I had an unpaid collection account showing up on my credit report. I was in the middle of trying to get the original creditor to accept payment for deletion, when the collection suddenly disappeared. Two months later, it is still gone, although we never came to any agreement. 1. Any idea why this happened? 2. Will it likely come back? I am just concerned that it will reappear just as magically as it disappeared. If it does, do they have to inform me or anything? How long do I hold my breath waiting for it to reappear? Thanks!
Nope, I never disputed it. I went straight to the OC to discuss removal for payment, which they never accepted, or even discussed with me.
Could it be that you hit the magical 7-year mark? If that's the case, it'd re-appear whenever you make any transaction that involves an amount > 150000 (mortgage, for example), or apply for job paying > 75,000. Keep the copies of the reports one showing the tradeline, and then not showing it, in case if it ever does re-appear. If it did not disappear due to the 7-year clock, if that tradeline gets re-inserted, they should provide what is called "certification" that the information is accurate. It's your right to demand this certification should it reappear, and a violation of FCRA if no such certification exists, and you have a valid suit against the CRA
We're nowhere close to the magical 7-year mark, which is why I was pursuing payment for deletion. I didn't dispute it through the CRA because I thought payment was my best leverage. So, it sounds as though I am holding my breath for 6 more years, since reinsertion rules may not apply here? That's what I was afraid of...Plus, I don't really want to do anything to make it permanently go away since anything I do now would just rock the boat. Thanks again!
Re: Re: Re: Can it come back? I'm not lakpr, but if you read the FCRA, it has a section discussing the 7 year rule, but mentions that for loans over 150K, or jobs over 75K a year, they 7 yr doesn't apply.
Re: Re: Can it come back? JLynn, You are correct; FCRA talks about certification of reinserted material only in the context of consumer dispute. Went back and verified it. That said, if the tradeline reappears, and if it has been a substantial time by then (say 1 year or more), why not have the OP demand certification (posing as an uninformed consumer), while carefully omitting any reference to a consumer dispute in their letter, to see why it was reinserted? It'd be then up to the CRA to prove that the consumer did not dispute ... yes? If the CRA can't provide proof that the consumer did not dispute, and neither can they provide certification, they must delete ... yes?
