Bad Credit Agency

I would like your opinion on credit repair I hear alot of diffrent stories?

I have heard I can write some letters to the companies and credit companies but a friend of mine told me to only start with 2 at a time because I didnt want to stir up a hornets nest. What do I do if the first 2 companies I contact do not respond or contact me back with my offer my payment for a delet of payment agreement? How much time should I give them before I move on to then next one without stiring up a hornets nest? For example I contacted a collections company for an apartment I had in 04 and they said they would do a pay for delete agreement so I can have this debt removed from my credit but I have yet to get a letter in the mail or through fax they asked me for my fax number and said I had till 02/15/07 and the lady never emailed me back again. Should I wait for the letter even though they gave me till the 15th because I heard I should not pay unless I get that document first to get it removed from my credit report please help! Advise only I dont need smart remarks.

Public Comments

1. Don't pay until you have an agreement in writing! then you keep your receipt [canceled check, money order, whatever] and the agreement FOREVER because over 25% of these come back after a payoff. I'd reccomend checking out Dave Ramsey's "Total Money Makeover" from your local library, and/or checking out his website for good info on keeping collectors in line.
2. Not sure what you mean about this "stirring up a hornets nest" stuff....just how many debts are you trying to fix? 1) DO NOT send them a dime without a written letter outlining exactly the terms you negotiated. That includes payment plan, pay/delete agreement, statement that the debt is "paid in full", and not settled. There are many cases where you think you settled the whole debt, just to find the balance was sold to another collection agency. Send them a letter outlining your proposal....DO NOT call them or Email your negotiations. GET IT IN WRITING. And give them a deadline to respond. You should also be requesting that they validate the debt.