Hi average_joe, thanks for the reply. I`ve considered that, but I don`t want to wait a year and a half to start rebuilding my credit because of this one collection item on my report nor do I want to wait for the backlog to clear from the Privacy Commissioner`s office.
I was looking at this web link of bankruptcy canada that says you can....part 4....... what do you think?
Kind of like "pay for delete" like they have in the US if part of the settlement....in writing of course.
Is that feasible here?
Are there credit reporting laws against the removal of an item if settled?
If I get a written letter for settlement saying they will remove it and they don`t, can I take it to the bureau for removal?
Can I sue? It`s a contract isn`t it?
http://www.bankruptcy-canada.ca/credit-repair/creditReport.htm
(< 4. Get negative notes off your credit report
If you really owe money, you must pay off the debt before it will be removed from your credit report. In the case of an old, small debt, this can be easy and well worth the effort.
For example, if a creditor filed a negative report that you owe $15, repay the creditor and ask the creditor to remove the negative credit report from your credit record.>)
I`m just concerned about restarting the date of last activity if they use that settlement offer against me. I even spoke with Mark Silverthorn to see if it could be done through a lawyer, and he has not heard of that happening. Said highly unlikely.
Here is an example of a pay for delete letter on-line. I know there some things that can`t be used in Canada (debt validation for instance);
Collector’s City, State Zip
Date:
Re: Account Number XXXX-XXXX-XXXX-XXXX
Dear Collection Manager:
This letter is in response to your [letter / call / credit report entry] on [date] related to the debt listed above. I wish to save us both some time and effort by settling this debt.
Please be aware that this is not an acknowledgment or acceptance of the debt, as I have not received any verification of the debt. Nor is this a promise to pay and is not a payment agreement unless you provide a response as detailed below.
I am aware that your company has the ability to report this debt to the credit bureaus as you deem necessary. Furthermore, you have the ability to change the listing since you are the information furnisher.
I am willing to pay [this debt in full / $XXX as settlement for this debt] in return for your agreement to remove all information regarding this debt from the credit reporting agencies within ten calendar days of payment. If you agree to the terms, I will send certified payment in the amount of $XXX payable to [Collection Agency] in exchange to have all information related to this debt removed from all of my credit files.
If you accept this offer, you also agree not to discuss the offer with any third-party, excluding the original creditor. If you accept the offer, please prepare a letter on your company letterhead agreeing to the terms. This letter should be signed by an authorized agent of [Collection Agency]. The letter will be treated as a contract and subject to the laws of my state.
As granted by the Fair Debt Collection Practices Act, I have the right to dispute this alleged debt. If I do not receive your postmarked response within 15 days, I will withdraw the offer and request full verification of this debt.
Please forward your agreement to the address listed above.
Sincerely,