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Debt settlement

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mobbdeep

Junior Member
What is the name of your state? Arizona

Hello,

I am just inquiring about the process it takes for a debt settlement to show up on my credit report. I was sent a letter to settle a little amount that I couldn't pass up especially for the amount that was originally owed. I paid the settlement amount a day or two earlier than the final date I had to pay it on in order for the settlement to be valid. I received a letter on April 23rd confirming the settlement amount and that I agreed to have it directly debited from my bank account on April 25th, in which it did. For about a week, I was able to login to their payment system to view the details of my account with them but now I can't access it at all. It states that the ID that's mentioned on the letter is not an ID in their system yet it was the one I always used to check the payment status and to also make the make the payment initially.

Anyway, where I'm going with this is that the account I agreed to settle and paid was a closed off account but Experian is still showing it as Revolving/Closed/Charge-Off and not showing that it was paid or anything.

Thank you!
 


adjusterjack

Senior Member
It's only been a couple of weeks. Might take a month or two for the adjustment.

If you don't want to wait, you can file a dispute and provide a copy of your settlement letter to the credit bureau.
 

mobbdeep

Junior Member
It's only been a couple of weeks. Might take a month or two for the adjustment.

If you don't want to wait, you can file a dispute and provide a copy of your settlement letter to the credit bureau.
Thank you. I will wait out the month for it to be reported. I just wasn't too sure.
 

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