Should I be Concerned...Advice needed!

[Anonymous]

I am almost completely debt free.  1 more to go.  After hard work and biting the bullet for the latter part of the year.  I also would like to pose 2 questions to the masses if I may.  #1) I am currently paying on this bill which was (ashamed to say) sent to another company.  The original company that sold the account is not talking to the current company that I am now paying.  So nothing that I have paid has posted to the account, nor is the account that I am paying on any of my credit reports.  Should I be concerned? #2)  I have currently settled on an account and I was told that the account would be closed and marked as paid.  So on my reports it says i still owe a balance and I have two accounts that I need to be closed whereas it should be only one.  This was a dollar for dollar deal to match to clear the account.   Should I give this more time to see if this will resolve on its own or draft up a couple of letters to see what the hold up is?

I am open to all comments

I am almost there people...almost home free....

"The greatest lesson is don't owe..."

Assets

[Anonymous]

I would be concerned-
Contact them and ask for statements.

As far as them not updating on the CR- that is good for 2 reasons
1- Keeps the date from updating
2- When it is time to dispute- it is inaccurate and a legitimate reason to delete.

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@Anonymous wrote:

I am almost completely debt free. 1 more to go. After hard work and biting the bullet for the latter part of the year. I also would like to pose 2 questions to the masses if I may. #1) I am currently paying on this bill which was (ashamed to say) sent to another company. The original company that sold the account is not talking to the current company that I am now paying. So nothing that I have paid has posted to the account, nor is the account that I am paying on any of my credit reports. Should I be concerned? #2) I have currently settled on an account and I was told that the account would be closed and marked as paid. So on my reports it says i still owe a balance and I have two accounts that I need to be closed whereas it should be only one. This was a dollar for dollar deal to match to clear the account. Should I give this more time to see if this will resolve on its own or draft up a couple of letters to see what the hold up is?

I am open to all comments

I am almost there people...almost home free....

"The greatest lesson is don't owe..."

Assets

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[Anonymous]

When would be a good time to dispute before or after I have completed paying.

[SmartCookie]

This is a CA you are making payments to, correct?  If so that can resets the SOL for both reporting and collecting.

Issue 1:

What I think would be the best idea if it is within your budget to do so is...

get those statements

offer a settlement as 'legally paid in full' with the understanding that nothing will be reported to any credit bureaus

edit: ok I see this is not reporting currently

Issue 2:

Dispute both TLs as 'not mine'. 

Message Edited by SmartCookie on 12-16-2007 06:47 PM

[Anonymous]

So pretty much get a settlement  (which they have offered) have them mark it as "legally paid in full" and then dispute them to have the TL's removed??

I am new so type slowly...lol

Assets

[SmartCookie]

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Assets wrote:

So pretty much get a settlement  (which they have offered) have them mark it as "legally paid in full" and then dispute them to have the TL's removed??

I am new so type slowly...lol

Assets

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No, have them mark nothing.  You want them to send you a letter that says that the settlement of $XXX.XX will be accepted as paid legally for less than full balance.  This means they can't collect on any difference.. it's PIF.

Now I'm sorry but I am getting your 2 situations confused.  I thought that this one was not reporting.  If it is not, you note in your letter to them (modify it from the PFD example in the Frequently requested threads) that they agree to not report information on the account to any credit reporting bureau and to treat the account as if it never existed.  However you chose to phrase it but make it clear.

If it was reporting, then yes, that is a standard PFD letter and you will require that they remove the TL as a condition of the agreement.