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Posted over 4 years ago.

The collection agency reported the accounts. I had a debt validation letter sent to me yesterday but will not receive it until 14 Jan at the earliest. The CA and I made a verbal agreement over the phone (I believe it was recorded) that if I paid he full amount of debts owed, no matter how long it takes, that the CA would remove th accounts from all 3 credit bureaus. Is this verbal agreement a legal binding in case the CA does not remove the accounts from my credit report(s)?

Richard Scott Lysle
Richard Scott Lysle, Debt Collection Attorney - Marina Del Rey, CA
Posted over 4 years ago.

Under some circumstances a promise to pay may start the Statute of Limitations (for litigation purposes) and the reporting period to start anew.
It is much better to have a settlement agreement in the form of a signed writing rather than a recorded telephone call. In California it is a crime to record a telephone call without the knowledge and consent of the other party. Did you record the conversation? Also, if you have a future problem with the credit reporting, a copy of a signed agreement can be sent to the credit reporting agency. A tape recording is not likely to be of use in such a circumstance.