My wife and I recently applied to move into a new apartment and before they ran our credit we let them know that 3 years previously we had had a dispute with a previous landlord over a really exorbitant cleaning bill. When we wrote and disputed it, the company didn't bother to pursue us in the courts( I wonder why?) but placed it on our credit instead. They even placed in on my mother in law's credit as she'd co-signed for us two years earlier (despite the fact that when resigned the lease for another 12 months they'd told us her signature wasn't needed - oh the deceit!!)
The Manager in the new complex's office informed me that if we paid this one debt off, they would be more than happy to rent to us. The next day I got my annual bonus at work and although reluctant to pay a bill I didn't feel was justified, I drove to the management company's collection office and paid it off - getting a signed confirmation letter, hand-written receipt and bank counterfoil for the money order. The person at the management company told me the 3 Credit bureaus would be informed within 7-10 days (apparently this can now be done electronically - is this true?) and the entry should be removed.
Having read various posts, am I being a bit niaive to think this will happen? Will Experian remove this entry or just note it as "paid in full" or "paid late"? If it is removed, will this help raise my credit score? Should I forward a copy of the receipt, etc to the 3 credit bureaus myself?
Please let me know if you have had a similiar experience and what happened.
The Mngt company gains nothing be leaving this on your report- It is quite common (here at least) for them to delete. Wait 30 days to see if it deletes or updates. If it only updates- go back the the mngt co - If it deletes - be happy
Best to get an agreement IN WRITING with the management company as part of your payment of this "disputed debt" stating that for your consideration in paying off this debt in full they must remove this "bogus debt/collection" from all 3 of your credit reports! That way if they fail to remove the ding from your credit reports (and most likely they won't since you are cooperating with them and giving money) you have a record to submit to the 3 credit bureaus to dispute. Good luck!
I have a letter from the company stating that they will contact the credit bureau within 30 days although their guy said he could do it electronically and it should be done within 7-10 days...obviously I'd prefer to off within 7-10 but I have heard that some companies just tell you that and then do nothing.
Ok good news - this came off my wifes credit. Bad news - Experian don't seem to have removed it from my credit! I spoke to the guy in the collection department and he said he would do something called a "Bullseye" report (apparently collection departments can email the 3 bureaus directly and ask if the debt has been removed - did anyone know this? - Experian told him they had updated their records to show it had been paid) so I am puzzled why its still showing up....any tips to sort this out?
More good news - my wife and I found a nice condo to rent and the landlord approved us based on the "myfico" credit report that I printed off and said no problem, so screw those B****** at the apartment complex...