There is a negative item on my credit report from a collection agency for less than $50. Circumstances surrounding it are bogus (short explanation: don't let a checking account go dormant with Wachovia), but after the debt was bought by a second agency I sent them a check for the 20% discounted price they asked for. Saving $10 is now costing me my credit score. Is there anyway that I have a good chance of getting this removed even though I have already paid it?
Sorry to hear about your situation. Unfortunately, you lose your leverage to get anything removed once you've already paid up. It really is a shame to deal with something like this over less than $50, but it sounds like what the CA is reporting is the truth. Anyway, if you can find any incorrect or missing information related to the negative mark, dispute it through the CRAs and hope for the best. If that doesn't work, you can always try going directly through the CA, but keep in mind that they have no incentive or obligation to remove the paid collection from your reports.
Thanks for replying. The age the collection agency is using is a year later than the day Wachovia and the first collection agency has. Therefore, I think I might have an avenue to challenge.
