topic Re: Credit collection says they don't report at all. Am I in the clear? in Rebuilding Your Credit

Credit collection says they don't report at all. Am I in the clear?

Anonymous — Wed, 29 Aug 2018 20:46:49 GMT

So my credit was 530 in august 2017 and now it's 730 in august 2018. I recently got a letter from a collection agency for a $550 debt that I got for letting my bank of america account go into the negative in 2016. I called the collection agency and told them if I pay, can I have a letter saying you will not report this to the credit agencies saying paid in full. The rep said that they don't report debts to credit agencies to begin with.

and that's when I hung up.

Am I in the clear if they can't report?

Re: Credit collection says they don't report at all. Am I in the clear?

Anonymous — Wed, 29 Aug 2018 21:26:38 GMT

If reporting to the CRAs is not in their policy—and a CSR confirmed that—you should be in the clear.

I doubt they will be able to, since they assumingly don't do so with other debtors.

It's a long process for a creditor and a CRA to agree to work with each other anyway.

Hopefully, another member can chime in soon.

Re: Credit collection says they don't report at all. Am I in the clear?

Anonymous — Wed, 29 Aug 2018 21:58:11 GMT

Awesome. That's great news!!!

Re: Credit collection says they don't report at all. Am I in the clear?

RobertEG — Wed, 29 Aug 2018 22:53:17 GMT

If you owe the debt, then you are not "in the clear" as to continued activities to attempt collection on the debt.

If only assigned collection authority, the creditor/owner could re-assign or sell, resulting in a new debt collector who might report.

Additionally, if still within SOL, you are not clear of potential legal action.

Re: Credit collection says they don't report at all. Am I in the clear?

Anonymous — Wed, 29 Aug 2018 22:57:12 GMT

@RobertEG wrote:
If you owe the debt, then you are not "in the clear" as to continued activities to attempt collection on the debt.
If only assigned collection authority, the creditor/owner could re-assign or sell, resulting in a new debt collector who might report.
Additionally, if still within SOL, you are not clear of potential legal action.

This is possible, OP. I would pay the debt ASAP. It's such a small amount IMHO.