collections versus credit report?

Question

Do I go by whats in my 3 in 1 report or the collection notices that I get. Some of these collections have more than tripled in int. alone.

Answer 1

Ok here is the deal. Call the bill collector and tell them to provide you with a copy of the invoice. Pay the amount of the invoice and do not pay the interest. Tell them that you refuse to pay.

No big deal. It will be done. Believe me....they are not going to sue you on interest. The courts wont have it.

Thats all you have to do. There is no need to file a dispute here there and everywhere and lose your mind over it.

Do not dispute the validity of the actual debt, disputing the blance is another thing. The actual debt itself can cause problems as the collector has docs with your signiture and copies of checks you used to make previous payments. That will just piss them off and make them sue you and than they really will be awarded fees and interest.

You dont have to pay the fees and interest if it hasnt been awarded to them through a judgment. But if it has been than thats that. You would need to pay it.

Good Luck

Answer 2

I'm going thru it now and the info on the notices you get is going to be the most accurate for account balances. HOWEVER... I've been checking with my credit records/reports, and alot... ALOT of the bills that I have paid off from several years have not... NOT been removed from my credit report OR have not been shown as having been paid off. KEEP ALL RECORDS and have the creditors/collectors send you a zero balance letter showing that you've paid them off. You can use these to combat the credit dispute resolution process. I paid off about 45K over the past five years and thought I was done till the credit reports came back with 8 items still "outstanding". Upon reviewing them, seven were paid off, and one of them couldn't track me down. So today, I'm paying that one, and mailing off letters to the credit agencies with copies of the zero balance/no payment owing that I got from the other seven debtors and had thoughtfully filed away for a rainy day such as this. Hope that helps bubba.

Answer 3

I agree with what Studly said, never believe the amounts the collectors "claim" you owe.

I just wanted to add - you should really request a hard copy of your reports from each individual CRA. The 3in1's are not always accurate.

Also, since the amount seems to have tripled - these are fairly old debts?
You may want to click on my profile and click on the link to find the collecting SOL in your state.
If you are past the collecting SOL the collector can still try to collect but legally cannot sue.

You might also click on some of the other links I have listed in my profile - to the FDCPA, FCRA, etc. Learn your rights. And you might click on the last link I have listed to learn how to use your rights.

Answer 4

Lemme tell you a secret......

Credit report information comes from the collection agencies.

Collection agencies are terrible liars! So why would you believe that the amount they claim is accurate?

I'm working with someone right now on their credit problems. Collection agency #1 sent a notice for $6200. We demanded validation. Then it was sent to Collection agency #2....and the balance magically dropped to $5300. Sent out another demand to validate...no word after two months. Gosh, you don't supposed........?

The VERY FIRST THING you do when a collection agent sends you a letter is dispute it and demand validation!! That is your right under the Fair Debt Collections Act.

Answer 5

Well, eventually the the data in those collection notices *will* be in your credit reports. U need to resolve those collections.

Answer 6

Eventually they will all show up in your credit report. But notices will come to you quicker and give you more time to pay them off...

Answer 7

The notices will be the most accurate statement of the account balances with interest, penalty and any ancillary charges.