If I don't think I made late payments or have a valid excuse for making a late payment will a collection agency work with me to remove that from my credit report or is that just wishful thinking?
2007-08-31 14:19:06 · 6 answers · asked by Antonio 2 in Business & Finance ➔ Credit
you're talking to the WRONG people.
you need to talk to the original creditor not the collection agency.
the original creditor reports on time payments or late payments etc....
the collection only tries to get the account paid off.
you can only try to REMOVE a collection....
no matter how you look at it....you cant sugarcoat a collection item on your credit report.
send them a debt validation letter....and you can still dispute the original creditor on the account
2007-08-31 14:46:28 · answer #1 · answered by Anonymous · 0⤊ 0⤋
If you have a late payment on your credit report regardless of who put it there or how it got there you need to dispute the late payment through the credit reporting agencies.
The late payment history was reported by the original creditor not the collection ageny. I would recommend that you dispute the account as "not my account" initailly then follow up with specific sections on the FCRA to further press a full investigation of the late payment record.
In many cases the documentation that is required to be in the file for it to be reported is misplaced or even lost in the transfering of the account to the collection agency. I some cases the account will be totally removed from the report.
Mark Bustamonte
Certified Credit Counsultant
United Credit Education Services
http://www.unitedcredited.com
2007-08-31 14:59:43 · answer #2 · answered by mbustamonteicr 1 · 0⤊ 0⤋
Wishful thinking. Creditors don't accept valid excuses. Either you were late or you weren't. The time to dispute or get a late removed, would have been right after it happened.
If you are negotiating settlement of a bad debt with a collection agency, you can try to get them to agree to removal of the negative but don't count on it. You definitely want to get the settlement agreement in writing and don't give them access to your bank account.
2007-08-31 14:29:45 · answer #3 · answered by bdancer222 7 · 0⤊ 1⤋
If it is the collection agency that is reporting the account as late - that is a FCRA violation.
Collectors CANNOT report a collection account as being late.
If they are, dispute it.
If it is the original creditor that is reporting the late, you can try to dispute it with the CRA's. But the collector cannot do a thing about it. One data furnisher cannot make ANY changes to another data furnishers information on your reports.
2007-08-31 19:09:11 · answer #4 · answered by echo 7 · 2⤊ 0⤋
A credit bureau will not remove accurate negative information from your credit report before the legal time period has expired. Therefore, do not believe anyone who claims they can get negative information removed from your credit report faster than is legally required.
There are no "loopholes" or laws that credit repair companies can use to get correct information off your credit report.
2007-09-01 07:35:16 · answer #5 · answered by twv23512655 2 · 0⤊ 0⤋
They can correct their mistake:
IF you can communicate with a supervisor for the collection agency.
IF you can convince them (or the original creditor)
you paid as agreed.
OR
IF you negotiate a settlement and can get that as part of the settlement agreement .... In writing is better than just a verbal.
2007-08-31 14:58:02 · answer #6 · answered by Jeff H 5 · 0⤊ 0⤋