Paid Collections question

[Randysbarb]

If I pay a collection (I know it's mine and I want to "make things right"), can a collection agency change the DOLA to the paid date thus increasing the time it shows on my credit report?

I know this is kind of winded but I really need to know this as soon as possible. Thanks guys for all your help.

[jam]

DoLA is based on the OC's last activity status, before charge-off.

Otherwise, its re-aging, a no-no...

[Randysbarb]

Thanks Jam I really appreciate the info. Now one more question if possible....I have a capital one acct that is showing as charged off on my credit report. I have been contacted by a CA trying to collect but they aren't even showing up. If I pay the CA, will capital one list as a paid collection or can the CA also list as paid? The CA has offered a 50% settlement and I would love to clear the debt up, but I don't want another collection account listed on my report.

[Da_Bill_Collector]

"If I pay the CA, will capital one list as a paid collection or can the CA also list as paid? The CA has offered a 50% settlement and I would love to clear the debt up, but I don't want another collection account listed on my report."

As long as you can get 50% settlement letter from CA before you make

a payment, you should be fine. I do this all the time with my debtors

before accepting payments. Our agency doesn't purchase debts.

CA can list collection account only if they purchased the debt. In that

case, yes the account will be listed twice unfortunately. Only recourse

would be to dispute it after couple of months & hope it would be taken

off from your credit report.