How to get collection fixed on credit report?

Submitted by Jbboutwell on Mon, 09/15/2008 - 14:38
Forums

Hi. I just got a copy of my husbands credit report and found out he has a collection on his account that was settled back in 2004. Unfortunataly he didnt think to make sure he got everything in writting and we have no proof it was supose to be settled for 3800. They still have it on the credit report as unpaid for the full amount. What can I do? All i have is bank statements saying 3,800 was paid to them.

Hi Jbboutwell
Can you tell what was the actual debt amount? Since you have already paid back the debt in 2004, it should be listed as "paid" in your credit report and the bank statement will act as the proof that you have paid them back. However, you should send them a debt validation letter asking them to validate the debt. Since you have already paid back the debt, I don't think that they will be able to validate it. Now if they do not validate it within 30 days from the date of receipt of your letter, send dispute letters to the bureaus asking them to remove the listing.

Tue, 09/16/2008 - 09:35 Permalink
Jbbouwell@hotm… (not verified)

Im sorry, that is a pretty critical part of the stituation huh? Smile The original debt is listed as $6413, they called him and got him to agree to settling for $3800. He paid by electronic check. This is still being listed on his current credit report as unpaid with a balance of $6413!!

Fri, 09/19/2008 - 09:44 Permalink

Hi Jbbouwell
Whenever you are repaying back a debt, always make sure that you get the settlement letter in writing before you pay it off. This is because, there are instances where the creditor or the collection agencies agree to pay for deletion agreement verbally, but did not remove the listing from the report after the debt is paid in full. Now as in your case, the CA should has listed the debt as "paid" in your report, but he has not and so you can send a letter to the collection agency asking him to mark the debt as "paid as agreed" in your report.

Fri, 09/19/2008 - 10:12 Permalink

I always thought you got the settlement letter afterwards. Thanks for clarifying that one.

Sun, 09/21/2008 - 01:01 Permalink
Amanda (not verified)

I have a collection agency on my credit report, that I paid off. How can I get it off my credit report and stop it from hurting my score?

Tue, 01/20/2009 - 17:24 Permalink

Hi Amanda
Even if you have paid off a debt to the collection agency, it will stay in your credit report for seven years and six months from the date of delinquency and lower your credit score. The negative listing would have been removed by the collection agency only if you had made the CA agree to pay for deletion agreement before you had paid off the debt in full.

Wed, 01/21/2009 - 11:55 Permalink