Hi,
I recently settled with a debt collection law firm Patenaud and Felix from an old Synchrony charge off. The original creditor Synchrony is whats on my credit reports.
What happens now that it's settled with the law firm? Has anyone been down this road?
Is there a way to get the original account removed?
Charge offs are next to imposible to get removed. Since its paid it should show a $0 balance if Sync owned it. If it was $0 balance all along. They sold it to the collection agency. Not much to do now. Time will ding less. Least its paid and no more monthly updates.
Only thing you can do is begin a goodwill letter campaign asking that the CO be removed. As stated OCs are pretty hard to get removed but it doesnt mean you dont try. Good luck 
@FireMedic1 wrote:Charge offs are next to imposible to get removed. Since its paid it should show a $0 balance if Sync owned it. If it was $0 balance all along. They sold it to the collection agency. Not much to do now. Time will ding less. Least its paid and no more monthly updates.
Looking at my credit report, Synchrony still had the balance listed, does that mean it was never sold? Does it change the situation? How long do they legally have to report the update before I can investigate with the burearus and hopefully have removed?
If synchrony is still showing the full amount, the debt collector was probably acting on their behalf. Either way, they have to update the balance to zero now that it’s paid. I’m not sure on the timeline for this, but it shouldn’t take more than 30 days since you paid off the debt to update the bureaus.
Goal Scores: 700 across all three
@BmoreBull wrote:
If synchrony is still showing the full amount, the debt collector was probably acting on their behalf. Either way, they have to update the balance to zero now that it’s paid. I’m not sure on the timeline for this, but it shouldn’t take more than 30 days since you paid off the debt to update the bureaus.
Typically they update at the next normal scheduled monthly reporting period.