I recently received a settlement offer from a CA. It was for a Providian. This was a few months ago. I also settled with two other credit cards/CA's around the same time. I have been checking all 3 reports through Privacy Guard since March to make sure the accounts get updated. All settlement amounts were around 50% of total balance. After about a month after payment, all 3 accounts were updated to show the amount I paid AND the balance remaining. I am in the process of disputing all 3 now. I have copies of the settlement offer letters and copies of the cashed checks (with conditional endorsements). Now back to Providian..........It seems that they have updated again. Since I only sent my disputes less than a week ago, I know that they had nothing to do with this update. The new update was listed on the Providian account today on Experian. It stated the account was " legally paid in full for less than full payment." My question is, is this better than a total charge off in terms of the effect on my score?
On your score I doubt it. If it does help it will be minimal. The only way this helps is if someone does a manual review.
Thanks Bigmon, I am in the process of getting it deleted altogether. I had already sent disputes to all CRA's. What should I do if the disputes don't work?
legally paid in full for less than full payment moonpie ===========Paid in full is not less than paid in full The END ************************* LB 59
