"Settled" debt...but not reporting.

[blh]

What is the name of your state? IL

Sometime back I "settled" an credit card debt over the phone with a collection agency. However, my credit report is still reporting that the account is past due and still has balance.

What are the first steps I should take in getting this corrected?

[boswd]

Originally Posted by blh

What is the name of your state? IL

Sometime back I "settled" an credit card debt over the phone with a collection agency. However, my credit report is still reporting that the account is past due and still has balance.

What are the first steps I should take in getting this corrected?

Once your final payment was made did they send you a letter stating that your balance is paid? I hope you saved it if they did. but in any regards just dispute it with all three Credit Bureau's. If they account is either settled or paid in full they will have to update your report to reflect that.

[blh]

They claimed they would send something in the mail saying that, but naturally that never came.

I did however demand that they fax something over with the settlement details: [url]http://img520.imageshack.us/img520/2620/imagerq2.jpg[/url]

[boswd]

Originally Posted by blh

They claimed they would send something in the mail saying that, but naturally that never came.

I did however demand that they fax something over with the settlement details: [url]http://img520.imageshack.us/img520/2620/imagerq2.jpg[/url]

Keep asking until they do. But in the meantime go forward and dispute it with the CB's, this may take up to 30 days to complete so I would reccomend disputing with the CB's on line it should be quicker.

I had the exact same problem with an old bank loan that I paid off with the Bank's inhouse collections department and it still showed up on the report that it had an outstanding balance. It is still in the dispute process but I know exactly where you're coming from.
who knows you may get lucky and if the Agency doesn't confirm your dispute with the CB's, I think they remove it, I think I'm not sure but definitly go and dispute it and they will be forced to update your report.

[MeMyself&I]

I am running into the same problem. I have two accounts that I settled with two different crediting agencies that never showed up on my credit report. I paid off both accounts. Who do I contact to verify? The original creditor or the collection agency?

[boswd]

Originally Posted by MeMyself&I

I am running into the same problem. I have two accounts that I settled with two different crediting agencies that never showed up on my credit report. I paid off both accounts. Who do I contact to verify? The original creditor or the collection agency?

Do all three. Contact the original creditor who will most likely tell you to contact the CA and contact the CA and dispute it on all three CB's.

Now you have to look again at how it appears on your Credit Report. It will stay on there for up to 7 years regardless if you did pay it or settled it. So you want to make sure that it has a paid or settled next to the account. I reccomend disputing it online, much quicker results.