Removing paid/settled accounts

What is the name of your state? Mo.

I know now I should have negotiated before paying or settling my accounts. I have nothing in writing. But for years my creditors said " This will remain on your credit until you pay or settle with us." or " If you settle this account it is not considered a negative item on your report. " I know now that it was a bunch of lies. What legal recourse do I have? These creditors misrepresented the facts. I know it was verbal. I just need something that may work. I've read about estoppel letters, but is that the best? Would complaints to the creditors state AG office help? I want to get these creditors for flat out lying. These debts were all beyond SOL and I only paid/settled believing it would improve my credit. Any advice would be appreciated.

Alan

[djohnson]

You should have done some research before taking the collection agencies word for anything. There is really nothing you can do and what little you can will never result in anything happening as you have no proof and you paid the debts. This is more of an emotional need to be fixed and not a legal. I say chalk it up to experience and go on.

[JETX]

The reports in your credit file are only obligated to accurately reflect your payment history with that reporting 'vendor'. As such, if you paid it in full and were still 180 days late, that 180 days will remain for the full term (7 years). There is simply no obligation for them to amend it beyond the facts.

[bigun]

Mo. has a fairly lengthy SOL. That stuff ought to be close to falling off your reports.

I am in the car industry and consumers try and hold car dealers and sales reps. responsible for their verbal statements all the time. Attorneys take these cases even when the consumer has signed no warranty or implied guaranty statements. It is the same principle. They state the dealer or sales rep. told me this was a good car and it isn't. The creditors told me the negative stuff would come off if I paid and it isn't. I have no problem with it remaining on my cr if it has to. I have a big problem having the facts misrepresented to get money out of me. Four different creditors for years have been telling me lies. I don't believe I am the first or the last. I had settled 2 accounts with the intention of paying in full when I could, but I won't now. And one of these creditors is an auto finance company and everday I successfully convince consumers not to do business with them. I was uninformed when I paid/settled accounts, so I didn't want to drop this with out info. If there is no recourse I will drop it.

[tulicchic]

Dispute neg. entries on credit reports with the CRA's. There are several good credit info boards with good advice for this kind of problem.

creditinfocenter.com is a good place to look.