Removal from Credit if paid in full - legal for CA ?
Date: Mon, 03/03/2008 - 19:28
I have one item for $39 that I must have forgotten to pay in 2003. It just started showing up on my report. I don`t mind paying it in full, but the CA tells me they can not remove the item of the report if paid. I always get the same story. There is not a big motivation since its 2008, so I only have to wait 2 years for the 7 year removal to take effect. If I pay now, it will remain on my report until 2015.
Paid or unpaid is supposedly just as bad for the point system of your credit score.
Any recommendations, or ideas ? Is there anything in the FCRA that states that the CA may remove the listing if you pay it of.
Why wouldn`t say, isn`t it all about money and not integrity here?
Pay it now, and it will still fall off in 2010... If it does not
Pay it now, and it will still fall off in 2010... If it does not fall off after that, dispute as obsolete, and it should disappear. Paid collections do not "renew" the credit reporting period.
To your last question...it's a little of both; but at $39, your
To your last question...it's a little of both; but at $39, your account is not likely to be worth much in commission to the collector. He/she probably doesn't care if you pay or not.
Thanks, I didn`t know that it doesn`t renew, wich is one of the
Thanks, I didn`t know that it doesn`t renew, wich is one of the myth out there :)
Then it only makes sense to pay.
But is there anything in writing that makes it illegal for CA to remove the entry in your report once you pay it? I would love to be able to quote a rule or part of the FCRA that permits such a removal.
Thanks,
no, there is nothing illegal whatsoever about thyem removing it.
no, there is nothing illegal whatsoever about thyem removing it. Reporting to the credit bureau is not mandatory, and once it is ont here they are not required to keep it on there. The guy's feeding you a load of BS there. The FCRA only states what the maximum amount of time it can stay on there is, it doesnt mandate them to leave it on there that whole time.
The voluntary removal of entries on a credit report is frowned u
The voluntary removal of entries on a credit report is frowned upon by much of the business community, because it is contrary to the purpose of the report (a tool to help creditors assess risk).