Next steps after unexpected dispute results?

[Anonymous]

I have a $2k collection on my report from The Bureaus (OC was a Best Buy credit card charged off in 2012, the charge off dropped off my report in December).

I had made a partial payment to HSBC at the time of the charge off before it went to collections. I disputed the collection account with all three bureaus asking to verify all details and that the balance was incorrect.

Haven't gotten the Transunion or Experian results back yet, but got Equifax back today. The Bureaus said they are updating the collection to paid in full.

I haven't paid them a dime! I'm ordering my 3B report next weekend, so I'll see what it looks like then, but if it is updated to PIF, what are my next steps? Send the CO a GW? 

[RobertEG]

If you did not pay the debt, it is not correct to show paid in full.  You are aware that is not accurate.

It is stated that your dispute contested the accuracy of the current balance being reported on the collection.

The CRA referred the dispute to the debt collector, who was then required to respond back to the CRA.

The CRA has no independent basis for changing the current balance under collection.  Any update would be based on the reply from the debt collector.

It is doubtful that the debt collector notified the CRA that the debt was paid.  Perhaps they notified the CRA to update the balance under their collection to $0 if their collection authority has been terminated by the OC, or if the debt collector owns, the debt, thtey have sold it to another.  That is not the same as reporting of paid.

You have a disconnect.  You need to find out the status of the collection.

I would not pursue a request for good-will based on payment of the debt if you know it has not been paid.

However, regardless of the questionable outcome of the dispute over the collection, that would have no effect on the reporting of the charge-off by the creditor.

Unless the debt has actually been paid, there is next to zero chance of getting their good-will. 

Additionally, if the OC no longer owns the debt, then any payment of the debt would not have gone to them, and thus is not likely to affect their good-will, as they still would have taken a loss of most of the sold debt.

[Anonymous]

This is the text from the notice I got from EQ:

>>> We have researched the collection account. Account # − XXXXX The results are: This item has been updated to report as paid in full. We have verified that this item has been reported correctly. Additional information has been provided from the original source regarding this item. If you have additional questions about this item please contact: The Bureaus, 1717 Central St, Evanston IL 60201−1507 Phone: (847) 328−4300

The charge off from the OC is no longer on my reports--between my December 3B report pull and January report pull, the entire OC tradeline disappeared (including 3.5 years of good payment history and the last three months of missed payments before it was closed and charged off) . All that remains is the CA's collection tradeline.

I disputed the accuracy of the data the CA reported, and that was the response I received. If it is reported as PIF, what are my options? I had planned to submit a PFD to the CA for the updated balance I expected to report as a result of this dispute, but if they're reporting PIF, what should I do? I was not disputing the fact that I owed money, just disputing how much money the CA claimed I owed.

I'm ordering my 3B reports next weekend, so I'll see how the collection is reported then.

[RobertEG]

That may be what was received, but you admittedly state that it is clearly incorrect.

Thus, I would not pursue a course that relies upon the correctness of that result as basis fo anything.

I would check whether the collection merely shows $0 balance, or in fact also shows a paid status.