Negative item taken of CR after I requested Investigation..

Submitted by Anonymous (not verified) on Wed, 03/12/2008 - 22:49

I requested an investigation on a $42 item on my credit report and they send me a letter showing that they are investigating it, and that all collection efforts will be stopped until the results. It looks like this is a old bill I actually owe (so I assume it will get verified).
Suddenly so the item has disappeared from my credit report, even so they just started their investigation. Do they temporarily remove the items from CR while they investigate?
I am also waiting for a letter stating that they will remove the item of my report if I make the full payment, which hasn`t arrived yet.

So my 2nd question is. If I make the payment now, do you think they will add the item back onto the report as Paid, or just leave it off. Is there any way to tell? Should I wait for the "promise letter to remove" before paying, if it ever shows ?

Thank you for your help

If it is paid they may add it back on as paid. You can wait for the letter or since it is such a minimal amount you could just pay it off and not have to worry about it again.

Thu, 03/13/2008 - 00:46 Permalink

When the investigation goes on, the item is temporarily removed from the credit report.

Let the credit reporting agency get back to you with the results. Do not pay right away. If the item gets disputed you would be at a loss. If it does not get removed, in that case you have to contact your debtor and negotiate regarding the account.

Thu, 03/13/2008 - 07:53 Permalink

Good sound advice. I was unaware that they had to remove it until after a dispute is cleared. How long does a dispute process generally take?

Fri, 03/14/2008 - 23:29 Permalink

I've disputed a few things, on my CR. BOTH times, it took( about?) 30 days. The disputes were with 2 different CB. BOTH answers I recieved via regualr mail. Hope this answers your question.

Tue, 03/18/2008 - 01:31 Permalink

Yep pretty much. Thank you for your quick response.

Tue, 03/18/2008 - 10:42 Permalink

Hi Fireyone,

Once you dispute with the bureau, they have 30days since the receipt of the letter to investigate and get back to you. If they do not get into touch, you have to send follow up mails to the respective bureau. Now always remember to keep your documentation intact. To keep track of these letters send via certified mail with a return receipt request.

Tue, 03/18/2008 - 11:33 Permalink

Okay thanks Laura. At least they don't make you wait forever. thirty days isn't too long to wait around.

Wed, 03/19/2008 - 00:48 Permalink

When I disputed items, i think the CB's actually answered in LESS than 30 days. I know it may seem like a long time, but..just think, YOU SAVE MONEY by doing this yourself. ...and not giving some 'credit fix it' place a zillion dollars to 'remove items for you'.

Wed, 03/19/2008 - 02:51 Permalink

I have always disputed my credit through the mail and never had a problem with a timely response. I am also one who hates credit repair companies because anybody can learn how to do it for themselves.

As far as the above situation I would definately wait until you receive the letter from your creditor before paying it off but I would pay it regardless of whether your dispute works or not. Even if removed temporarily it can still show back up in the future as long as it remains unpaid.

Wed, 03/19/2008 - 03:15 Permalink

Doing it yourself is important because we come to know the process from the base. Why keep doing things that we dont know properly. I am not completely armed to survive the credit issues but I have inside out knowledge regarding certain things. Then I have this forum to fall back upon. Thanks to you all.

Wed, 03/19/2008 - 05:25 Permalink

I perfer doing it myself also. It is the reason I joined this site. Lots of help and info here. Even if your unsure how to go about things someone can guide you if you keep them posted.

Wed, 03/19/2008 - 22:59 Permalink

Mine was not removed during investigation, it just says in red letters that it is being disputed beside the entry. They have never removed them, they are there just say, under investigation.

Fri, 03/21/2008 - 16:25 Permalink

Thats what mine said. They never in fact removed it.

Sun, 03/23/2008 - 00:12 Permalink

It has been that way ever since I disputed it, I don't think they will take it off until they get confirmation either way from the one who is reporting it negatively, what are your thoughts fireyone.

Sun, 03/23/2008 - 00:30 Permalink

I think you are exactly right. Shouldn't these places be given a timed limit is verifying. MAybe they do. This whole credit report stuff leaves me wondering if I should of had a PHD before I even began looking into it. It seems the more you learn the more you still need to know.

Mon, 03/24/2008 - 02:28 Permalink

True and it can be very frustrating when you are trying to rebuild yourself, it seems the creditors have the upper hand on all this stuff, drives me crazy. I filed a few disputes here last week, hopefully they will agree with just one to have them take it off. Pretty sad when the odds are against the consumer like this. We really need a new system, I don't know the answer, but there has got to be something better.

Mon, 03/24/2008 - 10:56 Permalink

Yes it is a very sad situation especially from our end. What I think the worst thing about all this when you stuggle and finaly pay off a past due closed out account and they still list it up to the 7 years. I know we made the debt but come on now can't they at least throw out a little award and take it off your record. The account is closed after all and we could have not paid. Probaly sounds rude but if they put more incentive into it maybe they would get better results.

Mon, 03/24/2008 - 17:37 Permalink

I agree, I think it should be taken off your record or put in a paid section, not positive or negative, it should no longer have any bearing on your score. Of course there are those who won't agree with this, but it is just my opinnion. LOL, I have paid and paid and still have a crappy score, don't think it is fair at all.

Tue, 03/25/2008 - 01:29 Permalink

I've been there and it works for equifax but not the other two. I keep getting that they validated my debt even after investigation. I respond that I want proof of their validation and they simply tell me to contact the creditor. Where is a good place to get info to follow to work through the more challenging situations?

Tue, 03/25/2008 - 22:45 Permalink
LULUPR (not verified)

Who I supposed to send letter disputed to the bureau or the company reported that the account mistaken?

Tue, 03/25/2008 - 23:46 Permalink

Well isn't that part of their job to provide you with proof? Contacting the creditor usually spells future harassment.

Tue, 03/25/2008 - 23:52 Permalink
LULUPR1 (not verified)

But the bureau always comes with the same reply that the dispute was verified. Some one told me to write to the creditor. What do you think?

Wed, 03/26/2008 - 01:07 Permalink

As far as I know dispute happens with the bureaus whereas you validate with the creditor. Send a debt validation letter to the creditor.

Wed, 03/26/2008 - 08:35 Permalink

You are right scott, they usually send out an email to them first.

Wed, 03/26/2008 - 11:10 Permalink

These guys sound like they know what they are talking about. Hope you tale their advice and it all works out for you.

Wed, 03/26/2008 - 18:35 Permalink

I found an inquiry on my credit reports which said FFFC-PRESTAM .... someone know who is? The address does not appear at the end of the report...

Fri, 03/28/2008 - 03:25 Permalink