60-90 DAYS!???

[OMW2_HighAcheiver]

Hello All

Today I paid a collection account with Capital One WITH Capital One. The rep said it'll take 60-90 days for the credit bureaus to properly report it.

What's your experience with reporting on the bureaus?
Thanks!

[itswink]

I had capital one agree recently to remove four accounts from my reports. They were all gone within 2 weeks.

[OMW2_HighAcheiver]

How'd you do that? Who did you contact? I asked for PFD but of course he said no. I did PIF.

[RobertEG]

If you chose to pay the OC with a collection reporting, then the OC can only agree to deletion of their own reporting, not that of the debt collector.

Are you referring to potential deletion of a reported collection, or of reporting of derogs by the OC?

[OMW2_HighAcheiver]

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@RobertEG wrote:

If you chose to pay the OC with a collection reporting, then the OC can only agree to deletion of their own reporting, not that of the debt collector.

Are you referring to potential deletion of a reported collection, or of reporting of derogs by the OC?

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Is this for me? If it is, I'm confused. I paid (in full) the collection with Capital One. The derogatory reporting should cease. Right? 

[RobertEG]

Yes, once the debt is paid, then any updates will cease.

However, payment of the debt is not basis for requring the debt collector to then delete their collection.

They must update the balance to $0 and close the collection.

Thus, my question is what you are expecting to be reported to the CRA.

If the creditor is reporting, then their reporting will relate only update of their account to show paid, $0 balance.

The debt collector must separately update their own reporting, which can be delayed based on how long before the creditor notifiies them that the debt has been paid, and then the debt collector makes their next regular monthly reporitng.

[OMW2_HighAcheiver]

I'm expecting it to be updated to $0 and negative reporting stopped. I understand all the other delete stuff.