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Who do I contact?

chancep
Valued Member

Who do I contact?

I had a Barclay card that was 120+ late. Balance was $47xx. I was contacted by these guys.

 

http://www.bqlaw.com

 

I called Barclay and they refused to talk to me and told me to contact ^them. I spoke with them and we agreed to settle the debt for $2000. I made the payment  2 months ago. I don't have anything in writing but I do have both of the phone calls I had with them recorded.

 

Now when I look at my credit report via the capital one app, it shows I have a delinquent account with Barclay for $47xx. No 0 balance with charge off remarks.

 

My question is, who do I contact about getting that reported properly?

Message 1 of 4
3 REPLIES 3
chancep
Valued Member

Re: Who do I contact?

 
Message 2 of 4
chancep
Valued Member

Re: Who do I contact?

I contacted BQLaw and they said they have reported it to Barclay and it's just a waiting game with Barclay. Does anyone have an estimate as to how long that could take? I'm not in a hurry, just trying to get an idea of how long I should wait before I start disputing the account.

One other question, once this goes on my report as a charge off, will I see a dip in my score?
Message 3 of 4
RobertEG
Legendary Contributor

Re: Who do I contact?

As I understand the post, only the OC is reporting, and it now reporting a status of 120-late with a balance.

If you have paid the debt, then the creditor is required under FCRA 623(a)(2) to "promptly" update the status to paid, and the balance to $0.

No removal of derogs, such as the 120-late or any charge-off, is required.

 

The requirment to "promptly" update is not in terms of days, weeks, etc.

It is a subjective period.

A reasonable interpretation of "promptly" would be in their next regular monthly reporting cycle, which can be at least 1 1/2 months.

 

I would first call the creditor and make sure they have recieved notice of payment.  If they then do not update within 45'ish days, I would file a dispute.

Message 4 of 4
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