From One Agency to Another

[burin4life]

Hello All,

        I am in the process of rebuilding my credit and have been making phone calls to the reporting agencies. My question is I had a collection that was with an agency and they sold it to another. The old agency gave me the number to the new agency and they agreed to a settlement, but when I pulled my credit report I did not see this agency listed. Should I pay this new agency or just wait until I see this new agency on my credit report?

[LIGHTNIN]

You just don't want the new CA to agree to a settlement, you want them to agree to not report at all on your CR.

FICO scoring sees a paid CA the same as an unpaid CA, no score change.

Send a DV letter and if they verify send a PFD Letter,  just re-word it to agree to not report instead of delete.

Here's a thread you may find helpful What Steps Do I Take?Do I DV?PFD? 

Good Luck to you.

[RobertEG]

It is not necessary for a debt collector to report to a CRA in order to conduct collection on a debt.

Debt collectors will often hold off on credit reporting until they are ready to conduct active collection activities with you, as reporting triggers your right to send them a DV letter, and thus invoke a cease-collection bar until such time as they provide validation.

Since you have had initial communication with them, they should have already provided you a formal collection notice under FDCPA 809(b).

You can DV, thus placing a cease collection bar on them until they have first validated the debt.