A relative of mine dropped a contract with sprint, he just didn't like it to pay the termination fee of $700 (few lines).
Now a few month later he gets calls from collection agencies, but he don't care.
But now it appears on his report, and I, personally, have a monetary loss as a result....
How do I deal with that?
I give 1,000 MR points for the one who leads me to the strategy that will work!
If it's with a third party (not BOA) then start the dispute process with the 3rd party. It usually takes a couple weeks but it gets removed, or once dispute process is initiated, dispute directly with CB, it should come off. Once off CB, just call them back and pay. Most third party collection agencies don't report as "paid", they just stop reporting and you can request a letter stating its paid (or settled), which you in turn send to CB and they update it. But in your case it won't be relevant since its already removed....
PS. I don't think this is ethical, but it is a strategy that has worked, while still paying everything that was owed (not causing monetary loss).
Thanks! did something similair, (I paid the original creditor - Sprint, not the collection) per advice on CB, and lo and behold!, checked EX and I didnt see the collection!
And more, that person was instantly approved for a Amex 4BM 2 nights ago!
I just checked Citi ID monitor, and NO COLLECTIONS!
