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Personal Finances / Credit Cards and Consumer Debt


Subject:  Re: Collection Agencies Date:  11/14/2001  7:21 PM
Author:  xtn Number:  97803 of 312159

1. A collection agency cannot change an entry created by the original creditor. Whoever placed the negative info into teh record is the only one that has any power over it. If the collection agency entered their own negative info they have power over that entry.

2. Once you figure out who has power over the negative info you have to negotiate with them to remove it. Do this negotiating before you send them any money. Once you have paid them you have no bargaining power with which to negotiate. If you get them to agree, make sure they put it in writing before you pay them. Make sure they send you a written agreement that is very specific. It describe the amount you have to pay, and exactly what they will remove or report differently once they recieve your payment.


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