Ca not on CR?

[Anonymous]

So I printed out my CR and some of my OC's are charged off. I called the OC and was giving the info to the CA. Turns out that one of the CA arent on my credit report yet. It so happens that the CA is handling two of my cards. Should I call the CA and cut a deal before they report to my CRA? If all works out should I then get in contact with the OC by way of a GW letter so they can delete the charge off?

[Lois5669]

I'm pretty new to this "repairing my credit" game but my answer would be, "Yes, contact them if you know they have your debt (since the OC said they did) and see if they will work with you on a payment to get it settled."

Collections are the worst to have on your CR. These are what I'm working on first and foremost. I received a dunning with a great settlement offer last week from a CA that just took over for my OC that just now started reporting "transferred/sold." I didn't need another collection even having a chance of showing up on my CR so I paid as fast as the next day.

Pre-empting more damage has to be the way to go....

[pipeguy]

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@Anonymous wrote:

So I printed out my CR and some of my OC's are charged off. I called the OC and was giving the info to the CA. Turns out that one of the CA arent on my credit report yet. It so happens that the CA is handling two of my cards. Should I call the CA and cut a deal before they report to my CRA? If all works out should I then get in contact with the OC by way of a GW letter so they can delete the charge off?

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CAs use credit reporting (negative TL) as a means to pressure you to pay, this a standard operating procedure for leverage. You could contact the CA and offer a deal, but if you deal understand that once they find out you are afraid they'll report your second account (I assume they are already reporting one account), they'll use this against you as far as what they'll deal. You need to get in writing that the accounts are satisfied and that any (all) tradelines will be deleted. Since their (the CAs') bottom line is they want to get paid it certainly can be done, just be careful and strike your money deal before you set the terms for delete.

[RobertEG]

Additionally, the FCRA does not prevent a debt collector from reporting their collection after you pay the debt.

Once they have obtained collection authority, they can accurately report that fact to the CRAs.  There is no time deadline.  The occurence of the collection is still factually correct.

As has been said, since most debt collectors use credit reporting as a debt collection practice,they really obtain no benefit from reporting after the debt is paid.

So it is probably unlikely, but not prohibited.

Getting a promise not to report is always a good practice when paying a collection that has not yet been reported to a CRA.