Did you pay the Original Creditor or the Collection Agency?
Does the account now report as PAID or does it still show an unpaid balance?
I paid kay jewelers, it says account closed, (Credit line closed / not paying as agreed) balance is $ 0
Is there a Collection Agency also reporting this, or is the OC reporting "Collection/Charge Off?"
If it is only the OC, you may try the Good Will letter, since you paid in full. You cannot DV on an OC like you do to a CA.
No there is not CA, the OC is reporting and they are reporting:
Account type: Revolving Charge Account
Payment status: Credit line closed / not paying as agreed
Comments : Credit line closed-grantor request-reported by subscriber
Your credit report should have a "CREDITOR" section with contact info at the end. Look for Kay's and send a Good Will letter. Be sure to reference the account number. There are some great GW letter examples in the forum.
As for reinstating your account, you can ask, I am not sure, but you never know till you ask. If they won't reinstate, they may still GW for you, which will remove the derog.