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Well after paying the settlement that Asset Acceptance offered me of $99 on a $849 balance, they finally updated my CR to show a 0 balance and they even reported it as a paid collection with no mention of a settlement like I asked them to. I know that will not matter in calculating my FICO score, but at least if someone looks at my CR it will look like I paid the account, not settled for a much lesser percentage. Now to start GW them to remove the TL entirely...I know that's going to be tough though. The positive thing is that it should fall off my CR in October of this year no matter what. That is one deletion and one paid collection this week!! Now if I can just get Central Financial Control to update my balance to 0 after paying them a settlement on an account and then I can start GWing them.
They sent me a letter offering the settlement. I sent them a letter requesting a PFD if I paid the settlement they offered. They never answered, so I called. They said they don't do PFD's. I asked if they would just report it as paid, not a settlement, and they said they would. Time was running out, so I went ahead and paid it over the phone. I only had a verbal agreement, but they did report it as a paid collection yesterday, no mention of a settled account.
Nice job. AAC is a tough "cookie" to work with.
I'm curious about how long it took between them receiving your settlement and reporting a 0 balance? I settled three accounts with them this past week (although certainly not at as great of a percentage as you did - well done!) and I'm wondering when to expect that change on my reports...
sorry, also wanted to know if you did check by phone, or sent in a payment/ wondering if that matters in the big scheme of anything...
@Anonymous wrote:I'm curious about how long it took between them receiving your settlement and reporting a 0 balance? I settled three accounts with them this past week (although certainly not at as great of a percentage as you did - well done!) and I'm wondering when to expect that change on my reports...
It took a while. I paid it on January 31. They reported on my TU CR sometime in February, but didn't update it to a 0 balance. I called them and they said they had reported the information to the credit bureaus and just give it a little time. I asked them to send me something saying that I had paid it. When I paid it, they said after 21 days I could request a paid letter. I did, but they never sent it to me. They finally updated it to a paid collection with a 0 balance on March 15. I can only monitor TU right now. It seems that TU takes a little longer than the others to update, but I don't know for sure since I can't monitor my other two right now. There is something funky going on with my EQ report and I can't subscribe to any 3 credit bureau monitoring services at this time. I think something happened when I disputed something on EQ back in January that wasn't reporting correctly. I'm going to give them until the end of the month to straighten it out, and then if it's not, I am going to call again and try to get it resolved.
@Anonymous wrote:sorry, also wanted to know if you did check by phone, or sent in a payment/ wondering if that matters in the big scheme of anything...
I probably shouldn't have, but I did a check by phone since the offer was expiring the next day.