I have this stupid collection on my credit report from DirecTV which I refuse to pay and battle with constantly. This is literally the only thing wrong with my credit report and I don't want this to screw it up.
I used to be a mortgage broker, so I know how credit reports are graded for the most part, but the majority of the time that I saw collections on someones credit, there were many other late payments to follow. Any ideas?
2007-06-18 08:00:47 · 4 answers · asked by Reens 3 in Business & Finance ➔ Credit
A collection account is almost the worst thing that can appear on your credit report. The only things worse are Repo's and Bankruptcies. One collection could knock a score down 40 or more points, even if the rest of the report is perfect.
Not knowing how much it is for or the exact situation. If it is a dispute where the account is actually not yours you need to send them a validation letter requiring proof that it is yours. If after 30 days they do not provide that you then can send a request to the Credit Reporting Companies to have it removed. This should be pretty straight forward as it would have been at an address that you never lived at.
If it is just a dispute where you did not like the service or something like an early cancellation fee. If it was within their rights according to the contract it might be better for you to work with them. You could negociate with them to remove the collection account if you pay off the account. If it is charges you are sure were not allowed in the contract you would again have to dispute it with DirecTV and if you don't get satisfaction you may have to file a Small Claims Case against them.
The key here is to do everything in writting by certified mail with Return Receipt. This is so you have a paper trail of all of the actions you took.
2007-06-18 08:13:53 · answer #1 · answered by OC1999 7 · 1⤊ 0⤋
Well, if you really want the debt to go away, pay the collection and be done with it.
It's not doing you any good to just let it sit there on your report...as a lender, you know how bad open collections look.
My advice is to pay it, get a receipt/letter stating that it's been paid for your records and you don't have to worry about it ever again.
2007-06-18 08:06:06 · answer #2 · answered by YSIC 7 · 0⤊ 0⤋
Write dispute letters to the credit bureaus that are reporting it and write validation letters to DirecTV.
2007-06-18 16:42:20 · answer #3 · answered by Anonymous · 1⤊ 0⤋
You have the right to list the collection as disputed with the cr bureau. Explain the reason for the dispute and let your credit stand for itself.
2007-06-18 08:04:26 · answer #4 · answered by wizjp 7 · 2⤊ 0⤋