I have a question if a collection agency is reporting for a account that is now a collections and I go back to the orginal creditor of the acct and pay the amount and bring the acct up to status. Does the collection agency still have the right to report it or does it have to be removed for credit report???
Who you pay depends on who is the owner of the debt. If the debt was sold to the CA and you send a payment to the OC, they may send it back and tell you to contact the CA. If both the CA and the OC are reporting, you can negotiate with the CA for deletion of their TL, but not the OC's TL. If the debt is still owned by the OC but a CA is collecting on the OC's behalf, they probably will accept your payment but only mark the OC and CA tradeline as paid unless you negotiate and get confirmation in writing before sending payment that the OC will alter their TL as well as have the CA remove their TL.
This is a video store acct, so I am thinking maybe that the acct was sold to the collections or they are collecting in the behalf of the orginal creditor because the orginal creditor is not reporting this on my credit report. I can go up there and attempt to pay it there at the video store if they are still in business but I am thinking of disputing it, still debating at the moment.
If the CA won't delete in exchange for payment, I'd had luck going to the OC and having them "tell" the CA to delete in exchange for payment. If the OC agrees and tells the CA to delete, they will...they want to keep the OC's business. Luke
quote: -------------------------------------------------------------------------------- Originally posted by tt00 1*I have a question if a collection agency is reporting for a account that is now a collections and I go back to the orginal creditor of the acct and pay the amount and bring the acct up to status. Does the collection agency still have the right to report it or does it have to be removed for credit report??? -------------------------------------------------------------------------------- 2*If the debt was sold to the CA and you send a payment to the OC, they may send it back and tell you to contact the CA 3*If both the CA and the OC are reporting, you can negotiate with the CA for deletion of their TL, but not the OC's TL. ************************** 1*&2* are good ways to end up paying the debt twice. 3*Not so sure about that! Read this>When we (Re CA) make the purchase or servicing transaction, we receive a power of attorney that gives us the inherit rights under the original cardholder agreement. We have the ability to "bind" the original creditor in certain situations. This gives us the right to settle an account and REQUIRE that the original creditor, such as Citibank, MBNA, Household etc. remove the original trade line and OURS. WestCap =========================== Some one was asiking a while back about getting the oc to delete in addition to The CA. Don't know who the poster was or on what thread they posted but here is your answer!! This gives us the right to settle an account and REQUIRE that the original creditor, such as Citibank, MBNA, Household etc. remove the original trade line and OURS. The END ************************* LB 59
