Collection Agecny

[Debt]

What is the name of your state? MA

I recently went into agreement with a Attorney Office acting as a collection agency for a credit card company I have a card with. I mailed in my first payment under this agreement (with a personal check) almost a month ago and it has not yet been cashed. I called the Attorney about this matter and she stated that they have the payment although she not sure when it came in and they should cash it shortly.

My concern is how this will post on my credit report. What can I do if they do not post my payments to them in a timely fashion?

[bigun]

Unless you were able to negoiate a payment for deletion deal, it won't much matter when it post to your credit report. Paid in collections or, paid/settled looks awful on a report.

[Debt]

I'm sorry I think you miss understood my questions. I'm making monthly payments not one payment and want to make sure they post them on my credit report.

[bigun]

Debt,
I didn't misunderstand. They are not going to report anything to the CRA until you've paid in full. Then, it'll read pretty bad unless you negoiated a positve tradeline or, deletion.

[JETX]

Debt: Bigun is correct.

The history of this debt are very probably already reported on your credit history. And if so, then your payment history will very probably not affect that report.... that is unless YOU negotiated a specific report rating when payment is finally made.

[Debt]

I am to my understanding re-starting payments as I normally would and they should be posting them to my account. I have proof that I was working out the terms of payment as to why my account will show no payment activity for several months starting with my mother's death in January and ending with the aqusition of my account by the lawyer in March and our settlement in July.


The account is actually still made payable to the original creditor but is sent to the lawyer. This is why I feel they should be posting my payments as timely on my credit report. Perhaps I should send written notification about the events that occured from January through July to the credit agency. Given the information I have listed above what can I do to make sure they post my payments to my credit report.


Linda

[JETX]

Linda, you are misunderstanding the purpose and intent of the CRA's (Credit Reporting Agencies). They do not report monthly (or even quarterly) account status. That is done by your individual creditor. The CRA simply receives reports from their subscribers (creditors) and your credit profile report reflects only what is turned in to them.

It is entirely up to your creditor to report your account existence, your payment history and/or your final account status (if/when paid). Your credit history file with the CRA only reflects what is reported to them. There are in fact lots of creditors that don't report your account at all.

Additionally, you do have the right (from the FCRA) to have the credit profile be reported accurately. If you feel that a report is in error, you can send a letter to the CRA asking that they investigate the claimed error and if they find that an error did occur, they have to correct it.

[bigun]

Linda,
Have you looke at your credit reports? How is the orginal creditor reporting your account?