03-15-2017 09:10 AM
03-15-2017 10:34 AM
Paying the OC, providing they agree to accept payment, does not provide basis for disputing the collection.
A collection is the reporting by a debt collector of their authority to collect on the debt.
Paying does not negate the fact that the debt collector had authority to collect.
The debt collector, upon receiving notice from the OC that the debt has been paid, must close their collection and update the balance to $0.
CRA policy instructs debt collectors not to delete their collection based on payment of the debt, regardless of whose hands the payment first passes to.
CRA policy instructs debt collectors to delete only if their collection authority (e.g., assignment from the creditor) was terminated BEFORE the debt was paid.
Unless the creditor terminated their assignment of collection authority prior to your payment of the debt, there is no basis for dispute of the continued showing of the collection.
03-15-2017 10:44 AM
03-19-2017 06:13 AM
03-20-2017 04:35 PM
I disputed this collections with all 3 agencies last week. I recieved notice from Experian today stating it would be deleted, does this mean the rest will also delete? This was a fairly new collections added Jan of this year, can I expect to see a score increase?
Forums posts are not provided or commissioned by FICO. Forums posts have not been reviewed, approved or otherwise endorsed by FICO. It is not FICO's responsibility to ensure all posts and/or questions are answered.† Advertiser Disclosure: The listings that appear on myFICO are from companies from which myFICO receives compensation, which may impact how and where products appear on myFICO (including, for example, the order in which they appear). myFICO does not review or include all companies or all available products.
* For complete information, see the terms and conditions on the credit card issuer’s website. Once you click apply for this card, you will be directed to the issuer’s website where you may review the terms and conditions of the card before applying. While myFICO always strives to present the most accurate information, we show a summary to help you choose a product, not the full legal terms - and before applying you should understand the full terms of products as stated by the issuer itself.
IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions. Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more
FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.