Deal with Original Creditor or Credit Agency?

[C_DUBYA]

Hello all.

I have two stubborn CA on my report that are killing me.  I want to do a full payment and then GW.  (Both have declined PFD).

But then I was thinking, what if I pay the original creditors?  In this case ATT and DirecTv.  And then have it removed saying Ipaid them?

Does that make sense or am I crazy?

[rckstrscott]

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@C_DUBYA wrote:

Hello all.

I have two stubborn CA on my report that are killing me.  I want to do a full payment and then GW.  (Both have declined PFD).

But then I was thinking, what if I pay the original creditors?  In this case ATT and DirecTv.  And then have it removed saying Ipaid them?

Does that make sense or am I crazy?

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It is a plausible tactic IF the OC still owns the debt...

If they have sold it, the odds are slim to none because they will have zero ability to impact a CA's reporting..

Legally, they don't have power anyway, but if its an assigned debt, you might be able to negotiate with the OC to have them 'recall' the debt from a CA -- its not iron clad and it is very YMMV, but its always worth a shot if it is assigned and not sold.

-scott

[C_DUBYA]

Thanks.  How do I verify if its sold or just assigned to them?  Ask the OC?

[rckstrscott]

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@C_DUBYA wrote:

Thanks.  How do I verify if its sold or just assigned to them?  Ask the OC?

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are the OC's reporting?? or just the CAs?

Usually debt like this is sold.. but you could call the OCs and see if they will negotiate payment, if they can, they still own it

-scott

[RobertEG]

If the OC still owns the debt, then the debt collector only has collection authority on the debt.  They dont own the debt, and thus there is no "recall of the debt" from the debt collector.

Payment to the OC will automatically terminate collection on the debt, as there is no longer any debt.

The OC is then required to notify the debt collector that the collection is terminated, at which time the debt collector must update their collection to closed, $0 under collection.

There is no statutory or regulatory requirement that a debt collector must delete their prior, accurate reporting of their collection activity based on termination of their collection authority/satisfaction of the debt.  The OC can request them to do so, but nothing compels debt collector deletlion.