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Hi all, I've been reading through the threads on this but haven't seen many people who updated on their success. As is common practice for these collection accounts, they're reporting on Experian as currently past due, with a 1 month term, and FP every month. It's killing my score even though the accounts are 5 years old. I filed a complaint with both the BBB and the CFPB, but I was wondering if there's anything else I can do and if anyone here had success with the methods I've just tried. Any advice is appreciated!
Both have stated deletion policies on their websites and they live up to them. Welcome to the board!
@gdale6 wrote:Both have stated deletion policies on their websites and they live up to them. Welcome to the board!
+1
@Anonymous wrote:Hi all, I've been reading through the threads on this but haven't seen many people who updated on their success. As is common practice for these collection accounts, they're reporting on Experian as currently past due, with a 1 month term, and FP every month. It's killing my score even though the accounts are 5 years old. I filed a complaint with both the BBB and the CFPB, but I was wondering if there's anything else I can do and if anyone here had success with the methods I've just tried. Any advice is appreciated!
Hi and welcome
As stated above, both will delete upon payment, but out of curiosity, what was your complaint about?
Is their reporting inaccurate?
@Anonymous wrote:
My complaint was the way they’re reporting. They report it every month as past due so my credit score keeps taking a hit.
If the debt remains unpaid, they have every right to report that it remains unsatisfied, because you are past due every month. That's why your complaint produced no results
Good news is, you can probably settle these accounts for amounts less than owed and no one will know as they will get deleted.
If you do not wish to pay, they may report for the entire time they are on your CR.
Also, if you wait too long, these accounts may get sold to different CAs, the ones that dont delete, so that can make your situation even worse.
Up to you how you want to proceed with this.
Good luck.
@Anonymous wrote:
Luckily I’m past the SOL for them to be able to sue for these debts in my state. They fall off in about a year, but the way they report really sucks and I can’t believe it’s legal.
Well a top Moderator, a Community Leader, and a knowlegable poster have told you the same thing. It is legal and they are doing it. So if it takes posting the company policy to for you to see it. Here it is. So this will be 4 members now. If you want to pass up on gaining points to your score. So be it.................
"Your account will be considered paid-in-full or paid-in-full for less than the full balance after your final payment is successfully posted. Within approximately 30 days of your final payment successfully posting, we will request the credit reporting agencies delete the PRA tradeline related to your account from your credit bureau report."