There is a member by the name of Richard C that owns a debt settlement business in Ontario. Here is his link to his website listed below.

www.TotalDebtFreedom.ca

I am interested in Debt Settlement too, pay off less than I owe as these accounts are 3-4 years old.

I need someone who can handle the paperwork, can someone suggest please

I have already posted my scenario in a different thread

ACCOUNT 1 ( EQUIFAX )
High Credit/Credit Limit: $1,130.00
Payment Amount: $10.00
Association to Account: Individual account
BalanceAmount: $1,130.00
Type of Account: Revolving
Past Due: Not Available
Date Opened: 2000-03
Date of Last Activity: 2006-01
Date Reported: 2009-01
Status: Bad debt, collection account or unable to locate
Payment History: No payment 30 days late
No payment 60 days late
No payment 90 days late
Prior Paying History: At least 120 days past due ( 2006-08 )
At least 120 days past due ( 2006-07 )
Three or more payments past due ( 2006-06 )
Comments: Written-off
Closed by credit grantor
( CALLED THIS CREDITOR AND ITS GONE TO THEIR COLLECTION DEPARTMENT, NOT AN OUTSIDE AGENCY )
==================================================

ACCOUNT # 2 ( EQUIFAX )
High Credit/Credit Limit: $1,314.00
Payment Amount: $10.00
BalanceAmount: $1,314.00
Type of Account: Revolving
Past Due: $166.00
Date Opened: 2000-08
Date of Last Activity: 2005-09
Date Reported: 2008-04
Status: Bad debt, collection account or unable to locate
Payment History: No payment 30 days late
No payment 60 days late
No payment 90 days late
Prior Paying History: At least 120 days past due ( 2006-04 )
At least 120 days past due ( 2006-03 )
At least 120 days past due ( 2006-02 )
Comments: Written-off
Monthly payments

ACCOUNT # 3 ( EQUIFAX AND TRANSUNION )
High Credit/Credit Limit: Not Available
Payment Amount: Not Available
Association to Account: Individual account
BalanceAmount: $1,724.00
Type of Account: Revolving
Past Due: Not Available
Date Opened: 2002-05
Date of Last Activity: 2007-09
Months Reviewed:
Date Reported: 2007-11
Status: Bad debt, collection account or unable to locate
Payment History: No payment 30 days late
No payment 60 days late
No payment 90 days late
Prior Paying History:
Comments: Update freeze requested by credit grantor
Monthly payments

ACCOUNT # 4 ( EQUIFAX )
High Credit/Credit Limit:$1,000.00
Payment Amount: Not Available
Association to Account: Individual account
BalanceAmount: $1,095.00
Type of Account: Revolving
Past Due: $1,095.00
Date Opened: 2002-05 Date of Last Activity: 2005-10
Months Reviewed: Date Reported: 2006-06
Status: Bad debt, collection account or unable to locate
Payment History: No payment 30 days late
No payment 60 days late
No payment 90 days late
Prior Paying History: At least 120 days past due ( 2006-04 )
At least 120 days past due ( 2006-03 )
Three or more payments past due ( 2006-02 )
Comments: Written-off
Closed by credit grantor

( Account 3 and 4 are from the same bank - Now this credit report is from Equifax and Transunion also has account from same bank but with a 3rd Account Number. As far as I know I only had 2 Personal Credit Cards and 3rd one was Business Debit Card ) The Transunion one shows

Account # 5
Condition: Open
Balance: $1431
Type: Revolving account
Pay status: Paid as Agreed
Payment: $42 Monthly (due every month)
Opened: 05/01/2002
Reported: 12/29/2004
Responsibility: Individual account

Past Due:
Remarks:Amt In High Credit Column (Disp 122-130 of Trade Segment) Is Credit Limit
High Balance: $1500
Terms:
Limit:
Last Activity: 12/29/2004
Late Payments (last 6 years):
1
1
0

So Basically to ACCOUNT 3, 4, and 5 I know I have 2 credit cards with 1,095 and 1,724 and 6000 of the overdraft of my business account. But according to transunion I have a 3rd Card? which I am not sure is there as I remember losing a card and they sent a new one or is it anything to do with my 6000 overdraft?. I called the bank yesterday and they said I had 2 accounts ( which ones, I assume they are the credit cards, I don't know I have to find out as their work hours are same as mine
=========================================
ACCOUNT # 6 ( EQUIFAX AND TRANSUNION)
High Credit/Credit Limit: $0.00
Payment Amount: Not Available
Association to Account: Individual account B
alanceAmount: $0.00
Type of Account: Revolving
Past Due: $0.00
Date Opened: 2001-08
Date of Last Activity: 2006-10
Months Reviewed: 01
Date Reported: 2006-11
Status: Paid as agreed and up to date
Payment History: No payment 30 days late
No payment 60 days late
No payment 90 days late
Prior Paying History:
Comments: Amount in h/c column is credit limit
Closed by credit grantor

TRANSUNION SAYS
Condition: Closed
Balance:
Type: Revolving account
Pay status: Paid as Agreed
Payment: $0 Monthly (due every month)
Opened: 08/01/2001
Reported: 11/18/2006
Responsibility: Individual account

