where to send letter.

[cns]

What is the name of your state (only U.S. law)? south dakota

I have been paying a collection agency for the last 6 months on an old debit of mine. Excitingly I have one payment left and I have paid in full! (then on to the next one)

After my final payment clears I was going to send a letter asking them to update report stating "paid in full" or something.

The collection agency has never reported it. It is only reported by OC. Do I send letter to CA or OC?

Just didn't know if CA had authority to change OC note since they own the debt.
Thanks

 

[TigerD]

The CA will notify the OC that the debt is paid. The OC will update your credit report. It can take up to six months for everything to happen as start showing up in reports.

DC

 

[cns]

6 months? why does it take that long?
If you dispute something on your credit report they are only given 30-45 days to investigate, but collection agencies and original creditors get 6 months?
I could see 60 days. 30 for CA to get paperwork in order and 30 days for OC to get it changed, but 6 months seems crazy.

 

[TigerD]

6 months? why does it take that long?
If you dispute something on your credit report they are only given 30-45 days to investigate, but collection agencies and original creditors get 6 months?
I could see 60 days. 30 for CA to get paperwork in order and 30 days for OC to get it changed, but 6 months seems crazy.

The CA updates the OC files once a month. If you just miss the update, your file sits for a month on the computer. Then the OC correlates data. It could be easy. There could be problems. Give it a week. Then the OC updates the CRA once a month. If you miss their update cycle, your file sits on a computer for a month. Then the CRA processes the data. Perhaps it goes smoothly, perhaps not. Give it a week. Then the CRA publishes the data. How they do it, few people know -- even the ones who are supposed to know.

Then if the credit report is being ordered from an intermediary, the question becomes when did they update their data? If you miss their update date, you wait until the next update.

DC