I have debts that have gone to collections...

Question

and I'm about to pay them off but I'm worried that there's something I might miss. Do I just call the collection agency and pay them the money and that's it? Is there a letter that I should request of them that says I've paid my debt in full? I've never done this before and I don't want to get screwed.

Answer 1

Yes you contact the collection agency but definitely try and negotiate a "pay for delete" with the payment. If you can pay the entire amount, please do so as it's better than a settlement.

Make sure you get the "pay for delete" agreement in writing and it says they'll delete not just mark the account as "paid". If it's only marked as "paid in full" it'll still be on your credit report for the next 7 years.

Answer 2

If you intend to pay off the debt send the money in the form of a money order. After 5 to 10 days you can request a proof that it was cashed and it is proof of payment if anyone comes back on you . Your free and clear.

Answer 3

I would be careful on treading that ground unless I knew what steps to take and how it will affect me.

Do read up on this.  Get every single agreement in writing.

Ask for a "pay to delete" off your credit reports.

Send any snail mail certified mail with return receipt, and DO NOT sign anything, nor hand write any thing.

Check out this excellent FREE message board on this here:

http://creditboards.com/forums/index.php...