cancel
Showing results for 
Search instead for 
Did you mean: 

Question for Brammy or anyone who knows...

tag
Anonymous
Not applicable

Question for Brammy or anyone who knows...

Brammy, I saw you answer a question on a judgement that had been paid before it was reported to the credit bureaus.  You said to take proof to local court.  Do you know if the same applies to a Collection?  I've been so gung ho about keeping things off of my report that late one night without even thinking really, I paid a $45 medical collection (not on my report - yet).  I had just gotten the letter earlier that day. 
 
Then today, I was checking on refinancing my car loan for a lower rate on e-loan.com.  I read on their site that once a bill goes to a collection agency, period, it can be reported to the bureaus.  Is that accurate?  Am I now going to have to pay credit-wise because I paid a bill???  I'm concerned.  Smiley Sad
Message 1 of 3
2 REPLIES 2
Anonymous
Not applicable

Re: Question for Brammy or anyone who knows...

I work for a collection agency. Chances are if you paid the account as soon as you received a notice, it won't be reported as a collection account in your credit files. It also depends on who the original creditor is. They will establish an agreement with the agency which may include the option not to report to the credit bureaus until 30 or 60 days has passed without payment. Some agencies won't report to the bureaus at all. For $45, it was probably an inhouse letter used by the original creditor to motivate you to pay 'or else'. You probably have nothing to worry about.
 
PS: Kudos to you for 'doing the right thing'!!
 
:-)
Message 2 of 3
Anonymous
Not applicable

Re: Question for Brammy or anyone who knows...



BMax wrote:
I work for a collection agency. Chances are if you paid the account as soon as you received a notice, it won't be reported as a collection account in your credit files. It also depends on who the original creditor is. They will establish an agreement with the agency which may include the option not to report to the credit bureaus until 30 or 60 days has passed without payment. Some agencies won't report to the bureaus at all. For $45, it was probably an inhouse letter used by the original creditor to motivate you to pay 'or else'. You probably have nothing to worry about.
 
PS: Kudos to you for 'doing the right thing'!!
 
:-)


 
Ditto what BMax said.  I had a few fall through the cracks after my bk.  When I got the letter I paid and never showed up on my report.  I asked the collector before paying and it was the notorious NCO, if they woudld remove it from the report if I paid and they tolf me that it doesn't get reported until its been more than 30 days.                                                                                  

Message 3 of 3
Advertiser Disclosure: The offers that appear on this site are from third party advertisers from whom FICO receives compensation.