Can a collection agency remove an account?

[joaniemccabe@hotmail.com]

I recently had an account turned over to a collection agency from a bank. It was for approx. 10,000 $. They offered me a settlement of 8000. Just wondering what to do. Should I pay the full amount or take the settlement? Should I get something in writing before I pay them, so as to have it removed from the bureaus? If he refuses to remove it, should I pay it or keep negotiating or dispute it? I have already had several conversations with them and have agrred to pay in full, but have since done some researching on the internet.

[Trish]

Originally Posted by joaniemccabe@hotmail.com

I recently had an account turned over to a collection agency from a bank. It was for approx. 10,000 $. They offered me a settlement of 8000. Just wondering what to do. Should I pay the full amount or take the settlement? Should I get something in writing before I pay them, so as to have it removed from the bureaus? If he refuses to remove it, should I pay it or keep negotiating or dispute it? I have already had several conversations with them and have agrred to pay in full, but have since done some researching on the internet.

You may want to start a new thread since this is a different issue.....it just makes it easier to search the forums and also keep the thread strictly to your questions/issues.

First of all.....um wow that's a large debt. You need to be REALLY careful if that's still within the SOL. Has the debt been validated? That is the first thing you need to do.
As far as a settlement.......you absolutely ALWAYS get ANY agreement (especially CAs) in writing.

If you can, start a new thread and give more info. What kind of debt, how old it is, etc..... and then we can go from there. Whatever you do....DO NOT SPEAK WITH THEM OVER THE PHONE. From now on, only deal with them through written correspondence.

Oh, p.s....
Just to be safe, you may want to pm Chane and get him to remove the email domain in your user id..... Would hate to see you get spammed or identified by CAs. They do circulate these boards, so be careful and don't list personal info.