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Quick question. I paid of an old collection with an agreed upon PFD. I have it in writing. It has been about 20 days and it still hasn't been deleted. Is it possible for me to forward my letter to the CRAs and have the process expedited? Or do I have to wait for the company to delete it themselves?
Do not forward that kind of info to the CRAs. You are basically giving proof to the CRAs that the collection is valid. Not good if you plan to dispute it (if need be) later on. I believe it can take up to 45 days to get the deletion. You may want to get with the CA on how long it normally takes for them to remove the collection from being reported.
@Anonymous wrote:Quick question. I paid of an old collection with an agreed upon PFD. I have it in writing. It has been about 20 days and it still hasn't been deleted. Is it possible for me to forward my letter to the CRAs and have the process expedited? Or do I have to wait for the company to delete it themselves?
Normally CA's report to the CB's on the 15th / 30th of the month, id be paying attention to those dates maybe 2-3 days afterward.
@Anonymous wrote:Quick question. I paid of an old collection with an agreed upon PFD. I have it in writing. It has been about 20 days and it still hasn't been deleted. Is it possible for me to forward my letter to the CRAs and have the process expedited? Or do I have to wait for the company to delete it themselves?
I have forwarded the final letter that the Collections agency faxed to me showing that they agreed to delete the information and documenting that this was a part of the agreement. Yes this did speed up the process for me.
I agree with MyCreditStinks as far as getting the CRA involved in a PFD matter. Technically, it is against the CRA reporting guidelines for a creditor/debt collector to ever report deletion of prior, accurate reporting in exchange for payment of the debt. This reporting instruction is repeated numerous times the CRA reporting manual. By involving the CRA, you are asking them to provide assistance in the violation of their own rules.
You have a private contract agreement with the debt collector, and compliance is not regulated under the FCRA. Periods for correction or deletion of information in your credit report are only governed under the FCRA if the correction or deletion is mandated by the showing of their innacuracy via the successful resolution of a dispute of accuracy.