debt validation

[mr_chin]

I contacted a collection agency that was given to me by my original creditor (RBC) and worked out payment plan with them. I asked for a letter stating what I have to pay and stuff.

Now, should I still send a validation letter even though I am the one that took the approach in calling them? Should I send them a PFD letter as well to try to get them to delete any negative negotiations off my credit report? Or do I have to get an agreement first with the agency over the phone before sending a PFD letter?

[wouwou]

if the debt has been passed on to collection by RBC, chances are you already have a big black dot on your credit report and I dont think it will be "deleted"

[PNF]

Originally Posted by wouwou

if the debt has been passed on to collection by RBC, chances are you already have a big black dot on your credit report and I dont think it will be "deleted"

You need time for the credit rating to return to where it was before. You need at least 3-5 years, depending on how well you build up your credit later.

If you buy a house, on a mortgage, have business loans right now and make all payments promptly over the next 3 years, I'd say you'll be back to good credit pretty soon, in the 650-700 at least.

Its all about time and how promptly you make your payments, big or small.