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Debt not reported to CRAs?

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Blrm
Member

Debt not reported to CRAs?

Me again...lol. I had an overdrawn checking with regions (long story we were in a really bad financial spot at the time) and it was from 2008. It has gone through many collection agencies, but I never got any letters because we moved. I recently got a letter and called regions to see what I owed. Today I settled directly with regions for half the balance. The thing is, none of this has ever shown up on any of my CRs. What is the likelihood that it will? I'm scared that I've reminded them and now they will report.
Message 1 of 7
6 REPLIES 6
Shogun
Moderator Emeritus

Re: Debt not reported to CRAs?

Hopefully it won't show up.  If it does, start the GW process.  At least it's paid.  

Starting Score: 504
July 2013 score:
EQ FICO 819, TU08 778, EX "806 lender pull 07/26/2013
Goal Score: All Scores 760+, Newest goal 800+
Take the myFICO Fitness Challenge

Current scores after adding $81K in CLs and 2 new cars since July 2013
EQ:809 TU 777 EX 790 Now it's just garden time!

June 2017 update: All scores over 820, just pure gardening now.
Message 2 of 7
Blrm
Member

Re: Debt not reported to CRAs?

I totally forgot about GW! That's the plan if it happens. I did get laid off around that time so that could work.
Message 3 of 7
tayra03
Member

Re: Debt not reported to CRAs?

whats a GW process?
Starting FICO Score 2010: >> 629
Current >>>> 12-22-2014 - (700 Experian) - (713 Equifax) - ( 699Transunion) -
Goal FICO Score: 770+ For all 3


Starting Score: 629
Current Score: 713
Goal Score: 780
Take the myFICO Fitness Challenge

Message 4 of 7
guiness56
Epic Contributor

Re: Debt not reported to CRAs?

GW - Good Will.  You write a letter asking them to remove/change/delete whatever it is you want done.

 

There are sample letters in the Other Frequently Requested Threads in my signature.

Message 5 of 7
RobertEG
Legendary Contributor

Re: Debt not reported to CRAs?

While a debt collector could report their collextion after it's paid, chances are probably slim.

 

First, the fact that they have not previously reported may be because they dont have a reporting account with the CRAs.

 

Second,, after paying, they no longer have a real business motive to report.  Debt collectors usually report their collections as a means to pressure the consumer to pay the debt.  Once paid, that business incentive is gone.  Additionally, by reporting, they subject that reporting to possble dsputes over its accuracy by the consumer.

No reporting, no chance of having td deal with a consumer dispute.

 

Other than the esoteric desire to promote the integrity of the credit reporting system by providing to others a full history on the consumer, it is probably a prudent business decision on their part not to report.  Integrity of the credit reportig system is not normallly associated with debt collector business practices........

Message 6 of 7
tayra03
Member

Re: Debt not reported to CRAs?

thanks

Starting FICO Score 2010: >> 629
Current >>>> 12-22-2014 - (700 Experian) - (713 Equifax) - ( 699Transunion) -
Goal FICO Score: 770+ For all 3


Starting Score: 629
Current Score: 713
Goal Score: 780
Take the myFICO Fitness Challenge

Message 7 of 7
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