PAID - Bad Debt Collection - Help!

[tiff]

I need some help with this one guys!

This account has haunted me for some time now.  I have written several good will letters to the original creditor (who owns the account), and nothing has worked thus far.

I'm now wondering how much of a drag it's having n my score????

The Account Status reads "Bad Debt Collection" although it was settled for 95% of the amount owed.  They never updated the account status.  The description field reads settled account/ charge off.

Last status date was Mar 2008 - Account was settled in May 2006 - They were still updated it monthly.

DOFD = 3/2004 - It's schedule to remain until 10/2011.

Is this account having a negative impact on my score?  It's been paid for sometime now, but still reads Bad Debt collection.

[Anonymous]

this account is certainly having a drag on your scores, as collection and settled are read by Fico as derogatory marks to lower scores for the whole 7 years.

from what you are stating, it would appear the OC is actually reporting mostly correct information, but there is no way to know for sure unless you can post the whole records of this tradeline from all the CRAs.

IF some fields in the records are not reported correctly, you might dispute with the OC and perhaps, if there is a FCRA violation, threaten to sue and settle for removal.