Paid my debts, now what?

I'd ask the CAs to send you a letter that states that the debts are in fact paid off and nothing further is owed. Then send a dispute letter to the CRAs along with a copy of the letter saying the entries are not being accurately reported and to delete them. They may, and they may just annotate the entries to show they're paid.

You might also want to get a 30-day trial of something like TrueCredit so you can monitor what happens and how it affects your credit score. The dispute should eliminate the entries from your report while they're being validated. That will probably raise your score a bit. (TrueCredit lets you get an updated report every day. But boy they sure do bombard you with junk offers in the process! It's like an obstacle course!)

 

I think you're getting the run around. If Chase sold the account then they are not responsible. However the CA is. You should've ask for PFD when you payed.

CAs can take up to 30 days to respond. Make sure you establish a paper trail of all your dealings with them.

 

What are you going to dispute?

 

Honest answer . . . find someone who knows what they're doing and save yourself some time and frustration.

There's much more to this than many people would have you believe. With that said, you can do this yourself. Then again, you can fix your own toilet, execute a divorce, sell property, etc., the issue is whether you want to learn how to.

 

The FCRA requires that CRA subscribers report accurate information. I'd call them back and say that you're looking for a lawyer to file an FCRA action against them for refusing to report accurately. Also, it's probably part of THEIR agreement with the CRAs. You have no access to the CRAs and the CRAs will only send your disputes back to the CA for verification anyway. So it all comes back to THEM.

It sounds like they're either being lazy or nasty. Read FCRA and see if you can find something that applies there.

Then again, you could go the other way and dispute the inaccurate info with the CRAs and see if they won't just delete the entries, which they're supposed to do.

 

Okay, let's sort this out, and take one thing at a time:

1) The CC company is correct in stating they do not report the account as now "Paid/Settled". The CC company tradeline (on your credit report) should say "$0 Balance, account sold/transferred". If it does not, then dispute the tradeline with the Credit Reporting Agencies (CRAs), as "incomplete and inaccurate, please delete".

2) The Collection Agency (CA) that you've paid, MUST report the account as "Paid/Settled, $0 balance", IF they reported the account/tradeline to the CRAs, and it is on your credit reports.

3) However, since it was only a week ago that you paid these two accounts, you must allow some time for processing and reporting. Give it at least 30 days to report on your credit reports. If you go to court, a judge may allow up to 60 days for reporting.

4) Make sure you get documentation that these two accounts are Paid/Settled. Stay on the Ca until you have these documents. Again, you will have to allow some time for processing, mail, etc.

If the CA has not yet written the letter(s), you may ask them to detail how they will report this to the CRAs now.

5) The CA cannot tell YOU that it is your responsibility to "report" these accounts as "Paid", IF they have already reported to the CRAs. If they have, then they must report the Paid status per law.

So, first get the receipt(s) and documentation for payment/settlement. Make sure the documentation states the matter is closed.

Next, have some patience on the reporting to the CRas, these things do take some time. As stated, it may take up to 60 days to show on your credit reports.

If after 30 days, the Paid status is not reporting, then dispute with the CRAs as "inaccurate and incomplete, please delete". You may get lucky, and they will fall off.