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Contributor
Posts: 91
Registered: ‎12-09-2012
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Help! Not sure if I screwed up.

I've spent since early 2009 really putting forth effort and money to clean my credit up. I had assistance cleaning up anything that couldn't be validated. Everything else has fallen off and have reestablished good credit with both revolving and installment accounts.  There is one last collection company (Portfolio) that has been persistent (not harrassing, just doing their job). I always answer their calls, I'm courteous, and simply explain I have no intention off paying the debt, but will be happy to answer as long as they feel like calling.

So, the other day I answer.  The young lady took a slightly different approach than normal and I guess I was in a slightly different mood.  After she explained the settlement amount I proceeded to explain the the amount of the settlement is not what was preventing me from settling the account.  I honestly explained to her the account no longer reported on any CR and I did not want to provide a new date of last activity by doing the right thing, settling the account, and then have it show up on my credit report(s).  She explained that it should not be reported if they are not currently reporting the TL.  I explained that is what I understand to be true, but I got burned a couple of years ago in the same situation where an account that had just dropped off, I did the right thing and paid anyhow, and it showed back up as a paid collection. It took me the better part of a year to have it removed. I spoke with her supervisor who explained that agency was not within the law to do that and assured me if they weren't reporting (then confirmed they weren't, which I knew) that it would not report because I settled.  I felt they were being honest, seemed to have an understanding of the Fair Credit Act, so I paid the settlement amount.  My stomach has been in knots since then...

Did I screw up? 

800+ Fico score achieved in 2015---awesome
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Contributor
Posts: 91
Registered: ‎12-09-2012
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Re: Help! Not sure if I screwed up.

[ Edited ]

Surely somebody has some insight... Just need some reassurance that they can't report and what I can do if they did report.  Prior to me settling the account yesterday, the last payment date was in March of 2003.  Account was opened in 2000.

800+ Fico score achieved in 2015---awesome
6 cards $118,600 credit line
Regular Contributor
Posts: 230
Registered: ‎09-22-2012
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Re: Help! Not sure if I screwed up.

I highly doubt they would go to the trouble of reporting if it is not reporting now. Furthermore, the date of first deliquency is always going to be 2003, so it is too old to report. They cannot legally change that date. If it were to show up, I hope you have their contact info. And good for you paying them. It should feel good to be honest, and it should not come back to bite you in the rear. 


Starting Score: EQ 416 TU 498 EX 468 Lender Fico's July 2012
Current Score: EQ 548 (Myfico) TU 655 (Walmart) CK 672 EX?? CS 642
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Contributor
Posts: 91
Registered: ‎12-09-2012
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Re: Help! Not sure if I screwed up.

Thank you for the reply.  I was pretty sure they didn't have reason to report, and it was too old to report.  That said, it so hard to get everything corrected and start over.  The thought of fighting to get something removed again because I did the right thing was just eating me up.  And yes, I do have the direct extensions for both the rep and her supervisor (already called them back just to check).  Thanks again for putting me at ease.

800+ Fico score achieved in 2015---awesome
6 cards $118,600 credit line
Regular Contributor
Posts: 230
Registered: ‎09-22-2012
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Re: Help! Not sure if I screwed up.

You are welcome. I don't think you have anything to worry about. Happy new year!


Starting Score: EQ 416 TU 498 EX 468 Lender Fico's July 2012
Current Score: EQ 548 (Myfico) TU 655 (Walmart) CK 672 EX?? CS 642
Goal Score: For now: 640s


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Posts: 13,897
Registered: ‎04-15-2011
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Re: Help! Not sure if I screwed up.

Nope, you didn't screw up.  I think you did the right thing, paying it so it doesn't show up as a bottom feeder.  Portfolio is an absolute pain, but if it can be said a CA is somewhat credible, then they would be included in this.  It's done and gone.  Keep moving forward.

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EQ FICO 819, TU08 778, EX "806 lender pull 07/26/2013
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Contributor
Posts: 91
Registered: ‎12-09-2012
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Re: Help! Not sure if I screwed up.


Shogun wrote:

Portfolio is an absolute pain, but if it can be said a CA is somewhat credible, then they would be included in this.


That is the impression I have. They've been consistently calling me on average once or twice a month for the last couple years. For the most part, their reps are professional and pleasant.  When I looked them up online there were complaints, but how fair is that... THEY'RE A COLLECTION AGENCY!Smiley Happy I have nothing bad to say about them.  Thanks again for the replies.

800+ Fico score achieved in 2015---awesome
6 cards $118,600 credit line
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