Collection Agency Out Of Business

[meljeff1]

Hello all: I have an account that went into collection in April 2009 and was paid that same month. So the account is on my CR as paid and closed. I was looking into writing a GW letter to get it deleted but the agency is out of business. How can I get this deleted? Is it even affecting my score since it's from 2009. Should I dispute it? Thanks for the help!

[seruby]

Dispute it, watch it go bye bye.  Since the CA is no longer in business, the CRA has no way to verify, so they'll have to delete.

[meljeff1]

But what would be my reason for disputing it?

[Burned2manybridgesB4]

Be mindful that it could've been bulk purchased by another CA, which hasn't updated. Asking for CRA intervention, to validate, will go either way, but be prepared for the item to update.

[meljeff1]

Why would another agency purchase a debt that's been paid? Just a question.

[Burned2manybridgesB4]

When a CA is tanking, it's typically absorbed by another CA to obtain the files for pennies on pennies.

[Burned2manybridgesB4]

The odds are in your favor with the dispute.

[meljeff1]

We'll the dispute is in process. I will update the thread when it's complete.

[Burned2manybridgesB4]

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@meljeff1 wrote:
We'll the dispute is in process. I will update the thread when it's complete.

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Did you dispute with all CRA's, or just one? They do not communicate with each other.

Also, it can potentially take up to 30 days for their "investigation."

[meljeff1]

It seems as though it's only on my experian report.