How to handle collection that's NOT on reports?

[Seangar]

So I had a checking account with BoA over a year ago, it was overdrawn and sold to a CA (capital management services LP). Sadly, I ignored the CA's letters and forgot about them. So last week I just received a settlement offer from this CA, asking me to pay $375 of the $750 I owe. I'm more than willing to pay it off, the problem is....this collection/debt isn't on any of my credit reports (nor is the original debt from BoA)? I'd hate to pay it off and than see it pop up on my reports. I'm not trying to awaken any sleeping giants. So how should I handle this?

Thanks a lot! 

[Shogun]

I'd take the settlement now, especially since it's recent and not reporting.

[Seangar]

Ya, I've considered it. But with my luck, I'll pay it than it'll pop up on my credit report. Should I send them a PFD letter or just simply asked them not to update the credit reports? Thanks

[Shogun]

Good question.  Maybe a modified PFD so they won't report.

[2NE1]

Just wondering, isn't one able to dispute with the CRA's if a collection was paid before being reported?

[Shogun]

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@2NE1 wrote:

Just wondering, isn't one able to dispute with the CRA's if a collection was paid before being reported?

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No, if it was a collection, it can be reported at any time.

[2NE1]

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@Shogun wrote:

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@2NE1 wrote:

Just wondering, isn't one able to dispute with the CRA's if a collection was paid before being reported?

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No, if it was a collection, it can be reported at any time.

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I guess what I meant was... if a collection was PAID to the OC. What about those cases? If the $$ owed was paid to the OC can the CA still report months after it was satisfied?

[Shogun]

Technically the answer is NO.  If they no longer have collection authority and haven't collected on the debt, ie. it was paid to the OC.  They should delete their posting.  Key word here is "Should".

[GooseGirl]

I had 2 collections that were in a similar situation. In both situations I called the OC paid them and then called the CA and notified that payment had been made with the OC. Neither one of the CAs have ever hit my credit reports. Maybe I was just lucky with the CA that i was dealing with but wanted to pass along my personal experience for what it may/may not be worth

[mitchblue]

I don't see a reason not to pay it. I would think if you didn't it would end up on your CR anyway..