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I was wondering how long should it take a collection agency to remove an incorrectly posted collections from my credit report? I have already spoken to the creditor, and resolved the issue with them directly. I am in the process of waiting for several credit card payoffs to post to allow my credit scores to increase, and I don't want this newly reported collection from preventing me from obtaining some prime cards I might qualify for.
So, does anyone have any idea how quickly the credit reporting agencies can remove this from my reports?
The collection was reported by the debt collector, who is the only party that can report its deletion.
If you spoke with the creditor, how was the issue of reporting by the debt collector resolved with them?
Did the creditor agree to first withdraw the assigned collection authority?
If so, then the debt collector will first have to receive termination of the authority from the creditor.
Then, the debt collector will have to initiate deletion. Deletion based on termination of collection autnority is not a specific requiremetn of the FCRA.
It is an administrative reporting directive of the CRAs in their credit reporting manual.
Whether the debt collector will promptly initiate compliance with that reporting requirement is iffy, and you may have to follow up.