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GUESTINPA · Posted: Thu Aug 28, 2008 10:22 am Subject: question....

Question, i settled an account with a collection agency back in June for WAMU. How do I find out if they truly paid my creditor? I have an email stating that the account was paid in full but the lady at the collection agency told me she would send me an official letter in the mail, havent' received anything yet.

I know some collection agencies still work with the original creditor and when you pay them it goes to the creditor, correct? How about the accounts that go to collection agencies that don't work with the creditor? How do you get those off your credit report!

I'm just wondering if I'm able to get that charge off off my credit report for the credit card that was settled in full?

thanks!

Posted: Thu Aug 28, 2008 10:29 am Subject:

If a collection agency placed a negative on your credit report they should also place a positive if it was settled. I would check my credit report and challenge the negative if it has not been also listed as paid. Some credit agencies work for a creditor but most have purchased the debt after the original creditor has written it off. You might send them a certified letter with a proof of payment and demand a paid in full letter from them. Reporting inaccurately is a violation of the FCRA.

GUESTINPA · Posted: Thu Aug 28, 2008 10:32 am Subject:

i just checked my credit report and the collection hasn't reported anything....for the creditor WAMU still says, charge off. I don't even see the collection agency anywhere on my credit report!

guestinpa · Posted: Thu Aug 28, 2008 10:36 am Subject:

ok next question....should collection agenics be reported on my credit report?? I only see on collection ageny on there and I am dealing with 3.

The account I settled I got thrown for a loop. i had not been contacted by this so called CreditMax who had my account so it went to Paramount Recovery Servcies and the 1st phone call i got from these people telling me I only had a week to come up with the money or they would take me to court and garnish my wages(which PA is a non-garnish state, didn't know that at that time) so the pressured me into borrowing money from family to pay...grr!

Posted: Thu Aug 28, 2008 10:44 am Subject:

Most collection agencies are interested in collecting money. They do not report and are not required to. If they do report a negative they must also report a positive. There reporting can't be used as a tool of intimidation either.