credit approval question

Discussion in 'Credit Talk' started by confused, Jan 5, 2001.

  1. confused

    confused Guest

    Question. I had heard that the feds were going to impose more laxed rules about credit. I am the one who posted about having a collection on my account in the amount of a whopping $1 (dollar) and the agent won't remove it even if I pay it. It is doing major damage to my profile. I have 16 accounts in good standing, never late, yet this dollar keeps me from decent credit cards with good apr and the like.

    GEORGE Well-Known Member

    I'm amazed that you have trouble with it...other creditors probably see the $1.00 collection and LAUGH...NOT AT YOU, BUT THE IDIOT THAT PUT IT THERE!!!

  3. confused

    confused Guest

    Exactly! I even tried to convince them of that and they won't take it off. I'm stuck with that bull for 7 years and the interest isn't even worth billing me for it. I would gladly pay it if they'd take it off but they won't.
  4. mt

    mt Guest

    Just reading your post made me very angry. Get real. $1? That is just too stupid for comment. I'm curious who put it on your report? I just rec'd an updated TransUnion report that has a collection on it for $12, from of all places, Sprint. I've no idea what it is for, but it makes me mad because it was just posted recently and I know that I've never been contacted about $12, I would remember. GRRRR
  5. marvin

    marvin Well-Known Member

    While we're on the subject of rediculious collections, and such, I have a judgement on my report for a lowsy $60. No if I knew someone was taking me to court for 60 stinking dollars, don't you think I would of paid it before it got to court?
  6. Eugene

    Eugene Guest

    Confused, you can try to remove this entry from your report. If it is some kind of mistake, CRAs are required by law to remove it. If it is not, then I think you should send them the payment - paid collection account is better than unpaid. I am really sorry that it will stay on your report for 7 years in this case.

    As for the amount, it does not matter. The creditor probably wants to punish you even if they know that their cost is higher than the amount of debt. You would probably send the same message to the person who did not pay you back.

  7. LKH

    LKH Well-Known Member

    First off, I seriously doubt that many people would f*(%up someones report over $1. Secondly, I have read numerous times here and other boards, that a paid collection or charge off is no better than an unpaid one, as far as your credit report and score is concerned.

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