settling on an old debt

[mamiof2nuts]

I would like to know if a collection company can refuse to post the settlement payment i Made with them because i used my debit card instead of sending a money gram. I want this debt cleared or marked as paid from my credit report but was told by the collection company after i made my payment that it would not reflect on my credit report for 2 months. The money is out of my account and in theirs. please help.

[willingtocope]

Sorry...the number one rule of dealing with a CA or JDB is that if it isn't in writing, it didn't happen. You can try disputing with the credit reporting agencies as "inaccurate balance", but it will take 30 days or so for them to investigate, assuming the CA even bothers to respond.

You do know, don't you, that having a paid collection on your reports is going to hurt as much as having the un-paid collection there.

[bigjohnstud4200]

Sorry...the number one rule of dealing with a CA or JDB is that if it isn't in writing, it didn't happen. You can try disputing with the credit reporting agencies as "inaccurate balance", but it will take 30 days or so for them to investigate, assuming the CA even bothers to respond.

You do know, don't you, that having a paid collection on your reports is going to hurt as much as having the un-paid collection there.

[elyse449]

Well, I'd dispute it with the three credit bureau's as "paid" and go from there--see what happens. I did that after paying one of mine and it reported back as "paid" and -0- balance.

Also, if this was a relatively newer collection-you shouldn't see much of a dip in your FICO. If it wasn't, than you may--but with good credit building to counter-act that, you should see improvements in the months to follow. And it does SUCK that it hurts our credit to pay a debt, that isn't the way things should be...

Elyse