http://resources.lawinfo.com/en/Legal-FAQs/Collections-Creditors-Rights/Utah/index.html LawInfo - Legal Resource Center offers free Utah Collections-Creditors Rights legal forms and free Utah Collections-Creditors Rights legal documents that is designed to help consumers and businesses resolve their legal issues http://resources.lawinfo.com/en/Legal-FAQs/Collections-Creditors-Rights/Utah/can-unsecured-debts-be-settled.html An unsecured debt is a debt where there is no collateral. Unsecured debts include medical bills, credit cards, department store cards, personal loans, collection accounts, student loans, amounts remaining after foreclosure or repossession, and bounced checks. There are a few creditors who will never compromise, but most will take a less­than­full payment as settlement­in­full to close a troublesome account. (Utility companies, however, rarely settle for less than the full balance.) Utah Collections-Creditors Rights FAQs Tue, 29 May 2007 21:19:00 GMT http://resources.lawinfo.com/en/Legal-FAQs/Collections-Creditors-Rights/Utah/do-creditors-have-an-agreement-with-the-credi.html Yes this is true, the creditor can just tell the credit bureau that they reported your rating inaccurately, not that it was due to settlement. Anything a creditor reports, a creditor can change. If this wasn't the case, creditors couldn't change erroneous information they may have placed on the debtors account by mistake, and find themselves in trouble with the FTC. In most credit organizations, there are dozens of people with the authority to make changes on the credit report. Larger creditors, such as huge credit cards or banks will require more pressure before they will agree to delete a negative listing, but virtually every creditor will acquiesce with the right amount of persuasion. Utah Collections-Creditors Rights FAQs Tue, 29 May 2007 21:19:00 GMT http://resources.lawinfo.com/en/Legal-FAQs/Collections-Creditors-Rights/Utah/do-creditors-make-their-profits-from-collecti.html Because creditors recognize this "catch­22" situation, they will often agree to delete any negative listing upon settlement of the debt. You have to realize that creditors won't try to ruin the debtor's credit rating as a personal vendetta. It's strictly business. If it pays them to collect from debtors and restore their rating to perfect, they will do this. Utah Collections-Creditors Rights FAQs Tue, 29 May 2007 21:19:00 GMT http://resources.lawinfo.com/en/Legal-FAQs/Collections-Creditors-Rights/Utah/what-if-the-debtor-wants-to-settle.html The creditor must have a good reason to want to settle. If the account is paid current and there is no recent history of late payment, it will be difficult to convince the creditor that it is in their best interest to settle. (This should not be read as a recommendation to stop paying bills that are current. If the debtor stops paying their current bills, they will almost certainly make their credit situation worse.) Utah Collections-Creditors Rights FAQs Tue, 29 May 2007 21:19:00 GMT http://resources.lawinfo.com/en/Legal-FAQs/Collections-Creditors-Rights/Utah/what-is-secured-collateralized-debt.html They are a home or automobile and are an entirely different story. If the creditor can simply repossess the property, why should he negotiate? The debtor can often renegotiate a short payment relief with a secured debt but won't attempt to settle the account while the debtors still possess the property. Utah Collections-Creditors Rights FAQs Tue, 29 May 2007 21:19:00 GMT http://resources.lawinfo.com/en/Legal-FAQs/Chex-Systems/Utah/index.html Free Chex Systems FAQs Collections-Creditors Rights Sub-categories Fri, 27 Nov 2009 12:47:08 GMT http://resources.lawinfo.com/en/Legal-FAQs/Collections/Utah/index.html Free Collections FAQs Collections-Creditors Rights Sub-categories Fri, 27 Nov 2009 12:47:08 GMT http://resources.lawinfo.com/en/Legal-FAQs/Creditor-Remedies-in-Bankruptcy/Utah/index.html Free Creditor Remedies in Bankruptcy FAQs Collections-Creditors Rights Sub-categories Fri, 27 Nov 2009 12:47:08 GMT http://resources.lawinfo.com/en/Legal-FAQs/Debt-Collections/Utah/index.html Free Debt Collections FAQs Collections-Creditors Rights Sub-categories Fri, 27 Nov 2009 12:47:08 GMT http://resources.lawinfo.com/en/Legal-FAQs/Enforcement-of-Judgments/Utah/index.html Free Enforcement of Judgments FAQs Collections-Creditors Rights Sub-categories Fri, 27 Nov 2009 12:47:08 GMT http://resources.lawinfo.com/en/Legal-FAQs/Fair-Credit-Reporting-Act/Utah/index.html Free Fair Credit Reporting Act FAQs Collections-Creditors Rights Sub-categories Fri, 27 Nov 2009 12:47:08 GMT http://resources.lawinfo.com/en/Legal-FAQs/Fair-Debt-Collection-Practices-Act/Utah/index.html Free Fair Debt Collection Practices Act FAQs Collections-Creditors Rights Sub-categories Fri, 27 Nov 2009 12:47:08 GMT http://resources.lawinfo.com/en/Legal-FAQs/Identity-Theft-Fraud/Utah/index.html Free Identity Theft FAQs Collections-Creditors Rights Sub-categories Fri, 27 Nov 2009 12:47:08 GMT http://resources.lawinfo.com/en/Legal-FAQs/Judicial-Remedies/Utah/index.html Free Judicial Remedies FAQs Collections-Creditors Rights Sub-categories Fri, 27 Nov 2009 12:47:08 GMT http://resources.lawinfo.com/en/Legal-FAQs/Mortgage-Foreclosure/Utah/index.html Free Mortgage Foreclosure FAQs Collections-Creditors Rights Sub-categories Fri, 27 Nov 2009 12:47:08 GMT http://resources.lawinfo.com/en/Legal-FAQs/Non-Judicial-Remedies/Utah/index.html Free Non-Judicial Remedies FAQs Collections-Creditors Rights Sub-categories Fri, 27 Nov 2009 12:47:08 GMT http://resources.lawinfo.com/en/Legal-FAQs/Secured-Transactions/Utah/index.html Free Secured Transactions FAQs Collections-Creditors Rights Sub-categories Fri, 27 Nov 2009 12:47:08 GMT http://resources.lawinfo.com/en/Legal-FAQs/Types-of-Creditors/Utah/index.html Free Types of Creditors FAQs Collections-Creditors Rights Sub-categories Fri, 27 Nov 2009 12:47:08 GMT