A few semesters ago I paid for school on a payment plan thru my community college. I thought I had made the last of my payments but due to losing a debit card the auto draft did not take the last payment of $75 from my new card. It was several months before I realized this when I visited my parents house where my mail was going. Upon receiving the collection notice I immediately called and made full payment of the $75. A few weeks later I was alerted online that my score had fallen from a 720 down to a 646. I have a relatively short credit report consisting of only one credit card with zero balance and no late payments, one retail card with zero balance and no late payments and finally an auto loan with all payments made on time for the life of the loan. I couldn't believe my score had dropped so low until I saw that I have a "Failure To Pay" from EOS CCA reporting to all three bureaus for the $75 I had just paid. The payment status reads "Paid, was a collection account, insurance claim or government claim or was terminated for default". I couldn't believe that after paying in full they decided to report the debt and I was even more shocked that my score dropped over 70 points. This is the only bad mark on my otherwise spotless credit report. I am going to be looking to purchase a new vehicle soon and hate to know that my rates will be higher due to this issue. Is there anything I could do in order to have this mark removed? I understand that I am at fault for paying late. However, I know this is not an accurate representation of my ability to pay my obligations. Any advise would be GREATLY appreciated!
Starting Score: 598
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Starting Score: 501 EX FAKO
Would I email or send a letter through snail mail for this? Also, is there a specific format I need to follow or anything specific I should mention? Lastly, how would I go about finding the correct contact and place to send this to? Sorry, I am a complete noob here.
I just sent the letter today. Hopefully I hear something back. Between my recent CLI and getting this removed my score should shoot up to 733 according to the score planner on my credit monitoring website. **Crossing my fingers!**
Well I submitted the letter on 12/6 and as of 12/18 the EOS collection account has been removed from my credit report and my score is now sitting at a 733 (up 84 points!!) 
So happy!!!
@BDHEAD wrote:Well I submitted the letter on 12/6 and as of 12/18 the EOS collection account has been removed from my credit report and my score is now sitting at a 733 (up 84 points!!)
So happy!!!
Congrats... very happy for you!
-scott
