Negotiating with a collection agency

July 21st, 2006 by Questions

Do i have the ability to negotiate with a Collection agency on the wording of how a settlement will appear on my credit report? I would like to have the wording appear as \”paid in full\” regardless of whether the settlement is less then the full value. Is this something that the credit agencies allow in Canada?


One Response to “Negotiating with a collection agency”

July 21, 2006 at 4:16 pm, Barton Goth, GCO Inc. Bankruptcy Trustees said:

It is not the collection agency that you would negotiate it, as it is the creditor you negotiated the settlement with. They are the ones who report to the credit bureau so you would have to make that a term in you negotiation. When doing so, make sure to get your creditor to sign off on it, if you don’t there is very little likelihood they will be willing to do this.

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