Paid off debt.. still showing balance on CR??

Date: Mon, 11/01/2010 - 11:15

Submitted by anonymous
on Mon, 11/01/2010 - 11:15

Posts: 202330 Credits: [Donate]

Total Replies: 3

My debt was bought by a collections agency. When i recieved a letter from the CA I was able to pay in full. Now 4 months has gone by and my Credit Report is still showing a balance of the full amount, not the amount that I paid to the CA. The "remarks" section of the CR states that the debt was "purchased by another lender", im assuming this was the CA who purchased my debt. I know i screwed up by letting it go to collections, but how do I approach this situation and who should i contact about clearing this up? Thank you for your time.

If you're talking about the original creditor still showing on y

If you're talking about the original creditor still showing on your credit report as a charge off, there's probably nothing you can do. They did charge off the account and sell it to a CA so what's being reported is factual and will stay on your credit report for 7 years from the last activity on the account. You can try disputing it but it's unlikely it will be removed.

lrhall41

Submitted by OhioGal1 on Mon, 11/01/2010 - 11:22

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Your wrong HOF. If the debt was paid off or transferred sold t

Your wrong HOF.

If the debt was paid off or transferred sold to another lender, the original creditor MUST show a balance of $0. When

Now it can still show a High Balance just not the "balance".

I would dispute on the fact that the balance is incorrect.

lrhall41

Submitted by on Mon, 11/01/2010 - 13:52

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Which is why I said the original creditor would still show on he

Which is why I said the original creditor would still show on her credit report as a charge off. I got the impression that the OP thought the entire thing would drop from the CR, which it won't.

lrhall41

Submitted by OhioGal1 on Tue, 11/02/2010 - 07:57

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