You should have learned at least the following thing from parts 1 and 2. Although creditors have the right to negotiate deleting collection accounts from your credit files, since there is no law on the books to say  they can’t negotiate deletions when money is paid, there may be many variables that they will consider. This is where a collection firm comes in. Let’s go over some of them.

• How much a person owes on an account. If a person owes a large amount such as $3000, a creditor might be willing to delete the account if they get a call from a collection firm that desperately wants that $3000.
• The collection firm may be behind in their collection goals for the client.
• If the Statue of Limitations for credit reporting is about to expire, a creditor and a collection firm that really wants that $3000 may only have a window of one or two months. In most cases the debtor does not know this.
• The Statute of Limitations as to when a creditor can sue a person is about to run out. If a person gets a call from a collection firm and he/she is in this situation, the collection firm may take a lot less money because time is running out for them to sue.

You have probably heard the old expression that there are two things that are not negotiable. Those two things are death and taxes. Taxes are now negotiable. Collection debt can be negotiated also. Next time we are going to talk about the credit bureaus role in deleting accounts. This is Charles your trusted voice in helping you fix your collection and credit problems signing out for now.