I had an account that I agreed to a settlement on & I paid it. It has been reported on all CR as an "R9" with the notation of "settlement accepted on this account". I recently sent a nutcase letter to the OC, stating I was harrassed into payment before I knew my rights, I was not even sure if the account was mine & I had no idea what a "settlement accepted on this account" would mean to me, if it was mine & reported. I received a letter yesterday that said: "This letter is to confirm that the balance on your XXX account is paid in full. We have reported your account as 'Paid Profit and Loss' to all three national credit bureaus. If you should need additional information, please contact the appropriate credit bureau directly". Is the "Paid Profit & Loss" better than a "Settlement" or is it just as bad? Do I have a chance now to get it completely removed?
A paid profit and loss is the same as a paid charge off. It sucks and you need to dispute it to try and get it deleted.
I was you about 5 months ago. I sent in simple disputes and got it deleted on all my reports - actually I verbally harassed a poor EXP lady. Sure, I was a little lucky, but I'll take it. You get what you settle for.
