Payday loans and Credit Report
Date: Fri, 10/28/2005 - 13:14
I just looked at my recent credit report and FSM Group sold my account to Certified Recovery Systems. Certified Recovery Systems has reported my debt on my credit report. Can they do that?
Hi Shbear A collection agency can hit your credit report with
Hi Shbear
A collection agency can hit your credit report with a genuine cause. Ask them to validate the debt so that you can arrange a payment plan with them. Once the debt is paid off, they need to update your accounts with the credit collections as 'paid'
If the collection agency is not able to validate the debt, then you have the legal rights in forcing the collection agency to remove the incorrect item from your file.
If you have a legitimate debt with this collection company, then paying it off will be quite better so that your credit is improved.
Regards
Roxette
