Any payment reciepts at all on your possesion? Does MB hava a outstanding balance after payment? If so. Send the CRA's proof of payment and dispute it. But wait 30-45 days for updates to occur on your reports. It isnt instant. Just like a job income. You have to pay taxes. You got goods and services and the bank took a loss.
@INITFORTHELONGHAUL wrote:I do have the attorney's receipt, but no where on it does it show that the payment was for Merrick Bank's collection.
They are currently showing a balance, but for the exact amount that I already paid.
I understand that nothing is instant, but Im panicking because I still do not even have a letter stating that it was paid for my records...
Why would I have tax repercussions if it was paid in full? I thought it would only be taxed if I was given more than a $600 reprieve on the amount owed..
I think @FireMedic1 thought you settled for less.
As far as your issue, I'd keep pressing the issue with Merrick. If that still doesn't work, file a complaint with the CFPB and your state's AG.
@INITFORTHELONGHAUL wrote:Funny story.. I actually filed a CFPB complaint and it immediately closed it out and told me I needed to file one with FDIC. FDIC doesn't have an option for credit reporting complaints. This is a terrible triangle..
Honestly at this point, it may be worth consulting an attorney, as I don't know what else to suggest.
@INITFORTHELONGHAUL wrote:Okay.. I had this Merrick Bank card in 2016. When I divorced in 2018, I quit paying it. Stupid decision--paying the stupid taxes now. It was Charged-Off in 2019. I have been on a run for paying off all collections to fix my credit.
Here's my dilemma: I contacted Merrick Bank, who transferred me to Carson Smithfield, who gave me the number for North American Recovery, who told me they had passed my account to their attorney. I called the attorney. Paid in full the amount due via ACH. Got a letter showing zero balance due from the attorney. Called North American Recovery who said they cannot send me a paid in full letter since it wasnt technically paid through them. They did say that the paid in full was reported to Merrick.
I have since spent nearly 75 hours of my life on the phone with Merrick Bank customer service who cannot transfer me to any dept that can help me with a CO-paid in full letter. I sent faxes and have mailed a letter with my payment confirmation and attorney 0 balance owed letter to the dispute address over 30 days ago to no avail.
How can I get my charge off status updated through Merrick Bank? Does anyone know what dept I need to be in contact with or what the next step is?? This is my last collection over $150 to pay and Im ready to rip my hair out!!
TIA
I missed this nugget. You got a letter that shows $0 balance. So whos on your credit report besides MB?
When was this paid? Was it settled for less or PIF the total CO amount.
@OmarGB9I believe they satisfied the debt when @INITFORTHELONGHAUL said PIF. Thinking the updates havent occured yet.