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removing collections paid in full

Posts: 1
Credits: 323.15
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I have alot of collections I have paid off and now i am trying to get them removed because they are still hurting my credit. How can I do this fast?




DebtCruncher

Posts: 2298
Credits: 26979.080293007

Sub: #1 Even if they are paid in full, they can still be reported on you
Sat, 11/11/2006 - 21:37

Even if they are paid in full, they can still be reported on your bureau for 7 years from the date of first delinquency (albeit, they would have to be reported as a paid collection)...

Keep disputing it, either indirectly through the credit bureaus or directly with the collection agency. Every time you dispute it, they have to go through the process of "validating" it in accordance with FCRA.

Bank on the fact that they get so many disputes, and have better things to do, and one day they may just "delete" it instead of go through the trouble of validating it.


Here's another hint: When you dispute your credit report through the bureaus, they send what's called an ACDV to the person who reported the information, and request them to respond.

If you dispute just the balance and/or status, then the person validating the account has the option to simply check a box that says "accurate as of date reported". They don't have to do anything else, and it will remain on your credit file.

BUT if you dispute ownership of the account and say it is not yours, then they cannot simply check the "accurate" box because the ACDV requires them to validate your identity as well; for these types of disputes, they have to go through the process of typing in your name, address, phone, social, and DOB.

In other words, if you say the account is not yours, its a lot more of a pain in the @$$ to keep validating.




Jessi
Posts: 3370
Credits: 26958.55

Sub: #2 Great information, Mike! And very true..I've used the same metho
Sun, 11/12/2006 - 05:22

Great information, Mike! And very true..I've used the same methods myself.

You'll find some bureaus work better with you than others, but don't give up. I've also called the CA's and asked them to delete the records...It's worked a couple of times..It's more of a long shot.




Alexandra
Debt Samaritan
Posts: 544
Credits: 10885.25

Sub: #3 You have those removed with some credit bureaus more than others
Sun, 11/12/2006 - 12:37

You have those removed with some credit bureaus more than others. I have a hard as hell time proving that something is paid (I have to send in receipts). Some credit bureaus won't and some will. Keep sending letters and being persistent.

The Best Way To Be Is Debt Free
and Alexandra is becoming free!




natdust20
Posts: 1350
Credits: 16427.74

Sub: #4 Were any of them charged off??
Sun, 11/12/2006 - 17:06

Were any of them charged off??




mcranberra
Posts: 524
Credits: 7194

Sub: #5 Even charged off accounts are reported in the credit report for
Mon, 11/13/2006 - 08:36

Even charged off accounts are reported in the credit report for seven years. Only inaccurate info can be disputed and the CRA will return the updated file after removing all the errors.

In some cases, the CA will tell that they are not going to report anything negative after you pay off the account. Though, accurate negative information cannot be disputed if it appears in the file, but if the CA is saying that it won't be reported, tell them to give it to you in writing. They are the ones responsible for your credit reporting with legitimate reasons.




Unregistered

Sub: #6 Hey is there way to remove paid collection accounts from credit
Sun, 03/08/2009 - 10:42

Hey is there way to remove paid collection accounts from credit report..plz help me..
i am ready to do whatever.it may..i need to take it off from creditreport.
any help is appreaciated..plz




DebtCruncher

Posts: 2298
Credits: 26979.080293007

Sub: #7 Wow, I think this was my very first post on this site.... Edi
Sun, 03/08/2009 - 20:46

Wow, I think this was my very first post on this site....

Edision - all I can tell you really, is what I originally posted above. Paid collections don't necessarily have to come off your credit report, just legally they would have to show a zero-balance/paid. ALl you can really do is just keep disputing, and hope the CA deletes rather than take their time to verify the information.




imanage717
Posts: 7
Credits: 95.15

Sub: #8 if it shows paid will score increase? I am in a similar situatio
Thu, 03/19/2009 - 04:09

if it shows paid will score increase? I am in a similar situation and am trying to buy a house, I have the cash to pay of old collections but want to do it where I will benefit in the long run.According to my mortgage broker, FHA 1st time buyer can have no collections regardless of score. Does anyone know if this is true?




NASCAR_Devil


Posts: 4668
Credits: 30821.544972777

Sub: #9 A paid collection will not increase your score. In fact, it may
Thu, 03/19/2009 - 04:47

A paid collection will not increase your score. In fact, it may have the opposite effect depending on how old it is. Paying will show a newer DOLA which initially could drop your score.




imanage717
Posts: 7
Credits: 95.15

Sub: #10 so what is my goal? What is the wording needed on the report or
Thu, 03/19/2009 - 04:53

so what is my goal? What is the wording needed on the report or am I going for deletion?




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