Paid Before CA reported to CRA

[movinup1]

Hello,

So, I got some $$ for Christmas, and have been wheeling and dealing to get the last handful of baddies off my reports. I had two returned checks that made it to Payliance. I offered PFD in November, but got shut down. I finally PIF last week, only for them to tell me that one of the checks had been sold to Trident Asset Management in December. So the processed my payment for half, and I immediately called this new CA and paid the remaining balance. This new CA, Trident Asset Management has not shown up on my reports yet. Did I dodge a bullet? Will they report, since there's now no more balance on the account? I still have my confirmation showing full payment to Payliance, so if Trident does report, can I dispute saying that full balance was paid to previous collector?  Has anyone else had this happen before?

[guiness56]

They can report and show a 0 balance.  It happens a lot.

[Shogun]

+1  I would send a GW to them.

[RobertEG]

+1

A collection is the reporting of their authority to collect on the debt, and is reportable as of the date they receive collection authority.

The FCRA does not prevent reporting of that fact after any point in time, such as termiantion of that authority or satisfaction of the debt.

As a practical matter, debt collectors use credit reporting primarily as a tool to further their collection of the debt.

Reporting after satisfaction of the debt serves no business purpose on their part, so is most likely not high on their list of things to do.

[foreverb]

I have a returned check with Trident Asset Management that is on my credit report, prior to paying it, they advised that it would be deleted from my credit report within 30 days, also provided me with a letter. I paid them and called them to confirm payment recieved, and they confirmed once again it will be removed in 30 dyas...I am just waiting on the alert that it has been removed. I'm sure since they already collected, they should not report...