About Me:
I have been performing credit repair since 2004. It is my full-time job, I work alone, all documents and paperwork are performed manually by myself.
I charge $80 per item per bureau (if I can fix the item), there are no other charges.
Questions, advice, and analysis of your credit report is free.
September Credit Repair Tip: How To Negotiate With Collection Agencies
If you want, or need, to negotiate with a collection agency, keep these points in mind:
1 - Settling in full for a lesser amount does not hurt your score, all that matters is that the balance is zero. Your score will improve with a zero balance.
2 - You will get the most discount if you can pay in a lump sum, if you want to make payments, they probably won't offer as much of a discount.
3 - Offer 20%, accept anything under 60%.
4 - Try to insist that they email the settlement agreement before you pay, but keep in mind that they aren't required to, and some won't do it.
5 - If the collection agency hasn't updated the collection on your credit report for more than a year, it may be best to ignore it for now (unless your mortgage underwriter is requiring settlement).
6 - In CA, if the account charged off less than 4 years ago, the creditor or collection agency still has the option of suing you. (other states may have different statute of limitation lengths)
Please contact me if you have further questions about collections on your credit report.