i want to dispute an account that is in collections that is actually my account and i've made payments on. how can i do this? can i get in trouble for disputing that i never had the account if i really did?
2007-01-04 12:04:27 · 3 answers · asked by ***I Love Anara*** 2 in Business & Finance ➔ Credit
You can dispute it. That is a fact. However, it will do you no good. If the account is yours, it will take the credit bureau very little time to correlate the account as yours. It is a waste of time.
Not to be cruel, but you are better off spending your time focusing on earning more income to pay your debts than trying to beat the system.
Best of luck.
2007-01-04 12:15:03 · answer #1 · answered by David 3 · 1⤊ 0⤋
I would recommend against it. If you dispute it, and the collection has not been previously been paid in full, you will remind the company of your debt and re-enforce their thinking that you are not going to finish paying. (The bureau has to verify the debt and will be contacting the creditor about it.) They could end up listing the account as a charge-off (which is worse) or take you to court. Either way (you paid or didn't pay in full), the collection will hurt your score slightly if you dispute it, because their report date (not the opened date) on the account will be updated with the date they answer the bureau. It won't affect the date the collection comes off your report, but it will make the debt look more recent than it is. (Newer accounts hurt your score more than past accounts since they want to see the most recent activity.)
2007-01-04 13:07:09 · answer #2 · answered by Mariposa 7 · 1⤊ 0⤋
you could be charged with telling lies or fraud.
Own up to it and pay it off. Thats the best way.
Good luck
2007-01-04 12:08:53 · answer #3 · answered by Anonymous · 0⤊ 0⤋