After paying Collection Agency in a panic....

Have you checked your credit report recently? Once you pay your old charge-off, your credit report must show it as a paid charge-off. If it does not, you can contact the collection agency and ask them to report the latest update to credit bureaus.

If you don't get a satisfactory response from the agency within a considerable time, you can contact the credit bureau with all the documents of your payment. The bureau will investigate on the matter and will make necessary changes if required.

Whenever settling debt like that, you should try to reach an agreement (in writing) before you pay off the account.

For example, ask them to provide you with a letter stating in exchange for X amount of dollars (your debt) they will clear your credit of negative marks or "upgrade" existing marks to something more desirable. When you make the payment, send a copy of their agreement back with it. If they don't hold their end of the bargain you can show that to the credit bureaus and they'll make the changes themselves.

I've done this before and it worked out well.

that's a cool advice from cryptowizard.

I now, I realize that AFTER I made the payment. I paid the full balance onto my American Express card so the only proof I have I guess is the Amex statement.

I will contact them and as them to show that as paid in full, because it is still not updated.

Think it is better to call, send letter, or call AND send a letter?

Johnfish

A written correspondence leaves a valid proof of your efforts made because you can track it later. Right?

You can contact them over phone also but also insist on a written communication.

I will start a letter, send it so I get receipt too.

JohnFish,

I think it will be easier for you to select a suitable letter from the list of sample letters compiled by Debt Samaritans.

Sweet!