Chase settlement

[Anonymous]

So i settled with chase and asked for it in writing before i made a payment total was 1600 and we settled for 700, now that i paid them a week ago they updated their report to i owe the difference of 900 on my reports and not a balance of $0 which they i have in writing that they would report as. should i wait a few more weeks or should i dispute it?

[RobertEG]

That is common.  Yes, give it some time.

They will often first process the payment through their accounting department before processing the credit reporting aspects.

Your partial payment was recorded, which is good.

Let the credit reporting department then enter the determination that the partial payment satisfies the entire debt, which will then require update of the remaining debt balance under their collection to $0.

[Anonymous]

thanks robert!