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I'm looking to repair my credit score. I know that I have two items on my score that have gone to collections. One is a financing account with HSBC and the other is a utility bill. I have the funds to pay both off in full, but I'm not sure what the best way to approach the subject is with the bill holding company or the collections department.
Is there anything that I can do to have these credit blemishes removed from my score completely? A co-worker suggested that I can't have the items deleted, but I can request a release letter so that the charge will show "paid in full" on my credit report.
I'm so lost.....and frustrated. PLEASE help!!
If they are active accounts, meaning if they are still with the original creditor then you may be able to have them remove the blemish. Do you know if they are with the original creditor or are they with a third party collection agency.
Call the original creditor and find out where the accounts are and if they will work with you on this. All you can do is approach them with the request and see what they are willing to do for you. You never know until you try.
Thank you for the reply. I'm not 100% sure where the accounts are being held at the moment. I have recently received letters from a collection agency for both, but then today received another phone call from the HSBC collections department.
In a case like this, should I be trying to work something out with them over the phone or through mail? I see a posting of a "pay for deletion" letter, but does this apply where I'm not disputing that I actually owe the debt?
I've found alot of conflicting information online about how to handle these things......and I'm not really sure what can be done, or if it matters that I'm in Canada even. Alot of the info I've found was based from the US. Does it even matter?
repairing credit
Hi Heatherbrianna,
Welcome to this community :)
Rather than trying to work out the problem over the phone, you should send them letters through certified mail, requesting a return receipt.
You can first send them a debt validation letter just to make sure that you really owe these debts, and the amount you owe. You will get a sample debt validation letter at http://www.creditmagic.org/repair/sampleletter-debtvalidation.html .
After the debt validation, you can make the payments. However, before making the payments, you can request the collection agencies to agree to a "Pay for delete" agreement (PFD). You will get a sample PFD at http://www.creditmagic.org/repair/pay-for-delete.html .
Thanks,
Aaron
payment plan with original creditor
If a bill has gone to a third party collection agency, can you still work out a payment plan with the original creditor?
you need to pay the person that owns the debt. if the original creditor no longer owns the debt, then you can not pay them. you can determine this by sending a DV letter to the agency that contacts you.
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