topic Re: CA letter Says Paid in Full, CRA still show Balance in Rebuilding Your Credit

CA letter Says Paid in Full, CRA still show Balance

Anonymous — Fri, 29 Aug 2008 14:38:57 GMT

Received summons for debt. Call CA/Lawyer who tell me how much is owed ($1550.00). I do not settle but pay the exact amount. The amount they qoute is $200 less than balance on Credit Reports ($1750.00). I get a letter from CA/Lawyer stating the debt is paid in full. My Cred Reports still shows $200 balance. OC listed on CR and not CA. What to do to reconcile the difference between zero balance and $200 balance. Thanks in advance

Re: CA letter Says Paid in Full, CRA still show Balance

Anonymous — Sat, 30 Aug 2008 03:30:52 GMT

Does the letter you have what debt you were paying?

If so, send a copy of that to the OC and explain that your CR shows a balance and you have proof that the debt was paid in full, to please update your report to report accurately.

Re: CA letter Says Paid in Full, CRA still show Balance

Anonymous — Sat, 30 Aug 2008 06:31:00 GMT

Does the letter you have what debt you were paying?

If so, send a copy of that to the OC and explain that your CR shows a balance and you have proof that the debt was paid in full, to please update your report to report accurately.

Letter says

Dear XXXX (my name)

As the attorney for the creditor on the above account, I certify that the above account has been paid in full.

XXXXXXX (Name of law firm)

Professional Corporation

By xxxxxxxxxxx (handwritten signature)

Debt Collector

No amount is shown anywhere in the letter.

Re: CA letter Says Paid in Full, CRA still show Balance

Anonymous — Sat, 30 Aug 2008 12:13:07 GMT

When it references the account, does it reference the CA or the OC? Does it give the account number?

Re: CA letter Says Paid in Full, CRA still show Balance

Anonymous — Sat, 30 Aug 2008 14:52:40 GMT

Yes it does reference the account number of the creditor and also lists the creditor as Capital One Bank (USA) Formely known as Capital One Bank. It also shows the file number of the CA

Re: CA letter Says Paid in Full, CRA still show Balance

Anonymous — Sat, 30 Aug 2008 18:19:07 GMT

If you dispute with the CRA, it is possible that it will be deleted instead of updated. This could hurt you more than help you if this is an older account.

If you send a copy of this to the OC and ask them to report correctly, it is possible that they will remove it completely also.

If you want to take the chance, then send a copy of the letter to one or the other along with a letter that it is reporting inaccurate and needs to be corrected.

Re: CA letter Says Paid in Full, CRA still show Balance

Anonymous — Sun, 31 Aug 2008 18:37:09 GMT

If you dispute with the CRA, it is possible that it will be deleted instead of updated. This could hurt you more than help you if this is an older account.

If you send a copy of this to the OC and ask them to report correctly, it is possible that they will remove it completely also.

If you want to take the chance, then send a copy of the letter to one or the other along with a letter that it is reporting inaccurate and needs to be corrected.

Thanks for responding.

The account was opened in june 2001 and yes it is an old account. Thanks for pointing out the downside of having it deleted. Initially I was under the impression that my credit would look better if negative trend lines are deleted regardless of their age.