Collection Question
I an old acct that was pretty much charged off. I went back to the creditor and let them know you would like to try and take care of it to show a zero balance on the report. They tell you that it was transferred/sold to a collector. I had never heard from the collector, as I had moved and they did not have my new address.
I contact the collector and reach a settlement. I get a settlement letter before paying, then I pay, then I receive a paid in full letter. I then dispute the account to show that it should be showing as paid. Note: the collector and the creditor were both showing on my account. After the dispute, the collector is not on my report (good news) at all. 6 months later, after reviewing my report, it shows that the original creditor is showing a balance owed (the original balance) to 2 reporting agencies. My question is this...I know I can dispute to show it was paid and that there should be no balance...but since the creditor sold/transferred the account to the collector, there should be no report of the orginal creditor on there at all, right? Especially not showing a balance, when the damn thing has been paid. Any advice is greatly appreciated, I am pretty credit saavy, and have been working extremely hard to get my credit where it needs to be.
Thanks in advance.[ Edited by suntzu18 on Date 02/17/2004 ]
The OC's CO should show a zero balance, but you want the account off there entirely. Depending on who that OC is, you might be able to do it with a simple "not mine" dispute, or you might need to write a "nutcase" letter to them, or it may simply stick like glue (Capital 1, for instance). www.creditboards.com is a good place to read up on this.
DISPUTE with your supporting documentation. Do not be lazy, but make sure the item(s) are reported correctly.
Eric & Rosa
[addsig]
Something else I don't know if people realize but a credit collector told me and I got some deleted off of my report because of this is that if your account has been bought by another company you can have it removed so it is not on there twice. Now it will still be on there because of the company that bought it reports it more than likely but at least it won't be on there twice and really make your score go down.
kellyntx
Quote:
On 2004-02-22 23:24, kellyntx wrote:
Something else I don't know if people realize but a credit collector told me and I got some deleted off of my report because of this is that if your account has been bought by another company you can have it removed so it is not on there twice. Now it will still be on there because of the company that bought it reports it more than likely but at least it won't be on there twice and really make your score go down.
kellyntx
The OC is allowed to report it (with a zero balance) and one CA can report it (the CA currenlty collecting on it, or the CA that did collect). Erstwhile CAs must be removed.