I went today and payed a medical collection to the original creditor. The orignal creditor signed a statement saying that they will take it out of collections and that I had no knowledge of any unpaid bills to the account because they sent all information regarding this account to an incorrect address. Will this collection be removed from my credit report entirely? or will it say paid in full? Is there anything elese I can do to get this removed?
2007-02-20 04:16:01 · 4 answers · asked by candychick 2 in Business & Finance ➔ Credit
In most cases the answer depends entirely on what the creditor wants to do, but since you have a signed statement to the effect, your chances are good to excellent.
I would advice you give it some time, up to 90 days, for the process to complete and take effect first.
If, after 2-3 months you do not see a change on your credit record, the process is thus:
Request a Dispute of Information form (I think that's what it's called) from the Credit Bureau which still holds the derogatory record. You may have to do this for all three, or just one or the other that has said derogatory mark.
Once you get the form(s), fill it out as best you can, enclose a copy of the signed statement (you be sure to keep the original), and send it to them. Once they receive the filled out form along with the copy, changes should take effect, but again you have to give it 2-3 months to be sure (sometimes it goes a lot faster, but not always).
Peace
2007-02-20 04:22:36 · answer #1 · answered by netthiefx 5 · 1⤊ 0⤋
Many creditors will remove the collection entry if it is a mistake as you suggested. Be professional when you ask them to do so and get it in writing. Many creditors report once a month. They do have the ability to "Bullseye" the entry which allows for an expedient removal.
Getting the written confirmation from the creditor allows you to send it to the credit bureau with a dispute in the event the creditor does not remove it on their own. Making demands and threats will not help your cause.
2007-02-20 04:29:39 · answer #2 · answered by John B 1 · 0⤊ 0⤋
You can contact the credit reporting agencies and file a dispute. Send them all the information and ask that it be removed. The credit reporting agency will contact the hospital. If the hospital tell them that it is no longer in collections and it was placed there by mistake it should be removed or if the hospital doesn't respond in a reasonable amount of time it will be removed.
2007-02-20 04:23:57 · answer #3 · answered by blah1977 3 · 0⤊ 0⤋
You have to do to collectors what they do to you. You have to call them a lot to make sure that gets taken care of. If you have that letter tell them you will take legal action if the account is not taken from your Credit report.Good luck
2007-02-20 04:22:23 · answer #4 · answered by 4walls 2 · 1⤊ 0⤋