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I'm trying to settle this old bill from a phone company i owed from years ago. The collections agency has it right now and is asking me to pay only 50% of what was due a long time ago. But the guy said IF i paid the full amount he could completely remove it off my credit. But if i only paid half the amount, it would state in my credit that it was paid for and settled but would not be removed from my credit. Is this true? Can he completely remove this from my credit as if i never owed this? OR is this a whole bunch of balony?
But the guy said IF i paid the full amount he could completely remove it off my credit.
He can, but he won't. He is lying.
But if i only paid half the amount, it would state in my credit that it was paid for and settled but would not be removed from my credit. Is this true?
If you pay it all, they will mark it as a paid collection account, and that is a negative entry itself. If you pay part of the bill in settlement, they will mark it as a settled account that was settled for less than the amount due - again a negative. More importantly, paying anything will actually work againt you in that for an old bill like this it would normally come off after seven eyars, but that seven years is from the date you made your last payment. In this case, if you paid, the account would remain on your record for ANTOHER seven years. don't pay a time.
Can he completely remove this from my credit as if i never owed this? OR is this a whole bunch of balony?
You are besmirching the good name of baloney here. This guy is lying so he can get you to pay.
Call me if you would like. I will not charge you just to talk on the phone and we could discuss your options in more detail. 214 779-3427 Calling this weekend would be ok too.
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Answers by Expert:
John Hall
Expertise
Law school graduate, Juris Doctorate (J.D.) Degree; Over 25 years of experience throughout the United States in bankruptcy law matters (Chapters 7, 11, and 13 of the United States Bankruptcy Code) primarily representing individual debtors with consumer debt or small businesses; Experience has included all aspects of debtor/creditor relations.
Experience
FREE BANKRUPTCY HELP. If you are being sued, if your home is being foreclosed, or if you are being harassed by bill collectors, filing for bankruptcy may be a quick and inexpensive solution.. The mere filing of a bankruptcy will operate as a federal court order (it is called an automatic stay) to stop all bill collection efforts, including lawsuits that are pending or ongoing. Bankruptcy is a legitimate way to meet your problems with debt head-on. The bankruptcy law is designed to give you a second chance to make a new start without the psychological and financial burden of pressing debts that you are unable to pay. Depending on what state you live in and what your assets are, it is very unlikely that you are going to have to lose anything if you file for bankruptcy, and this is something that you can do immediately without having to pay the $500 to $1,500 attorney fees that most attorneys charge. Also, you might be surprised that you can file for bankruptcy and that it will not have the devastating effect on your credit that most bill collectors describe. Life is too short to have all this anxiety over losing your car through repossession, getting evicted from your home, or losing your home through foreclosure. Bankruptcy law was designed to give you a second chance. I will not charge you just to talk on the phone. Call me at 432 853-5711, or send me an email at j_h14@hotmail.com with your telephone number, and I will call you back.
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