Paid in full

Date: Thu, 04/18/2013 - 15:23

Submitted by anonymous
on Thu, 04/18/2013 - 15:23

Posts: 202330 Credits: [Donate]

Total Replies: 3

I want to know if a collector by law cannot report as paid in full if reaching a settlement amount. My collector tells me it is illegal to report paid in full if full payment isn't received.

collector is correct...Fair

collector is correct...Fair Credit Reporting Act requires creditors to report accurately or the consumer can dispute it and have it removed. If you settled the account, it will report as settled.

lrhall41

Submitted by SOAPLADY on Thu, 04/18/2013 - 15:43

( Posts: 17315 | Credits: )

Collection accounts stay opn your credit report for 7 years from when it was originally reported delinquent. The most you can do is send the a GW delete letter and ask them to stop reporting. The effort has a good chance failing but it is still worth a shot. I know a few people who managed to get away with it.

lrhall41

Submitted by Steve Barris on Sun, 04/21/2013 - 21:49

( Posts: 1043 | Credits: )

CA's dont do goodwill...they

CA's dont do goodwill...they have no benefit from goodwill. And a CA is not going delete when they wont report a settlement as a paid in full. Waste of a stamp.

lrhall41

Submitted by SOAPLADY on Mon, 04/22/2013 - 07:29

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