question about an acct pd in full showing as settled for less than due

[peepers]

So now I have my obsession a step further and pulled my husbands reports.  He financed a TV back in 2007, and in 2010 fell behind on payments. It was thru Comenity/American TV.  They called him, and he paid the balance remaining.  When I told him how it was reported he went thru the roof!  So, whats my first step here? 

[pizzadude]

If you are certain that the account was paid in full, you should start with the creditor ~ directly dispute and ask them to change the status.

[guiness56]

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@peepers wrote:

So now I have my obsession a step further and pulled my husbands reports.  He financed a TV back in 2007, and in 2010 fell behind on payments. It was thru Comenity/American TV.  They called him, and he paid the balance remaining.  When I told him how it was reported he went thru the roof!  So, whats my first step here? 

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How exactly is it reporting?

[peepers]

Guiness,   It shows $0 balance

                   Pay status:  Current; Paid or paying as agreed

                   remarks: settled-less than full balance-closed

[guiness56]

After I asked that I read your thread title again.  Sorry.

But I do agree with the other poster, send them a direct dispute.  Do you still have your receipt, any documents?  Here is a template to use.  Leave the bolded area and fill in the other areas with what is asked.  They have 30 days to respond directly to you and must update/change/delete.

This is a Notice of Direct Dispute with you, under the provisions of FCRA §623(a)(8)(D), of the accuracy of information you have reported to my credit file.

In compliance with FCRA §623(a)(8)(D), and enacting regulations published at  16 CFR § 660.4, this Notice of Direct dispute includes:

Identification of the specific information being disputed:

           (specify the account number, and the specific information that is disputed under

             that identifying account)

Basis for the dispute:

            (how the reporting was inaccurate;    was any reporting in violation of any statutory or

             regulatory provisions?  account or express agreements?  CRA reporting gudelines? Account not

              yours? etc.)

Supporting documentation:

            (all documents that support your dispute; it is recommened to also include,

             as part of your documentation, at least a copy of the portion only of your

             recent credit report showing their reporting of the disputed information was

              actually reported to your credit flle.  The implementing rule suggests a  showing

               that it appeared in your credit report)

[peepers]

thanks Guiness.    Since we have no documentation from that far back (he's badabout that, but now he's learned)  I called and asked for a copy of his statement dated 2 months prior to last payment.  That will show me what ending balance was.  Once I have that, and the copy of final payment/paid in full letter they are sending, I will have documentation to send with the letter you suggest.   Due to the statement being 3 years old and archived, I had to mail a letter requesting in writing.  Thanks again for your input!