Past Due:
Remarks:Cancelled Account/Non-Derog Rating
High Balance:
Terms:
Limit: $882
Last Activity: 11/18/2006

Late Payments (last 6 years):
1
1
14

( Shopping Centre Card - I called them and they said it was Charged off and to call a different #, so what does above comments mean? )

===========================================================
ACCOUNT # 7
High Credit/Credit Limit: Not Available
Payment Amount: Not Available
Association to Account: Individual account
BalanceAmount: $0.00
Type of Account: Revolving
Past Due: Not Available
Date Opened: 2001-08
Date of Last Activity: 2005-04
Months Reviewed: 41
Date Reported: 2005-06
Status: Paid as agreed and up to date
Payment History: 03 payments 30 days late
03 payments 60 days late
No payment 90 days late
Prior Paying History: Two payments past due ( 2005-02 )
Two payments past due ( 2005-01 )
Two payments past due ( 2004-08 )
Comments: Transferred or sold

( Old RadioShack Card, as far as I know I dont owe them, I also called them and they said its such a old account and they don't even deal with it anymore and see its $0 Balance and the comment transferred or sold is normal ? how does that comment affect me )

=========================================

COLLECTIONS

ACCOUNT # 8 ( EQUIFAX AND TRANSUNION )
Date Assigned: 2008-06
Account Number:
Collection Agency: Reason:
Amount: $593.00
BalanceAmount: $593.00
Date of Last Payment: 2005-09 Date Paid:
Date Verified:
Comments:

( I called them and they said to send the money and they will update as aid which should reflect in Transunion )

My Questions
1) This is one of the biggest concerns, if the $6000 overdraft money is not showing up? what could be the reason and its with the same bank as Account 3, 4 and supposedly 5?
Back in 2005, I had collection calls for that amount and after some time, they agreed $50 which I paid for about 10 months and after that nothing. So how does a bank not put that in the credit report, the overdraft facility was given on my business name? is a business credit report different. So even I pay up everyone listed here, and they update the info on my credit? can the 6,000 suddenly appear on the credit report after so many years

2) My driver license fine of 3,125 also doesn't show anywhere. I have the ticket and notice with me and it says if fine wasn't paid, then it maybe reported to a credit bureau, now maybe is simply maybe but doesnt make any mention of collections so is that gone to? I don't have to worry about it

3) My Credit score in 2008 June was 597, in March 2009 it went down to 538. Now, Account # 8 wasn't in collections in 2008, so going into the collections column of both the credit bureaus change it significantly?
Also, even if I pay everything reported on my credit report, I have heard that since all accounts are updated to paid the score goes further down and seeing the comments how long do you think it will take to fix my credit and get a mortgage loan as that the main reason I am doing this. if its going to take 2-3 years just to get a card and fix it, I will have to make a different decision

4) Can the 6,000 and Fine suddenly start disturbing if the Credit Bureau has my updated address ( that is if I take the path of building credit ) as so far they have no mention

5) If I make the $593 payment to ACCOUNT # 8, how should I do it? bank Draft, personal cheque - my concern was to have some sort of proof

6) It takes 6 years for the items to drop from the report? when does that start exactly ? in my case how long will these take to clear of, if i don't decide to pay ( its the circumstance, not a wish )

I spoke with them on the phone, and he told me to write it on the money order so I did sent them the $2000. They left me alone so i thought it was cleared up & now their caling me all over again.

Also as I read these posts I think I should have got them to put it in writing as well instead I think I am just screwed.

Peedie76,

Can you explain how you outlined this and did you receive a proper settlement offer in writing?

"I made a settlement 2 years ago with Excel Collections and I had outlined the payment that it was paid in full when they cashed the money order that the debt was settled."

I can understand ur situation because now a days these types of situation is going to be increased. Now the important thing is that if u do the settlement then just take the signed letters from the creditors and i also want that u do the maximum settlement . Ok all the best and i wish all ur problems will be solved soon.

I am currently awaiting my credit report through all 3 credit bureaus. Have been thinking about debt settlement as I am sure that my report isn't going to be a golden one but am afraid that I will lose my home if I go this route.

We as many others have just lost our jobs. I manage to keep my mortgage up but I have creditiors calling me up and asking for payments that I cannot afford to pay. I made a settlement 2 years ago with Excel Collections and I had outlined the payment that it was paid in full when they cashed the money order that the debt was settled. But now they are saying they didn't agree to our agreement and are after me for the rest of the money. I am unsure on what route to take. Can someone give me some advice?

Whatever you do; the most important thing is to make sure you have a clear offer in writing from them outlining the terms of the settlement. And remember, make sure you pay it on time and keep a receipt for your own records.

Good luck!

Have not offered them anything yet....lawyer will do it today.....they are quite a pain in the buttt......language is realy interesting..

I would of started with 10, but 20 isn't a bad. If they know you work they might not want to settle for a low amount. If they don't know you work then you might get away with it.

The account is 3 years old. Yes, presently employed. It is with Allied collections. Things wgot bad for a bit. Sold my home and want to clear up my credit...just don't have alot to spare is all.. I was told to offer them 20 cents on the dollar....