topic Re: Help! in General Credit Topics

Help!

Anonymous — Mon, 13 Jan 2014 21:07:47 GMT

Hello,

Looking over my credit report trying to fix some things, below is a copy of what's showing on my report for an account that I paid in full thru the collection company. Anyone know why it's still listed as derogatory?

Also, I have the letter that the collection company sent to the bureaus stating it was paid in full, I can post that if needed.

Derogatory Informational more..

Account Name Account Number Account Type

M.A.R.S.INC

124XXXX

Open

Bureau Bureau Code Date Open High Limit Monthly Payment Account Header Balance Last Reported Account Header Status Amount Past Due

Experian

04/2012

Re: Help!

Anonymous — Mon, 13 Jan 2014 23:47:52 GMT

Although there is no longer a balance on the account that does not remove the fact that the account was placed with this group for collection by someone. They are only required to update the balance due as zero. The reporting stays and since it was a collection agency then it will be seen as derogatory information by the credit monitoring service or listed as such when anyone pulls your report.

The only possible solution at this point to remove the information before the statutory reporting period expires is to send what we call "Goodwill letters" to the collection agency and request that they delete their account from your reports. You may want to do a keyword search in the rebuilding forum to see if anyone has had success with this particular agency. Understand that they are not obligated to delete their reporting and in many cases will not no matter how much effort you expend.

The negative reporting will automatically be excluded after 7 1/2 years from the date that the original account went negative. If you pull your reports directly from the bureaus you may be able to see either a drop off date or a date of first delinquency. If you know who the original creditor was and you have records of when the account became late then you can figure the date for yourself.

Re: Help!

Anonymous — Tue, 14 Jan 2014 00:00:01 GMT

Thanks for the info. The collection company requested that they delete then back in 2012 all deleted except this one. They said they will resend the letter today I just don't understand

Re: Help!

Anonymous — Tue, 14 Jan 2014 00:01:30 GMT

Well at least they are cooperating with you in clearing the reports. That is a blessing that not everyone enjoys. Good Luck.

Re: Help!

Anonymous — Tue, 14 Jan 2014 00:40:51 GMT

So I hear! thank you

Re: Help!

Anonymous — Wed, 15 Jan 2014 01:14:26 GMT

Update* the collection agency emailed me a letter requesting to delete, which is the same letter they will be sending to the bureaus!! Super happy! Can't wait to see if this helps my score increase!