Regular Contributor
Posts: 110
Registered: ‎12-09-2012
Help! Not sure if I screwed up.

I've spent since early 2009 really putting forth effort and money to clean my credit up. I had assistance cleaning up anything that couldn't be validated. Everything else has fallen off and have reestablished good credit with both revolving and installment accounts.  There is one last collection company (Portfolio) that has been persistent (not harrassing, just doing their job). I always answer their calls, I'm courteous, and simply explain I have no intention off paying the debt, but will be happy to answer as long as they feel like calling.

So, the other day I answer.  The young lady took a slightly different approach than normal and I guess I was in a slightly different mood.  After she explained the settlement amount I proceeded to explain the the amount of the settlement is not what was preventing me from settling the account.  I honestly explained to her the account no longer reported on any CR and I did not want to provide a new date of last activity by doing the right thing, settling the account, and then have it show up on my credit report(s).  She explained that it should not be reported if they are not currently reporting the TL.  I explained that is what I understand to be true, but I got burned a couple of years ago in the same situation where an account that had just dropped off, I did the right thing and paid anyhow, and it showed back up as a paid collection. It took me the better part of a year to have it removed. I spoke with her supervisor who explained that agency was not within the law to do that and assured me if they weren't reporting (then confirmed they weren't, which I knew) that it would not report because I settled.  I felt they were being honest, seemed to have an understanding of the Fair Credit Act, so I paid the settlement amount.  My stomach has been in knots since then...

Did I screw up? 

800+ Fico score achieved in 2015--7 cards for a total CL of $175,900