refuse to lower the pay off amount, interest rate, and fees owed by the consumer.
Creditors/collection agencies can make collection calls and file lawsuits against the consumers represented by the debt relief companies.
Debt relief services may have a negative impact on the consumer's creditworthiness and his overall debt amount may increase due to the accumulation of extra fees.
The amount which the consumer saves with the use of debt relief services can be regarded as taxable income.