Hope all is well! I had a debt that was for a phone bill. The original balance on the collection was $359. They got me to pay $200, and it was considered settled legally for less than full balance. This was over two yrs ago, and I pretty much knew nothing about credit at that time. I figured everything was over. Fast forward to yesterday. I pulled my credit, and here is a new CA on my report, along with the old CA. It says the original creditor is the same phone company as the original CA was collecting for. The interesting thing is that the "original balance" is reporting at $159. The original CA balance was $359 minus $200 (that I paid to original CA) = $159 (the amount the new CA is reporting due). Now, I havent received anything from the new CA yet, but they just started reporting to my credit yesterday. The old CA is reporting to my credit as "paid". The new CA is also reporting, but all of the information (account number, date opened, balance, etc) is all wrong. Should I send a DV letter to the new CA and let them know that I have not received anything from them, and that this should be considered first communication, or send a dispute to the CRAs?
You got this "legal settlement" in writing? If not, then regardless of what they told you over the phone (which you probably didn't record, right?), whatever you paid them was just a down payment on your debt to them (and a bonus for the collection agent). Don't feel bad if this is what's happened. You're in good company. This confirms what I suspected above. Bummer. Somewhere, I posted the process, but: Yes, you want to dispute this with the new CA first (CMRRR). Then, you want to check your credit and dispute both tradelines (wait for the green postcard or check on line to make sure they signed for the letter) The first one should go away because only one CA can collect (and report) at a time. The second one should go away until they verify the debt (if they verify the debt, that is).
