Bad Credit Repair Discussion Forum - View Single Post

Hedwig · 06-10-2008, 04:20 PM

First of all, what they paid for it does not make the amount of the debt any less. It doesn't matter if they got it for free. I know that a lot of people think it's not right for them to collect a lot more than they paid, but that's the nature of business.

Just because you pay it is not going to make it go anywhere, either. If it's two years old, it can stay on your report for another five years. Paying it will make it a paid charge off, which is still a negative. If you want to negotiate for a pay for deletion (which they may not do anyway) you're going to have to pay way more than 20%.

If this is still in SOL, remember that they can sue you and possibly get a judgment for the amount of the debt plus attorney's fees.

06-10-2008, 04:20 PM	#4 (permalink)
Hedwig Administrator Join Date: Nov 2004 Location: Greater DC area Posts: 7,283 Casino Cash: $1206339	First of all, what they paid for it does not make the amount of the debt any less. It doesn't matter if they got it for free. I know that a lot of people think it's not right for them to collect a lot more than they paid, but that's the nature of business. Just because you pay it is not going to make it go anywhere, either. If it's two years old, it can stay on your report for another five years. Paying it will make it a paid charge off, which is still a negative. If you want to negotiate for a pay for deletion (which they may not do anyway) you're going to have to pay way more than 20%. If this is still in SOL, remember that they can sue you and possibly get a judgment for the amount of the debt plus attorney's fees. __________________ The answer is 42!!