Legal Question in Credit and Debt Law in Texas

Credit Issue

I have a piece of bad debt just over $4,000.00. The credit collector advised if I pay have of that amount, just over $2,000.00, than he will delete the blemish off my credit report at all three bureaus. How should I proceed with this? Can they actually do such. I don't want to pay the amount in one lump sum if they are not going to back up what they say.


Asked on 2/28/07, 2:43 pm

2 Answers from Attorneys
Sharon Campbell Sharon K. Campbell

Re: Credit Issue

You need to get them to put it in writing. I would not pay them a dime until I got that promise in writing.

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Answered on 2/28/07, 3:17 pm
James Grissom Law Office of James P. Grissom

Re: Credit Issue

Right. You can write the letter and get them to sign it. Be sure and put in there that there will be no 1099. Sometimes they try to make the difference a taxable income event to you. I should be able to hear them squeal from here when you try that.

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Answered on 2/28/07, 3:33 pm


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