cancel
Showing results for 
Search instead for 
Did you mean: 

How to proceed after settlement?

tag
reckedhim
Frequent Contributor

How to proceed after settlement?

So I had an account go to Midland and they ended up hiring a local law firm to sue me.  I was able to settle with the law firm before the first court date.  The case is now closed/settled.

 

How would I go about getting the collection account removed from my CR?  Would I contact Midland?  The law firm?  The OC?

 

Below is what shows up on my credit report.  Any advice would be greatly appreciated.  Thank you in advance.

 

Status as ofDate opened [?]Date of last activity [?]Account number[?]Loan type [?]Terms [?]Account Type [?]Account holder[?]Industry
Nov, 2013
Mar, 2013
Not Available
8559XXXXXX
Unknown - Credit Extension, Review, Or Collection
1 Month
Installment
Individual
Collections – Non-Specific

No contact information provided by Experian

Balance [?] Current Status [?] Past Due Amount [?]
$3,970Account seriously past due date/account assigned to attorney, collection agency, or credit grantor's internal collection department$3,970
Seven year payment history [?]30 days late60 days late90+ days late
0 times
0 times
7 times (Nov 2013, Oct 2013, Sep 2013, Aug 2013, Jul 2013, Jun 2013, May 2013)
Message 1 of 6
5 REPLIES 5
reckedhim
Frequent Contributor

Re: How to proceed after settlement?

Also, the settlement was just finalized today.  How long should I wait before I start sending GW letters or something else?

Message 2 of 6
reckedhim
Frequent Contributor

Re: How to proceed after settlement?

Anyone?

Message 3 of 6
irrational
Frequent Contributor

Re: How to proceed after settlement?

I'd wait 30-60 days and see how it reports then.

 

If it's still reporting you'd GW the CA.

Current Score: TU (discover) 720 - 6/29/14 | EQ (score watch) 777 - 7/19/14 - Last App 7/21/14

NPSL          |      $27,600         |      $15,000      |      $7,000      |     $2,800     |      $11,000    |      $13,530      |      $5,200
Message 4 of 6
reckedhim
Frequent Contributor

Re: How to proceed after settlement?

Thanks for the advice.  I guess I'll just wait it out.  It seems so far away though.

Message 5 of 6
RobertEG
Legendary Contributor

Re: How to proceed after settlement?

If requesting deletion of reporting, the request should go to the party who reported.

 

If deletion of reporting made by the OC is sought, the request goes to them.

If deletion of the collection is sought, it would go to the debt collector.

The reporting provided appears to be a mix of both OC account history and a collection.

You may have to send separate GW requests to each.

 

The law firm was most likely involved in only the legal action. 

I would send a GW request directly to the debt collector.

Message 6 of 6
Advertiser Disclosure: The offers that appear on this site are from third party advertisers from whom FICO receives compensation.