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Is collection cancelation same deletion

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Aallmo
Valued Member

Is collection cancelation same deletion

First I'd like to say thanks to all the people that take time out of their own credit journey's to help others. It's my first OP but I've spent countless hours reading and learning how to begin to rebuild my credit

 

I moved out of an apartment last year and was unaware of a balance owed. Recently I saw a collection on my credit from FCO for $1000. I called to see what it was for and once told offered to pfd. Of course they declined and told me they would only do a pif. So contacted the apartment complex and sure dopsit to see if they could help if I paid them directly. The apartment complex said they would send a cancelation to sure deposit who would in turn send a cancelation to Fco. I called Fco again and they said they would give me a letter saying it was canceled when they receive the request from sure deposit.

 

Is a cancelation enough to get it removed from my credit report? 


Starting Score: 535
Current Score: 667
Goal Score: 680


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randyrhodes
Established Contributor

Re: Is collection cancelation same deletion

I would take it that way. Cancellation of debt means to me that you owe them nothing...but I would ask them if they plan to remove the trade line. What's sounds a certain way to you or I could sound totally different or mean something totally different to someone else. Best bet is wait til you get a copy of that letter then see if they remove it on their own and if not..go from there. Good luck and congrats on your first post!
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Aallmo
Valued Member

Re: Is collection cancelation same deletion

Thanks!! I'll call tomorrow and gets clarification before I pay!Appreciate the advice


Starting Score: 535
Current Score: 667
Goal Score: 680


Take the myFICO Fitness Challenge
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