12-05-2012 06:55 AM
So I recently paid an old bank account off last week after NCO popped up on my report for them. I forgot to ask the bank if they will update the CA that it was paid in full. Should I wait a little bit or should I call the OC and see if they will do that or call NCO to see if they'd be willing to delete the TR from my report since it's paid in full?
12-05-2012 07:01 AM
Was it a PFD from OC. If so they will delete but as far as the CA by not working with them to PFD u have put yourself at their mercy they may delete or not
12-05-2012 08:13 AM
I would contact them soon, as the transaction will be fresh in their mind, and really plead your case. Since you paid the OC, they can recall the account from CA. Admit your mistake, and tell them how much you need their help. Be nice and don't get mad at all, that won't work for this type of transaction. Good luck.
12-05-2012 11:46 AM
Just got off the phone with Suntrust. No luck, gave me the standard "stays on your report blah blah blah" which I get they don't have to do anything. They said they can give me a letter on Suntrust letterhead staing I paid and that NCO will be updated within 30 days to show zero balance. Should my next step be to email NCO with a copy of the letter and suntrust chasiers check showing full amount paid and beg for a deletion?
I want to smack myself for not asking for PFD before I did anything, but what's done is done. I really want / need this off because I want to apply for a mortgage at the end of next year.
12-05-2012 11:59 AM
You could file a dispute after it updates to show paid in full. It is not really the "right" thing to do, but if you can find one error in the reporting, it makes it okay. I can just about always find something wrong, as they rarely get it 100% accurate. I have gotten a few deletions this way on paid accounts.
12-05-2012 03:07 PM
Another thing I also noticed is that when I searched NCO here, I came up with an address in TX. The one I sent my DV to was an address in Delaware, which was the one that was on my CR. Does anyone recommend DV'ing again but send it to the TX addy? A lot of people had very good results from sending it there?
12-05-2012 03:24 PM - edited 12-05-2012 03:26 PM
The moment the OC accepted payment as satisfaction of the debt, the collection was terminated due to absence of any debt.
They had/have the obligation to immediately notify them as such in order to curtail any improper collection activity on their part.
Upon notificatioh of termination of the collection, the debt collector is required to promptly update their reporting to reflect that (1) it is now closed, and (2) the collection balance is $0. Whether you paid the debt in full or settled for less is immaterial, as the debt is satisfied and thus the collection amount is $0. A debt collector who is only an assignee of the OC is not reporting debt, they are reporting collection activity.
Failure to timely update is a violation of FCRA 623(a)(2), for which failure to update is basis for filing a direct dispute with the furnisher. A slam-dunk dispute.
However, they have the option of simply correcting. Deletion is not mandated as a result of a reported inaccuracy unless the furnisher cannot either correct or provides verification of its accuracy. So it will require them to correct, not delete.
They do not have to delete their prior reporting, and the OC cannot "pull back" that reporting. They can only request the debt collector to delete.
12-05-2012 07:58 PM
No reason to DV, debt is paid. It would be in your best interest to GW NCO.
Forums posts are not provided or commissioned by FICO. Forums posts have not been reviewed, approved or otherwise endorsed by FICO. It is not FICO's responsibility to ensure all posts and/or questions are answered.Advertiser Disclosure: The listings that appear on myFICO are from companies from which myFICO receives compensation, which may impact how and where products appear on myFICO (including, for example, the order in which they appear). myFICO does not review or include all companies or all available products.
* For complete information, see the terms and conditions on the credit card issuer’s website. Once you click apply for this card, you will be directed to the issuer’s website where you may review the terms and conditions of the card before applying. While myFICO always strives to present the most accurate information, we show a summary to help you choose a product, not the full legal terms - and before applying you should understand the full terms of products as stated by the issuer itself.
IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions. Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more
FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.