topic Re: Input, should I pull the trigger? in Rebuilding Your Credit

Input, should I pull the trigger?

cartwrna — Fri, 09 Jan 2015 13:36:00 GMT

Alright, so as many of you know, I have a Verizon collection that I've been fighting. I filed a BBB complaint due to a bunch of tacked on charges here and there as well as a 623 dispute (they never replied to), the debt is within SOL for another 6 months according to the Federal wireless SOL of 2 years. Anyways I got a reply to the BBB dispute a week or so ago that includes a PDF of Verizon's letterhead stating the debt stands at full, but upon payment they would update the status to "paid", it doesn't state "paid collection" but just "paid". Which is just a neutral comment and the collection would no longer affect me as it has no late pays showing aside from 1-90 day on EX. My question is, if I was to pay and they actually updated it to a "paid collection", would that letter be enough to get it turned around?

Re: Input, should I pull the trigger?

cartwrna — Fri, 09 Jan 2015 16:39:26 GMT

I've read through posts and seen where people say even if it is coded "paid" and not paid collection, FICO will still score it as a collection. How is this if there's no indicators that it is a collection? No lates no remarks status will say Paid.

Re: Input, should I pull the trigger?

CBrent — Fri, 09 Jan 2015 17:19:07 GMT

For what it's worth, I have a paid medical collections on my report that reads 'paid' on my Equifax report, while the other two state it was a paid collection. It's listed under collections on all three reports.

Re: Input, should I pull the trigger?

cartwrna — Fri, 09 Jan 2015 17:19:52 GMT

My Verizon account isn't listed under collections, it's under revolving debt.

Re: Input, should I pull the trigger?

Anonymous — Fri, 09 Jan 2015 17:30:31 GMT

Is it showing as a charge off?

Re: Input, should I pull the trigger?

cartwrna — Fri, 09 Jan 2015 17:40:11 GMT

No as open

Re: Input, should I pull the trigger?

cartwrna — Fri, 09 Jan 2015 17:46:33 GMT

Looks like this:

Company: Verizon Wireless
Loan Type: Unknown
Acct # xxxxxxx
Account holder: Individual
Date Opened: Jul 2012
Status Date: Dec 2014
Condition: Open
Last Activity: May 2013EQ blank on TU and EX
Balance: $1164
Status: Collection Account *said they will change this to "paid"
Late: 0 timesEQ and TU, 1-90 day EX
Remarks: account disputed by consumer

Re: Input, should I pull the trigger?

cartwrna — Fri, 09 Jan 2015 20:38:36 GMT

Any advice?

Re: Input, should I pull the trigger?

gdale6 — Fri, 09 Jan 2015 21:00:53 GMT

@cartwrna wrote:
Alright, so as many of you know, I have a Verizon collection that I've been fighting. I filed a BBB complaint due to a bunch of tacked on charges here and there as well as a 623 dispute (they never replied to), the debt is within SOL for another 6 months according to the Federal wireless SOL of 2 years. Anyways I got a reply to the BBB dispute a week or so ago that includes a PDF of Verizon's letterhead stating the debt stands at full, but upon payment they would update the status to "paid", it doesn't state "paid collection" but just "paid". Which is just a neutral comment and the collection would no longer affect me as it has no late pays showing aside from 1-90 day on EX. My question is, if I was to pay and they actually updated it to a "paid collection", would that letter be enough to get it turned around?

The 2 year SOL you are referring to applies only to billing between carriers, the written contract SOL applies to all end user telecom bills. Verizon is the OC not a CA so all they can do is report that they sent it to collections and then report the account as paid once it actually is, they would not put "paid collection".

Re: Input, should I pull the trigger?

cartwrna — Fri, 09 Jan 2015 21:23:34 GMT

By report that it went to collections, where would this be at gdale6? Nowhere on the trade line does it show as a collection once I pay and it updates to "paid", it's in the revolving debt section, not the collections section of credit reports.