Credit Bureau Investigation Results Inaccurate!!

[Anonymous]

NEED MAJOR HELP PLEASE!!!

#1 - I have "settled" a charged off ccard on my credit report with a collection agency for Capital One. They have updated it to the credit bureaus as recently paid with a balance. I have disputed this and the credit bureau states that Capital One says it is Valid. What do I do????

#2 - Another Collection Agency has an account listed twice (same account #) on my report. I have paid the account. They removed one of the accounts from my report but still have the remaining account marked as derogtory. They state that they removed the paid account. I have an older report that shows both accounts with the same account #. When I call them they tell me that yes, it is the same account twice and it is their mistake but when the credit bureau investigates it, they tell them it is a valid debt. What do I do????

[Anonymous]

Hi MJ, welcome to the forum. There's a wealth of information here, and many knowledgeable people here to help you get credit healthy.

1.) The debt IS/was valid, so the creditor is within his rights to report the payment correctly. And apparently they have done so.

IMO, your only recourse is to write a "goodwill letter" as we call it. There are MANY examples in this forum. Type "GW letter, Goodwill Letter" in the search box at top of page, for some excellent examples.

2.) It sounds as if the CA(collection agency) listed it twice. IMO, call the CA and ask them to remove the duplicate entry. They should. If the collection is paid, it should be marked as such. BUT....it will still be a derog on your CR. And will remain on your credit report for 7 years.

Here again, I think a GW letter is justified.

But please know, that the CA's are under no obligation to remove it from your CR...only mark it as paid.

I'm sure others will chime in with their recommended course of action. Good luck to you.

[Anonymous]

Thank you so much for your help. I guess I wasn't clear with #1. They did not report it paid as a settlement for less than the full balance. They reported as a payment made, still derogatory with a balance. That is not the case and when investigated by the CB, Capital One claimed that it was still a valid debt with a balance. I don't think this calls for a "Good Will" letter does it?

#2 - I did ask the CB to remove the duplicate entry, they "investigated", the CA said it was not a duplicate entry but a valid 2nd account. When I called the CA they said "Oh, your right, it is the same account, same account #." I asked them to please send me something that I could give the CB's and please report this to the CB's as well but have not yet seen any results. What can I do to ensure this is done?