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Who to contact OC or CA?

Established Member

Who to contact OC or CA?

This is likely answered somewhere in this forum, but I wasn't able to find anything specific to my situation.  One of the OC's showing on my credit report is First Premier Bank, but they sold the debt to Arrow Financial Services.  Both are listed as collection accounts.  I've contact Arrow via DV and PFD letters, but the First Premier Bank account is the one showing 3 late payments.  Do I contact First Premier Bank with a GW to remove the late payments (or the entire account?) or will it get removed if I get Arrow to remove the collection account?  I'm a newbie to this forum so forgive me if I didn't follow forum protocols exactly.  Thanks for the help.

Message 1 of 5
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Moderator Emeritus

Re: Who to contact OC or CA?


beegeez wrote:

This is likely answered somewhere in this forum, but I wasn't able to find anything specific to my situation.  One of the OC's showing on my credit report is First Premier Bank, but they sold the debt to Arrow Financial Services.  Both are listed as collection accounts.  I've contact Arrow via DV and PFD letters, but the First Premier Bank account is the one showing 3 late payments.  Do I contact First Premier Bank with a GW to remove the late payments (or the entire account?) or will it get removed if I get Arrow to remove the collection account?  I'm a newbie to this forum so forgive me if I didn't follow forum protocols exactly.  Thanks for the help.


Welcome to the forums! You are doing just fine.

I'd suggest reading the following:

Common Abbreviations

Credit Scoring 101 - great for knowing what is in your credit score and to see how your score is impacted.

What Steps Do I Take - great for learning the repair process.

and Example letters - PFDs, GWs, DVs, etc.

 

I take it that Arrow (CA) is the only one reporting a balance? If so, Arrow owns the debt and the only thing you can do with them is do as you did (DV, then a PFD if they verify).

 

Now handling an OC can be tricky. If this TL doesn't help your overall history or your AAoA, then it wouldn't hurt to zap it by requesting a deletion via a GW. If it does help your overall length of history and AAoA, then you wouldn't necessarily want it deleted because of the loss in history and potential score drop. I had First Premier and had one 60 day late reporting. I asked that they delete the TL and they did. My score dropped because it was one of my oldest accounts.

 

If Arrow opts to delete because of an acceptance to a PFD, then the OC can still report. One doesn't have anything to do with the other.

Message 2 of 5
Established Member

Re: Who to contact OC or CA?

Is there a chance that First Premier would remove the late payments yet leave the account on my report?  Or would they only consider deleting the account completely, being that the account is no longer active.  It would be nice if they would remove the late payments, but not delete the account so that I could keep the history I have with them.

Message 3 of 5
Moderator Emeritus

Re: Who to contact OC or CA?

You can always ask. Now some opt to delete a TL instead of removing the lates, even if it was requested, alone, that the lates just be removed. Some CCCs are quirky like that. If you don't mind the risk and if you think it hurts more than helps, then aim for a request to delete the lates only. Worst case scenarios would be that they do nothing (then you can try and try again) or they delete entirely, but at least your CR looks cleaner for it.

Message 4 of 5
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Community Leader
Epic Contributor

Re: Who to contact OC or CA?

The question I would ask is not whether you should send the OC a GW letter, but rather what reasons are you offering them for their GW deletion?

Chances are very good that the OC has already taken a financial loss.  When they sold the debt to the CA, they only received a fraction of the debt on the account.

They are probably not in a mood of good will. What incentive can you offer to them?

 

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