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 Procedure for removing a collection account from credit. View next topic
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Credit Yoda
Dud?


Joined: 20 Oct 2009
Posts: 13
Location: Nationwide

Procedure for removing a collection account from credit.
PostPosted: Thu Mar 03, 2011 6:25 pm Reply with quoteBack to top

Another free tip to you mortgage pros:

Prior to making payment on a collection, contact the collection company and request a "pay to delete" letter. If the collection company agrees, make payment and use this document to rapid rescore the account.

The collection will be permanently removed in a week.

There's a big difference between a zero balance letter, or a paid in full letter. Those simply change the status of the collection from unpaid to paid. Which will still remain on the report and continue to pin the credit scores down.

You're only given this opportunity at time of payment to get the deletion letter, trying to go after the fact for this document is futile.
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t2940
Schumpeter Reincarnate


Joined: 13 Feb 2008
Posts: 5548
Location: cave dweller

Re: Procedure for removing a collection account from credit.
PostPosted: Mon Mar 07, 2011 10:23 pm Reply with quoteBack to top

That really is a good idea and you're right............after the fact is like not gonna happen.

My stratagy these days is to tell them income is down due to outsourcing of jobs and then let them talk to my recorder.........

Your way is better Wink
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