Responded to Collection Settlement with Stipulations and haven’t heard back

by Julie
(Cheyenne)

In May of 2011 I received a settlement letter from a collection agency. The collection agencies "Acceptance period expiration date" was June 10, 2011.

My response to the letter was that I would agree to pay the settlement ONLY IF the dept was pulled from my credit report and my transcripts were released. I sent this letter on Wednesday May 25, 2011. When I called the following week, they had received my letter but sent it back to the creditor. Which happens everytime I respond to the collection agencies as they agree with my evidence and don't want to deal with my case.

How long does the creditor have to respond? If they do not respond in a certain amount of time can this be removed from my credit report and debt be "dissolved"?

Thanks for the help!

Reply from DebtCollectionAnswers.com:

Collectors or creditors are not obliged to agree to the arrangement you propose. You can ask, but they don't have to accept. (Nor are the required to respond to your offer to settle in a specific period of time.)

Maybe you are confusing this with the fact that they must investigate a properly filed dispute over incorrect or incomplete information on your credit report? If you file the dispute and they don't confirm it within 30 days it will drop off your credit reports. But that doesn't relieve you from responsibility for the debt.