NT Debt Collection Help

[jayhood23]

Back in 2009 I broke the lease with the apt complex I lived in and because of my situation at the time and it went into collections. I'm trying to pay the debt off and was curious to know how much they would settle on my balance of $1483 if anything. 
Been trying to call all day to talk to them but the line has been busy all day 

Any help or insight is appreciated 

 

[SHERLOCK87]

usually they want all of it if it was recent. most likely set up a payment plan.

 

[color me green]

Originally Posted by mholmes87

usually they want all of it if it was recent. most likely set up a payment plan.

This. And TRY to have it removed as a negative report on your credit report (which I doubt but worth the try).

 

[jayhood23]

Originally Posted by color me green

Originally Posted by mholmes87

usually they want all of it if it was recent. most likely set up a payment plan.

This. And TRY to have it removed as a negative report on your credit report (which I doubt but worth the try).

I mean it was 3 years ago so its been a nice little while. 

 

[color me green]

Originally Posted by JayHood23

Originally Posted by color me green

Originally Posted by mholmes87

usually they want all of it if it was recent. most likely set up a payment plan.

This. And TRY to have it removed as a negative report on your credit report (which I doubt but worth the try).

I mean it was 3 years ago so its been a nice little while. 

Even though, it's still gonna show as a negative report due to collection. Unless you don't have any use for your credit score for the next 4 years then you can have it completely remove without paying a penny. 

 

[color me green]

Once it passes seven years, it comes off your credit report. Unless you live in Rhode Island, it is beyond the statue of limitations, which means you can't be sued. The collection agency can still try to collect by calling but that's all. Just send them a "Cease Communications" letter.

 

[jayhood23]

I'm just trying to settle at maybe $500 or $600, long shot but better than nothing

 

[color me green]

Originally Posted by JayHood23

I'm just trying to settle at maybe $500 or $600, long shot but better than nothing

Do that. And if they're able to accept the offer, make sure to ask the debt collector to remove all negative information from your credit records related to the settled debt. And have them put it in writing.

 

[21 world b free 21]

Pretty sure it stays on your credit report even if you do pay it. I think they just update the status to closed or settled or whatever. Not sure how that difference affects your score. I would think they would settle for 25-40% but as others have said it might not be worth paying at all this point

 

[jayhood23]

Originally Posted by 21 World B Free 21

Pretty sure it stays on your credit report even if you do pay it. I think they just update the status to closed or settled or whatever. Not sure how that difference affects your score. I would think they would settle for 25-40% but as others have said it might not be worth paying at all this point

Well I'm trying to move into a different apartment and with it on my credit I can't lease a different apartment so that's why I'm trying to settle it now

 

[color me green]

Originally Posted by JayHood23

Originally Posted by 21 World B Free 21

Pretty sure it stays on your credit report even if you do pay it. I think they just update the status to closed or settled or whatever. Not sure how that difference affects your score. I would think they would settle for 25-40% but as others have said it might not be worth paying at all this point

Well I'm trying to move into a different apartment and with it on my credit I can't lease a different apartment so that's why I'm trying to settle it now

Some apartments are lenient with the credit report due to the economic hardship, but if you don't meet the minimum requirements, increasing the down payment might help. 

 

[scuse7]

Originally Posted by JayHood23

Originally Posted by 21 World B Free 21

Pretty sure it stays on your credit report even if you do pay it. I think they just update the status to closed or settled or whatever. Not sure how that difference affects your score. I would think they would settle for 25-40% but as others have said it might not be worth paying at all this point

Well I'm trying to move into a different apartment and with it on my credit I can't lease a different apartment so that's why I'm trying to settle it now

Depends on your landlord and how they handle things. Most will help you out if you pay up.
Set up a payment plan and get it off your credit report.

 

[seasoned vet]

never settle. its almost as bad as not paying.

 

[ripyzyz]

Has it been sold yet?

If so I would send a letter asking for pay for deletion(offer them what you said you wanted). If they agree get it in writing before any money is exchanged.
If not, I'd say $#$! it and leave it since a "closed" or "settled" file literally does nothing for you credit wise.



BTW, what state are you in?
edit: if you are in GA, as stated in your profile, the sol is 6 years for a written contract.  Like I stated if they say no, I'd say %#%@ it.

 

[lightweight champion]

Took this from the "Secrets About Your Job" Thread
 

Won't your credit score be affected?

By the time it goes to collections, your credit score is already uffed up so it might not matter depending on the age of the debt.  My old company used to buy million dollar portfolios of old debt that was already stat barred (statute of limitations already expired) for pennies on the dollar.  Our job was to scare people into thinking they would get sued if they didn't pay their $600 Sears debt that was now $2200.  Of course we would tell them that we would accept 50% of the $2200 if they could make a lump sum payment right away.  What is messed up is that if you make a single payment (for any amount, even $1), that old debt is now "reactivated" as a new debt and can now be placed on your credit report as such.

I keep telling people this. I love when collections call. I curse them out so bad and talk stuff. Junk debt buyers. Usually they arent legally even able to collect on the debt and vioate all  kinds of credit laws.

When they call me at work or on my cell, i send them a cease letter so they cant call me anymore. If they report me to the credit agency, I validate the debt with them, which they have to show proof they own the debt legally and allowed to collect in my state. Most of time it gets deleted and debt is gone once they realize  im smarter then average bear.

I sued a few collection agency for violations and won $1500 at a time

 

[6 Rings G.O.A.T.]

*bookmark*

 

[1994ss]

Originally Posted by Lightweight Champion

Took this from the "Secrets About Your Job" Thread
 

Won't your credit score be affected?

By the time it goes to collections, your credit score is already uffed up so it might not matter depending on the age of the debt.  My old company used to buy million dollar portfolios of old debt that was already stat barred (statute of limitations already expired) for pennies on the dollar.  Our job was to scare people into thinking they would get sued if they didn't pay their $600 Sears debt that was now $2200.  Of course we would tell them that we would accept 50% of the $2200 if they could make a lump sum payment right away.  What is messed up is that if you make a single payment (for any amount, even $1), that old debt is now "reactivated" as a new debt and can now be placed on your credit report as such.

I keep telling people this. I love when collections call. I curse them out so bad and talk stuff. Junk debt buyers. Usually they arent legally even able to collect on the debt and vioate all  kinds of credit laws.

When they call me at work or on my cell, i send them a cease letter so they cant call me anymore. If they report me to the credit agency, I validate the debt with them, which they have to show proof they own the debt legally and allowed to collect in my state. Most of time it gets deleted and debt is gone once they realize  im smarter then average bear.

I sued a few collection agency for violations and won $1500 at a time


That takes a bit of time though. It's not an overnight sort of thing.