I "settled" with a collection agency on Tues 12/1 for about 50% (more than half was interest and fees anyway). They said they'd be sending me some official documents that I could use with the CRAs to change the notations on the credit agency reports to "settled". They said they'd also send this info to the credit agency but that would take longer than if I did it myself. Given that the CRA listing is now inaccurate in that I "settled" should I contest the accuracy of the existing statement, or should I just submit the documents that the collection agency will provide? What are my chances that the former would result in a deletion of the record?
If you submit that letter to the CRA's your chances of getting it deleted are next to 0 (zero). When you deal with a CA (which I don't advise) you always settle for a deletion, not a settled notation on your credit reports. Paid collections on your reports are just as bad as unpaid ones (unless you are getting a house).
So should I contest the existing CRA entry as being inaccurate since I did settle out the account, and not use the letter from the collection agency?? Or just be resigned to the fact that it will be unavoidably posted as a settled account?
Have you disputed this item before?If not I would dispute it as not mine. If you have I would dispute as being inaccurate. See the problem comes in when they get proof it belongs to you. The CA may not verify it (since they have been payed).
