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'Pay for Delete' or 'Paid in Full/As Agreed' for settling a collections acct?

Big P
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Hello all,

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?

I would try for the pay for delete. It always looks better to NOT have collection accounts on your credit report. They don't have to agree to it, however, so...if they don't, then you can negotiate for the "pays as agreed, paid in full, or paid in settlement."

Good luck to you.

Sub: #1 posted on Tue, 04/27/2010 - 23:31

OhioGal1 OhioGal1
Moderators Cum Industry Expert
(Posts: 5254 | Credits: 830.39)

Paid in full, agreed or settled on a collection tradeline all mean the same were in collections and paid....negative.

Some will do a pay for delete...others wont or cant. Most wont because a debtor is not a customer and they dont care what your credit looks like.

Sub: #2 posted on Tue, 04/27/2010 - 23:39

Moderators Cum Industry Expert
(Posts: 17209 | Credits: 4746.14)

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