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agreement with collection agency

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csal63

Guest
georgia

This is regarding an older collection account. The collection agency said he would completely remove it from the credit report when paid.
If I draw up a contract with him and he agrees and signs before funds are paid is he legally liable to fullfill his agreement?

Thanks,
csal63
 


racer72

Senior Member
How old is the debt? There is a chance the statute of limitations has expired on the debt and you can tell them to go away.
 
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csal63

Guest
to Halket

thanks for informing me on that. i appreciate you.
 

JETX

Senior Member
Csal, I don't know if your comment was intended to be sarcasm or not, but we (senior members) have a responsibility when we see these 'pyramid marketers' coming onto the forum to post warnings so that you (or others) don't fall for their scam. My post was copied to ALL posts made by this spammer and was not directed at you or your situation.

So, lets look at your question....
Q) "If I draw up a contract with him and he agrees and signs before funds are paid is he legally liable to fullfill his agreement?"
A) Yes, but no. The problem in your question is 'legally binding'. Yes, IF the signer has the authority (by his company) to sign on their behalf (probably not), AND if they were to return this document to you, then you might have a case to present to a court... with LOTS of your money.

However, there is more to this than you seem to realize. The CRA (Credit Reporting Agency's) only responsibility is that your report be accurate. And once the record is entered, it is very hard to remove.... even by the creditor. The creditor can 'update' it to show more accurate data, but very unusual to 'remove'. You might just ask that they report your account as 'paid as agreed' with an 'R1'. That is better than just removing it, since it gives you positive score points.

So, get your written confirmation of "paid as agreed", R1. Then, if the creditor fails to update, send a copy of the written notice to the CRA and ask that they investigate and revise your report. (That is your 'right' per the FCRA - Fair Credit Reporting Act).
 
C

csal63

Guest
to halket

how could someone telling you thank you sound sarcastic? not thanking you would have been an insult and rude. i appreciate all the input i could possibly get. again, i sincerely thank you for your input.

csal63 :)
 
G

generallegal200

Guest
Halket
I didnt hear of a company called prepaid legal, what is it?
 

JETX

Senior Member
Re: to halket

csal63 said:
how could someone telling you thank you sound sarcastic? not thanking you would have been an insult and rude. i appreciate all the input i could possibly get. again, i sincerely thank you for your input.
Sorry, I may have misinterpreted your "I appreciate you" statement when posted after my warning about the 'pre-paid legal pyramid'.
Apology extended.
 

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