delinquent account affect credit

[sandmail101]

What is the name of your state (only U.S. law)? fl

can you tell me if i fail to pay for a contract for safetouch security - i paid the 3 years upfront and since i failed to cancel the contract 60 days prior to the end of the 3 years i now owe for 2 more years of monitoring, which was sent to collections for a total of 1149.00. how will this affect my credit? right now i have excellent credit.

[Zigner]

Originally Posted by sandmail101

What is the name of your state (only U.S. law)? fl

can you tell me if i fail to pay for a contract for safetouch security - i paid the 3 years upfront and since i failed to cancel the contract 60 days prior to the end of the 3 years i now owe for 2 more years of monitoring, which was sent to collections for a total of 1149.00. how will this affect my credit? right now i have excellent credit.

Yes, they can report it.

For reference, see the OP's other thread at http://forum.freeadvice.com/consumer-contracts-guarantees-warranties-22/safetouch-security-contract-signed-employee-491277.html

[sandmail101]

if i negotiate a settlement with the collection agency and they send me a settlement agreement will something still show up on my credit report as going to collection

[sandmail101]

does anyone have an answer?

[Zigner]

Originally Posted by sandmail101

if i negotiate a settlement with the collection agency and they send me a settlement agreement will something still show up on my credit report as going to collection

It might...

[rhinocl]

It depends on what is agreed to. What you want is pay for delete. Search on those terms on any credit forum for the letter offer for YOU to send them. Some creditors and collection companies will not do that. Those same forums can then advise if still a good idea to pay based on amount statutory deadline for removal etc.

[Tania123]

If anything shows up on your credit, dispute it.. I help people get financing and I look at credit reports for a living.. There really is no rhyme or reason for people to put things on your credit. If you have a common last name, that is reason enough. People/businesses do first, and then wait for the fall out.

Most of what is reported to credit agencies is incorrect. So pull your credit, and dispute any accuracies.

If you've been wronged, sue..

I've done it.. and it works..

If something is inaccurate, and the party refuses to take it off, look at the FCRA, and see how many violations are piled up. Then, sue.. Before suing, make a reasonable attempt to let them know of the error, (if any) and what they need to do to stop a lawsuit. Send everything certified mail.

[Tania123]

One more thing..


google your county's court rules.. and find out if the collection attorny agency even has a right to ask you for a collection!!

In my state, all collection agencies have to pay a $25,000 surety bond to even be able to write me a letter..

My business name is a commmon name, (my mistake) and in this market, a business with a common name went out of business.. I am getting these horrific debt collections calls on my dime.. I found out the names and numbers of these collection agencies and they are not even able to do business in my state!!!!!

I can counter sue!! When the violations rack up.. thats EXACTLY what I am going to do!!! (hey, when the world gives you lemons, you make lemonade!!)