Credit Card Collection Agency Tip
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Posted: Thu Jan 13, 2005 12:31 am
Post subject: Credit Card Collection Agency Tip
Lostinplace
Date: 7/28/2000 11:20 pm CDT
I got a call from a collector this week concerning a credit card charge off that is two years old and even though the allege amount is several thousand dollars, the collector, whom is the second collection agency to handle this account for the original creditor, offered to settle for 50% of what is alleged to be owed, which is close to the actual amount I actually old. The collection agency told me that it is illegal to change the rating on my account, but offered to change it from a R-9 (charge off), to a R-5, if I settled this week. What effect does an R-5 rating have on my credit reports? Ironically, I got a credit card offer this week for the same creditor, for a platinum card, go figure? Thanks in advance, Lostinplace.
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
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Posted: Thu Jan 13, 2005 12:31 am
Post subject: Credit Card Collection Agency Tip
Board Monitor - AD
Date: 7/30/2000 10:23 pm CDT
Dear Sir/Madam,
Unfortunately, I am not familiar with those rating terminologies, I would suggest you contact one of the credit bureause directly for assistance on your question. Try Experian (http://www.experian.com).
Sincerely,
Alex Daskaloff
Author of "Credit Card Debt..."
CreditCardFreedom.com
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Posted: Thu Jan 13, 2005 12:31 am
Post subject: Credit Card Collection Agency Tip
cdlilly
Date: 8/26/2000 8:52 pm CDT
Well the only thing you can do if you are interested in perhaps paying 50% is to ask the collector what a R5 is?
Fill out the plantium see what happens but dont tell the collector about it.
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Posted: Thu Jan 13, 2005 12:31 am
Post subject: Credit Card Collection Agency Tip
Lostinplace
Date: 7/28/2000 11:20 pm CDT
I got a call from a collector this week concerning a credit card charge off that is two years old and even though the allege amount is several thousand dollars, the collector, whom is the second collection agency to handle this account for the original creditor, offered to settle for 50% of what is alleged to be owed, which is close to the actual amount I actually old. The collection agency told me that it is illegal to change the rating on my account, but offered to change it from a R-9 (charge off), to a R-5, if I settled this week. What effect does an R-5 rating have on my credit reports? Ironically, I got a credit card offer this week for the same creditor, for a platinum card, go figure? Thanks in advance, Lostinplace.
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
archive
Posted: Thu Jan 13, 2005 12:31 am
Post subject: Credit Card Collection Agency Tip
Board Monitor - AD
Date: 7/30/2000 10:23 pm CDT
Dear Sir/Madam,
Unfortunately, I am not familiar with those rating terminologies, I would suggest you contact one of the credit bureause directly for assistance on your question. Try Experian (http://www.experian.com).
Sincerely,
Alex Daskaloff
Author of "Credit Card Debt..."
CreditCardFreedom.com
archive
Posted: Thu Jan 13, 2005 12:31 am
Post subject: Credit Card Collection Agency Tip
cdlilly
Date: 8/26/2000 8:52 pm CDT
Well the only thing you can do if you are interested in perhaps paying 50% is to ask the collector what a R5 is?
Fill out the plantium see what happens but dont tell the collector about it.
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
posted by CardRatings.com at 4:05 PM
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