Collection agency does not agree to settlement offer?

I received a settlement offer(for 40% less than original debt) from a collection agency for a debt that is about 5 yrs old. I have ignored all the other offers and letters from this agency, I have never spoken to them. I have decided to repair my credit, so I wrote them a letter saying I agreed to pay the monies owed IF they wrote on my credit report that I have %26quot;PAID AS AGREED%26quot;

They responded with that they will write %26quot;Settled in full%26quot; This does nothing for me. Having those words on my report, such as %26quot;settled%26quot; have negative connotations. This does not help me. What should my next step be? I want to pay the debt, (and actually don%26#039;t even mind paying it in full) if they will at least write PAID, on my credit report. Should I stop correspondence with the agency, and try my original method with the original creditor? I%26#039;d like to pay as soon as possible, but %26quot;settled in full%26quot; is not acceptable. Any ideas? Thanks

Collection agency does not agree to settlement offer?

Don%26#039;t bother getting an outside agency to help.

Pay it off and accept the %26quot;settled in full%26quot;. At least you saved a chunk of money.

After that is done, it%26#039;s time to begin your campaign to remove the account from your credit report entirely. Almost every account listing on your credit report has a valid error you can use to dispute the account. Hopefully, eventually the collection agency will not bother to respond to a dispute on a paid account. If they don%26#039;t respond, the credit bureau must remove the account permanently.

Collection agency does not agree to settlement offer?

they will not report the account as paid as agreed because you have little bargaining power against them. think about it logically they are giving you the oppurtunity to reduce the amount that you owe them and avoid going to court.

if your don%26#039;t pay them the settlement amount they will sue you and then you will owe the full balance to them and that judgement cannot be negotiated.

if you were to enroll and qualify for a debt settlment program with http://www.fdnsolutions.com then the debt settlement company can try to have the paid as agreed listed for you because they wlll have a larger amount of money held over the creditors head in trust accounts that cannot be garnished or have judgements placed against.

also the original creditor already sold your account to the collection agency so they have already made their money and they by law do not have to entertain any offers made by you. If you do extend them an offer it might trigger the lawsuit by the collection agency.