I recently received a notice from a collection agency from my last apartment. When I called they stated that we can setup a 3-month plan to pay it off. Which was fine. But the person turned around and said that we cannot guarantee that this collection will not be reported to the credit bureaus. Then I asked what is the purpose of me paying off the debt if it's still going to be reported. She didn't have an answer.
My question is if I'm paying on time each month to PAYOFF the debt and on time. Could they really still report the amount to the credit bureaus?
2007-02-11 11:18:25 · 9 answers · asked by pantheress559 2 in Business & Finance ➔ Credit
Currently this debt ISN'T on my credit report.
2007-02-11 11:26:02 · update #1
I've posted this answer a number of times.
You already are on the right track...never trust a collection agent. They will tell you anything to get the money.
Yes, your account has already been reported to the credit bureau.
No, normally they will not remove this debt after it's paid.
Yes, they can remove it. But you need to get this IN WRITING before you pay them a dime.
If you look through the past answers here on Yahoo, you will see dozens of people who have already fallen into this trap, and now are stuck with their credit trashed, even though they paid their debts.
Use your head! Cover yourself and get the agreement in writing.
2007-02-11 12:13:05 · answer #1 · answered by Anonymous · 0⤊ 0⤋
Yes it can be reported by your apartment complex that the debt had to go to collections before payment was made. The collection agency can show that you paid for the debt. But it is a good thing you are making payments. If you didn't pay it off, it would show as a "charge off" and that is MUCH worse
2007-02-11 19:39:32 · answer #2 · answered by Melissa S 2 · 0⤊ 0⤋
The original creditor can report the account as delinquent. They can also report that it was sold to a collection agency.
Since the clooection agency now 'owns" the debt, they would not be the ones to report the delinquent account.
Collection agencies have a great number of legal restrictions that you may be able to use to your advantage. (shooting them is still illegal though) Look up the 'fair credit collections act'.
2007-02-11 19:43:34 · answer #3 · answered by afreshpath_admin 6 · 0⤊ 0⤋
Yes because it's not the Collection Agency that will send the report. Your old landlord is the one that will report you. Now the collection agency can let them know that you are paying and they can recommend that it not go on your credit report, but the final say-so is with your old landlord.
2007-02-11 19:29:16 · answer #4 · answered by 2Negative 6 · 0⤊ 0⤋
The fact that it was sent to collections means that it's almost certainly on your credit report already. The way to have avoided that would have been to set up an arrangement with your former landlord so it wouldn't have gone to collections. A bit late for that now, though.
2007-02-11 19:23:24 · answer #5 · answered by Bostonian In MO 7 · 0⤊ 1⤋
I don't believe the collection agency can report in this circumstance if you requested this in writing. You will then need to send a letter to all three reporting agencies if they did.
2007-02-11 19:25:26 · answer #6 · answered by St.Jeb 4 · 0⤊ 0⤋
YES, they can do that.....the best way to go about this (in my opinion), is to speak to the SUPERVISOR and get it in writing, that, in fact, it won't show up on your credit report, if you pay as agreed.
2007-02-11 19:29:00 · answer #7 · answered by rocketgirl 3 · 0⤊ 0⤋
I suspect that not only can they, but they already have.
2007-02-11 19:50:10 · answer #8 · answered by Anonymous · 0⤊ 0⤋
yes unfortunately they can.
2007-02-11 19:35:45 · answer #9 · answered by mosrider2002 4 · 0⤊ 0⤋