So i disputed an acct on equifax and they endes up deleting the acct which is great. the acct was with nationwide bank. but just 2daya prior i spoke with someone n set up an payment arrangement AND i also sent a letter out to the VP. i just found out it was deleted. I dont know if it will reappear on my credit report being that i made a payment arrangement. do i call back and cancel it? or just do nothing, and also the letter for PFD is already on its way...what should I do?
same thing just happened to me. I disputed the dates that they reported on my late payments after confirming they were wrong with the creditor. The account was just deleted from all 3 of the CRA's but I still owe for the student loan and made a payment yesterday.
So basically, just b/c it was removed from your CR doesn't mean the debt has vanished. You still owe the money as well; unless the account and been zeroed out and closed by the creditor.
Like you, I don't mind the account had been deleted from my credit file because it has 3 derog's on it, and I have a plethora of student loans (installment loans) already reporting so by having that deleted my score jumped 43pts in one day.
my bad, i just noticed this was for a PFD.
so were the terms of the PFD to pay and have them delete, but you disputed before the PFD settlement and it has already been deleted?
Hmm.. I'd still pay it. That way it doesn't show up with another JDB. See what they send back.
You stand a much better chance of it not showing back up if it's paid.
When you say you "set up a payment agreement," what specifically did you do?
If it was a mutual agreement on the part of both parties with agreed terms, they could attempt to enforce it as a contract.
If in writing, most likely a slam dunk for them. If only oral, they could still attempt to enforce it if they can document the contract.
One party cannot just call the other and unilaterally void a contract. If and when agreed payment is due and not forwarded, you could find yourself in court.