Agreement not being report correctly

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Subject: Agreement not being report correctly

Tue Jun 02, 2009 2:01 pm

I have a letter from the Creditor's third party counsel stating that they agreed to change my account status to reflect a closed (paid) with a current pay status, however on my credit report the file shows pay staus as collection/chargeoff instead of current.

What steps should I do to have this corrected? Thank you.

rachael

Joined: 11 May 2009
rachael's page
Posts: 234

6581 Magic Points

Wed Jun 03, 2009 4:09 am

Hi Guest,

I would suggest that you dispute the issue directly with the credit bureaus. You will find a sample Dispute Letter in the Letters of Credit section. You must enclose a copy of your credit report and a copy of the agreement letter from the creditor's third party counsel. Encircle the item on the credit report that you are disputing. Send your Dispute letter through certified mail, with a return receipt requested.

The credit bureau should investigate and remove the negative listing within 15 days, after receiving your Dispute Letter. You are also entitled to get a free copy of your credit report after it is corrected and updated.
_________________
Looking forward to a debt-free life.

cbass1017

Joined: 01 Feb 2008
cbass1017's page
Posts: 143
Location: PA

1528 Magic Points

Thu Jun 04, 2009 1:45 am

Hello Guest,

I can't help but to notice that you said the Creditor's third party counsel. Do you mean a collection agency?

You may have a problem if the original creditor is still showing on your credit reports as charged off. This may still stay this way even if you have made an agreement with a collection agency. Is it a collection agency that you've been dealing with?
_________________
Scott McKay
FreeOnlineCreditGuide.com

jgevertz

Joined: 04 Jun 2009
jgevertz's page
Posts: 3

76 Magic Points

Thu Jun 04, 2009 2:48 pm

Thank you both for your help. It was Citibank who hired a local (where I live) attorney. I made arrangements with the attorney to pay off the debt in full if they agreed to change the status. Rachel answered the question very well. Thank you very much.

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