Settled (PFD) Collection Balance Updated But Not Deleted

[salad_mounts24]

So I settled a collection and got it in writing that they would PFD, but my credit report updated showing the balance that I paid instead of the collection being deleted. Payment was received by them on August 4th and my report updated on the 10th showing said balance. The CA is Source Receivables Management. If anyone has experience with them then I would highly appreciate your input.

[FireMedic1]

Read the letter carefully. If it is saying PFD. You can dispute and send a copy of that said letter. CA will do all kinds of funny ways to get you to pay. If that doesnt work file a complaint with the CFPB. Welcome to the forums!

[RSX]

i have seen some companies that take 2 months to fully report

month 1 - they change the amount to $0

month 2 - they delete the line from your credit report

you can dispute it as noted above - or just wait 30-45 days and see if it drops off

[sznthescore]

@salad_mounts24 Typically, the balance updates first, then the following month or two it will be removed/deleted. I went through this scenario with a few different CAs, I'm assuming this is how they do it. Give it about 30 days from last update.

[bakenshake]

did you really think it would be removed in 6 days?  instead of checking every **bleep** day to see if they removed it, just check it in 90 days and you will be happy.  otherwise you will be sad every **bleep** day that you check it and who wants to be sad every **bleep** day? capiche?

[bjaminkelley88]

I guess it depends on the agency. I wrote a GW letter to the agency who owned the only collections I've ever had (I paid and settled it 2 years  ago but still sat on my report as paid but still looked bad) on September 7th and woke up today to a notification from CK that it had been removed from my report. I never got a response from them as well. The agency was NBCI.