Any way to get NCT from reporting “written off” after I did a PFD?
So until this February I had $65k in defaulted private student loans with National Collegeate Trust. I had given up on putting any kind of arrangement together with Weltman, Weinberg and Reis who was the collection agency they had been using —completely rude, grating, and unable to work out any sort of payment plan or reduced lump sum. I was ready to do battle in court if it came to it. I’d been saving money but on the advice of some counsel I’d retained they told me not to send it to them unless they settled or agreed to stop the interest.
Well in January they changed my loans to a different collection agency — Account Receivables Solutions... totally different type of operation... The agent was pleasant to work with, was totally open to making arrangements — considering this was a collection agency, I actually would consider it a “good” experience (I know... unheard of lol).
I negotiated a settlement of just under $30 grand, as a pay for delete, got a letter saying everything was paid and the trade line would be removed from my credit. They even took AmEx with no additional fee — so I paid the bill with my partner’s card (which I’m an authorized user on), then immediately sent the money to AmEx — so we ended up with enough miles for an airline ticket because of it — so feeling pretty good!
So now fast forward a month or two and AR Solutions has held up their end of the bargain — the collections are gone... my credit score shot up from the 550 “poor” range to the 670-680 “good” range. All 3 reports show I have 0 collections — but still have “negative accounts”. I figured I’d try picking one of the better credit cards that Credit Karma says I now have “good” approval odd on... denied because of “recent serious delinquency” on both.
Essentially the issue is that even though I have no collections, NCT is reporting the accounts as “closed, transferred to another lender, $22,000 written off”. I tried disputing this and send them the letter stating once it was paid it would be removed — but they’ve denied me twice and “update” the account — most recently to make it look like it actually happened on the date I paid the agency (making it look even more recent than the 3 years ago it actually happened)!
Does anyone have experience with this? I’ve been told mixed things from “it’s just as bad as having the collection” to “the collection is gone, it’s not counting in your score anymore” and other things in between... I’ve pondered getting credit repair. Now that I have the student loans paid off, I want to buy a house — I’m told I have the credit score for it, but by having these NCT listings still there it can create a “black hole” where my file becomes hard to verify (whatever that means).
Any ideas? I do have credit cards and a car loan that I pay monthly so I have many on time payments.