I am having trouble with a creditor. I paid off the balance and they wont take it of my credit report.?

Question

They say its not their policy. And it stays there on your credit report for 7 to 10 years. Is there a way to get it off your credit report or am I just stuck with it for 7 to 10 years

Answer 1

That's why it's best to get the creditor to agree (in writing) that the debt will be removed from your report BEFORE you pay it. I guess you're stuck, but it should say that it was paid in full. You may want to dispute the item and explain what happened in your rebuttal. The item will most likely remain there, but at least you'll be able to show your side of the story.

Answer 2

I agree with Sarah, always request removal before payment.

If this was a credit card, it will remain on your reports for 7 years from the first time you became late and never brought the account current leading to the charge off (with the original creditor)
If it was a loan, it will remain for 7 years from the time of default.
If it was a medical bill it will remain for 7 years from the day of service (when you saw the doc.)

Accounts "cannot" legally be re-aged on your credit reports !!!

Look to see how they are reporting. If they are reporting inaccurately - dispute it.

You might click on my profile and do some reading in the links I've listed for the FCRA etc.

Learn your rights and learn how to use them.

Answer 3

You can try disputing it through the credit bureau, but here's how that works:
The dispute is sent to the company that owns the disputed account.
They have a set time (about 30 days) to respond to the claim. If they do nothing, it can be deleted from your report.
However, they can update it with the most current info, or they can delete it, or they can send it back as correct.
If the debt is legitimate, you have no real recourse for getting it removed from your credit report.
And keep in mind that the dispute goes to the company who said they won't remove it, so you may be out of luck.

Answer 4

Any transaction with a creditor, even a "fully paid" label, will stay on a credit report for up to 7 years.

Answer 5

Probably true but try this...

dispute it with the credit reporting agency (trw) (equifax). It's worth a try.

Answer 6

their policy does not supercede state/federal laws. if its inaccurate, it has to be fixed.

if its accurate, it stays for 7 years. if they dont remove it (common problem), then you will have to address it.

these will explain it:

CREDIT REPORT INFO / REPAIRS
http://www.kiplinger.com/columns/starting/archive/2007/st0221.htm

http://www.bankrate.com/brm/news/cc/20040116b1.asp

https://www.annualcreditreport.com/cra/helpfaq

http://www.bankrate.com/brm/news/forms/credit-report-error-fix.asp

http://www.bankrate.com/brm/news/bankruptcy/20070313_credit_report_stains_a1.asp

http://www.bankrate.com/brm/news/forms/credit-report-error-fix.txt