I settled with a collection agency and now I need to get it off my credit report. They stated they will report to credit agencies I am 'current' and when they receive the full amount, I will have documentation to send to the credit agencies to have to collection removed from my credit report. What do I need to send the 3 credit agencies so they remove all notices of collection from my report? It is very vital as without it, I can't secure a student loan.
Well, to begin a collection account cannot legally report a past due balance. The fact that it is a collection means that it is a closed account. This is not to say that they don't but, they're not supposed to. With that said, I don't see how the can report the account as current. I'll presume that this is a collection agency or an internal collection department which is collecting on the behalf of a credit card issuer. In any event, if they give you documentation that the account is simply paid, that won't get it off your report. I would suggest disputing it with the credit reporting agencies.
It's for a medical bill from another collection agency. So the lady on the phone lied to me and it won't come off my credit report?
Probably, at least from what you're saying. Just giving you something saying it's paid isn't going to suffice. If she gives you something that says that the original creditor submitted it to their agency in error, that may work. However, she needs to be the one to submit that to the credit reporting agencies. It is not uncommon for collection agencies to lie.
The collection agency is just going to "report" that you've paid the bill. If you want to have it off your credit reports, then you need to request a "pay for deletion". Offer to pay in full for removal from your credit reports, get their agreement in writing before paying!
I can't afford to pay it in full. Is there anything else I can do as I haven't sent them the money yet?
