Is it really possible to get collection agency to take a charge offs of there credit report?
It is legal in most states for an initial creditor to sell the debt to a 3rd party (Not the same as hiring a collection agency). They generally don’t provide this 3rd party with any notes, details or account info. This gives you little if any chance of disputing the balance. They like it that way. You may be able to get some details from the original creditor, but they won’t be able to reverse the sale. The 3rd party says you owe it, you say you don’t. They will probably pressure and threaten, but generally they have no real power to do anything. They usually buy the debt for pennies on the dollar knowing that it’s highly unlikely that they will be able to collect on it. They can call you and send letters, but that’s about it. They bark loud because they have no bite. If they could sue you for the balance they would. They wouldn’t be calling to argue about a long forgotten debt. If there were any grounds for a law suite those grounds would probably have been taken by the original credi
