01-28-2014 06:55 AM
I recently settled in full a DSNB Macys charged off credit account. The agreement was to report as settled in full with a zero balance. It's been almost two months and they are reporting an owed balance. It's only showing the difference of what I settled for. I've talked to the CA they use and they send they report to Macy's and it's up to them to report correctly.
What is my next step? The people I talk with at Macy's keep reffering me to the CA.
01-28-2014 11:02 AM
First dispute in writing to the CRA's that there should be 0 balance due as it has been settled, if they fail to get a correct updated record then you can escalate it to the CFPB, it is obvious neither of them is going to do anything without some prodding as they point the finger at each other.
01-28-2014 11:25 AM
There should be no issue of one waiting for the other.
Each is responsible under FCRA 623(a)(2) for promptly updating their own reporting so as to maintain its current accuracy.
The debt collector reports that they no longer have a debt under their active collection authority, and the creditor reports that there is no longer a debt owed to them.
Apples and oranges.
If you paid the debt collector, they are aware that is is satisified, and must promptly report as such.
They must also notifiy the OC that the debt is satisified, after which the OC is then responsible for updating their reporiting to also show $0 debt owed to them.
I would send a direct dispute to each if they have not promptly updated, as required under section 623(a)(2).
They must respond directly back to you within 30'ish days.