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HomeCredit ForumCredit repair

debt paid in full sample letter

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chelsia831



Joined: 29 Aug 2008
chelsia831's page
Posts: 2



38 Magic Points
Subject: debt paid in full sample letter
 
 Posted on Fri Aug 29, 2008 5:47 pm  
does anyone have a sample letter from the collection agency stating a debt paid in full or zero balance owed
 
Justin

Justin

Joined: 17 Jul 2006
Justin's page
Posts: 530



13560 Magic Points
 
 Posted on Sat Aug 30, 2008 8:38 am  
Hi Chelsia
Whenever you pay off your debt to the collection agency, the collection agency reports it to the credit bureaus who in turn lists the debt as "paid" in your credit report. The collection agencies generally do not send you any letter confirming that you have paid the debt in full. All you need to do is to order a credit report to find out whether your payment has been updated or not. If it has been updated in your report as "paid", it would mean that they have informed the bureaus that you have repaid it.
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Best Wishes
Justin
 
Mary

Mary

Joined: 06 Jul 2006
Mary's page
Posts: 420



10865 Magic Points
 
 Posted on Sat Aug 30, 2008 9:03 am  
Yes, Justin is right. The collection agency reports it to the bureaus and the bureaus update the listing in your report as "paid" as soon as you pay off the debt. However, sometimes it happens that you make the collection agency agree for pay for deletion agreement where the CA need to remove the listing from the credit report but you may find the listing as "paid". In such cases you need to send a dispute letter to the bureaus telling them that you do not agree with the listing. However, for this, you may need to produce proof that the CA agreed for PFD. So whenever you are negotiating for PFD with the CA, you should make all correspondence in writing
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Where there's a will, there's a way !!
 
CMBV22

CMBV22

Joined: 08 May 2008
CMBV22's page
Posts: 376



4057 Magic Points
 
 Posted on Tue Sep 02, 2008 3:47 am  
FYI, the CRA contact the CA that are on your CR. If you make up a fake letter and send it to the CRAs they will find out that it is fake and you now have commited fraud.
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fireyone



Joined: 26 Feb 2008
fireyone's page
Posts: 3236



1048 Magic Points
 
 Posted on Wed Sep 03, 2008 1:23 am  
Oh my if this is in deed what you are thinking don't go there.
 
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