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Additional Details
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 A $50 medical bill from my old insurnce co. in 2005 went into collections. my credit is 819, will they sue? |
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| Is it bad to keep transfering your credit card balance, just to keep that 0.00% APR? |
Additional Details
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 What is the right way of fixing your credit/paying off your debt, without outside assistance? |
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 Capital One credit card? |
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 Social Security Numbers? |
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jmzavattero | I payed an original creditor off. Does the collection agency have to remove it from my credit report? |
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Studly
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I have been responding to this type of problem for several weeks now. I wish you had seen my posts before now....;(
The problem with paying off your debt is that once the creditor has your money, they are not going to do you any favors.
Removing negative credit information can be done, and yes it's legal! But only the creditor can do it. What you needed to do was get IN WRITING that once your bill was paid, they would remove all negative credit information from your records. This does NOT mean to just place "paid" on the account, because it will still reflect that it was in collections or late payments. You will still have bad credit. That is the reason you paid your bill, remember? To clean your credit history?
Now that they have your money, good luck getting them to cooperate. All you can do now is politely ask them to remove it, or at lease put paid on the account.
They can and will do this! I've done it and I've helped many people do it also. |
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violetb
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No, those stay on your credit report, so others may see. |
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minus
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No, You can have a statement saying you paid this debt added to your report. Don't forget there are three major reporting services so you will have to contact all of them. Even then it is not easy to get them to add the statement. You will have to show them proof because what you say means nothing without proof. |
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ladyoh
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no you half to call collection agency |
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sunshine_today
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paying it off won't get it off your report. It will show up as a paid collection. |
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icsowesmemoney
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IT DEPENDS, DID YOU PAY ALL THE INTEREST THAT WAS OWED AS WELL? IF NOT, THEN THE DEBT IS NOT PAID IN FULL AND THEY DO NOT HAVE TO REPORT IT AS SUCH.
WHEN A CREDITOR ASSIGNS AN ACCOUNT TO A COLLECTION AGENCY THEN YOU MUST PAY THE COLLECTION AGENCY. IT IS CALLED AN "ASSIGNMENT OF AMOUNT DUE" AND IT GIVES THE AUTHORITY TO THE COLLECTION AGENCY NOT THE CREDITOR ANYMORE.
IF THE CREDITOR SENT YOUR ACCOUNT TO THE AGENCY FOR SAY $500.00 AND THEN OVER TIME THE AGENCY ACCRUED $100.00 IN INTEREST AND THEN YOU ONLY PAID THE CREDITOR THE ORIGINAL $500.00, YOU STILL OWE THE AGENCY THE $100.00. ONLY AFTER THAT INTEREST IS PAID DO THEY HAVE AN OBLIGATION TO REPORT THE ACCOUNT "PAID IN FULL".
THEY HAVE NO OBLIGATION TO "REMOVE" THE ACCOUNT FROM YOUR REPORT. THAT IS THE REASON THAT WE HAVE CREDIT REPORTS, TO ALERT OTHER CREDITORS THAT SOMEONE DOES NOT PAY THEIR BILLS ON TIME. IF EVERY CREDITOR STARTED REMOVING DELINQUENT ACCOUNTS THEN THERE WOULD BE NO ACCOUNTABILITY FOR ANYONE TO PAY THERE BILLS.
IF EVERYONE IS SO WORRIED ABOUT THEIR CREDIT, THEN THEY SHOULD PAY THEIR BILLS ON TIME, OR DEAL WITH THE CONSEQUENCES. IT JUST THE WAY IT IS, I DIDN'T MAKE THE RULES OR THE LAWS.
YOU COULD CALL THE AGENCY AND TRY TO WORK SOMETHING OUT WITH THEM, BUT SINCE YOU SIDE-STEPPED THEM IN THE FIRST PLACE, THEY WILL NOT BE TOO WILLING TO WORK WITH YOU.
GOOD LUCK |
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OhGreatWiseOneinHipWaders
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No. The records of your payment history will stay on the report. Negative items can stay for seven years. Bankruptcy stays for 10 years. If there is something incorrect in the report it is up to you to file a challenge on the website of the credit bureau that holds that report. They have 30 days to verify the information with the creditor on record. Then they will send you a letter in the mail with the updated information. Keep in mind that it is possible for the same credit item to be listed on each of the three major bureaus so you may have to do the same thing three times. If the original creditor does not agree that the information is wrong, and agree to change it, then you may have to take up the issue with them directly. |
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phill-the-chill
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No they are not obliged to.I am afraid to say.
Been there mate. |
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Just Me
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NEVER SPEAK TO A COLLECTION AGENCY.I was guessing icsowes?? works for these low life's. NEVER pay these people ANYTHING, never feed the monster. If you've paid the OC you just gave away your bargaining power. The best way is to get them to agree to a pay for delete or NOTHING. Once you pay they will keep that on your reports up to 7 years...your credit does NOT improve by paying the debt! ALWAYS get it in writing before you give these blood suckers anything...and only communicate by mail...NEVER on the phone...you law is on YOUR SIDE...educate yourself...there is Lot's on line you can learn...together we can put collection agencies out of biz...they lives of the hardships of others..I'll quit now |
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