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Frequent Contributor
Posts: 390
Registered: ‎01-11-2013
0

COLLECTION PAID / not SHOWING ON CR?

Heyhey!

I had a collection of $1500 that HSBC/best buy sent to collections. I paid it off a couple of weeks ago after 14 months of payments. They law firm/debt collector/ca said they would send me a PIF letter in 30 days and they would advise HSBC/LVNV (ca) that the debt was paid.
Is there anything I should do to expidite this process?
Will the collection finally be closed on my CR?
Do you think my scores will increase? I have a couple old paid charge offs, and only this collection.

Any advice/comments?
Thank you!!!!!!!!!

9/2013: Fico EQ 676, EXP 686, Fico TU 686.
NFCU Flagship Sig. $14k..NFCU CashRwdsSig $14k..NFCU LOC $12.5k..USAA Amex 4k..AMEX Green NPSL..Discover IT $1.5k...BofA Cash Rewards123 $2.5k...Southwest Premier $2k..Chase Freedom $1.5k..CareCredit $3.5k..Cap1-$1.5k..HSBC $300...Lowes $1.5k...WalMart $1.5k...JCP $1k..Chevron $1.1k..Kays/Jerrod - $5k split. around 8% Util. Want to get in the 700's in 2013! Have three old paid charge offs. 15-20inq.. LAST APP 8/29/13
Epic Contributor
Posts: 22,406
Registered: ‎01-17-2008
0

Re: COLLECTION PAID / not SHOWING ON CR?

Frequent Contributor
Posts: 390
Registered: ‎01-11-2013
0

Re: COLLECTION PAID / not SHOWING ON CR?

Ca lvnv funding. Oc hsbc says closed as bad debt sold to collections

9/2013: Fico EQ 676, EXP 686, Fico TU 686.
NFCU Flagship Sig. $14k..NFCU CashRwdsSig $14k..NFCU LOC $12.5k..USAA Amex 4k..AMEX Green NPSL..Discover IT $1.5k...BofA Cash Rewards123 $2.5k...Southwest Premier $2k..Chase Freedom $1.5k..CareCredit $3.5k..Cap1-$1.5k..HSBC $300...Lowes $1.5k...WalMart $1.5k...JCP $1k..Chevron $1.1k..Kays/Jerrod - $5k split. around 8% Util. Want to get in the 700's in 2013! Have three old paid charge offs. 15-20inq.. LAST APP 8/29/13
Epic Contributor
Posts: 22,406
Registered: ‎01-17-2008
0

Re: COLLECTION PAID / not SHOWING ON CR?

[ Edited ]

Paying off the collection should not have any impact on your score.  The OC won't update because it is closed and showing a 0 balance.  It was  sold to LVNV and they don't have to let the OC know it was paid.

 

LvNV will have to show it has paid and their collection account will be closed.

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