For all you Credit Gurus...Help me with this Lawyer Settlement..?

Recently i have been working with a law firm (Linebarger Goggan Blair & Sampson, LLP) pretty popular from what i can see...About an old debt of 3900 dollars...Now..I have the money to pay this, but i don't want to drop a huge sum of money and have it do nothing for my credit score. The question is...Compass Bank/Harvest Mgmt. hired this firm to collect the money, etc. etc. I am not willing to drop this much money unless i can get a "pay for deletion" to whipe the tradeline off my credit... Question is, do i goto the law firm (collection agency) or the original creditor (compass) to push for a deletion? I know some of you have ran into this before, so lets good some good answers and i'll return the favor. I didn't hire the law firm, compass bank hired them, forgot to mention. To clear up some confusion... Compass Bank Hired the law firm that i named above to collect the debt. Do i goto the law firm or to compass to request a pay in full for deletion?

Public Comments

1. Even when you request for a pay for deletion you don't offer full amount 50% max. How long has the account been charged off? If it's past the statue of limitations you should settle for approximently 20% for a pay for delition. Statue of limitation is 3 - 5 years from the carge off date (approximently 180 days from the last payment) Why did you hier a law firm? Thats a wast of money unless your a corporation of some sort. ---------------------------------------------------------------------------- You don't go you send a letter. http://www.creditliberty.com/credit-repair/pay-for-deletion-letter.html This is a sample letter that should help you to send them. don't offer more than 50% of the debt and be prepard for them to try to negotiate with you so low ball them.
2. First of all, never pay lawyers to deal with credit issues. Most of them cannot balance their own check book. Second, if you seek information about credit issues, you should never ever have to pay a single penny for good advise. There are consumer credit and debt councling service agencies that will do everything for free and also have the clout and contacts that can get things working in ways that a single lawyer or law firm can only dream of. They are free. Never pay a dime to anyone to help you address credit issues unless the IRS is after you and you have done something illegal. Lawyers will churn you for all they can get out of you. I would also call both the creditor and collection agency ASAP and ask them about how they typically handle what they do. Do not delay in calling them back. In many cases , the sooner you call, the easier it is to get them to help you.