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Should I contact CA to update record?


susan368
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I have one collection on my CR since 2005 and I just paid the whole thing off. I am in the process of buying a house and I know the mortgage company will look at he last two years of my credit history. The collection still shows as unpaid on my CR. Should I just show the proof of payment to the Mortgage company and not worry about it being on my credit report? If I contact the CA and tell them to update my CR showing that this is paid in full will that make things worse and lowering my credit score because it will make everything more recent?

Also will that reset the SOL?

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I have one collection on my CR since 2005 and I just paid the whole thing off. I am in the process of buying a house and I know the mortgage company will look at he last two years of my credit history. The collection still shows as unpaid on my CR.

You PAID the collection....when?

Should I just show the proof of payment to the Mortgage company and not worry about it being on my credit report? If I contact the CA and tell them to update my CR showing that this is paid in full will that make things worse and lowering my credit score because it will make everything more recent?

Most Likely. But depending on how long ago you paid the collection, you can dispute it with the CRAs as "not mine"...the CA may not have records anymore.....why would they keep records on a paid collection?? I would do that ONLY if showing the proof of payment to your mortgage people is not enough.

Also will that reset the SOL?

If it's been paid off.....you don't need to worry about SOL. If it is paid but NOT in full, in some states it will reset the SOL. By SOL I'm assuming you mean the "statute of limitations" and not the 7 year reporting period, which is completely different right? The 7 year reporting period WILL NOT be affected.

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I have one collection on my CR since 2005 and I just paid the whole thing off. I am in the process of buying a house and I know the mortgage company will look at he last two years of my credit history. The collection still shows as unpaid on my CR. Should I just show the proof of payment to the Mortgage company and not worry about it being on my credit report? If I contact the CA and tell them to update my CR showing that this is paid in full will that make things worse and lowering my credit score because it will make everything more recent?

Also will that reset the SOL?

No need to worry about SOL; it's paid! Nothing will restart the 7 yr credit reporting period. If you paid it and the CA has not updated, try disputing with the CRA as paid. The CA might not even bother to respond and you could end up with an easy detetion.

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One thing I forgot to add, I paid the whole amount off to the collection Attorney not directly to the CA.

Amerikaner, I paid it off in April 07, so very recent. I am sure the CA still has my records. Should I wait a few months before disputing with CRA?

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One thing I forgot to add, I paid the whole amount off to the collection Attorney not directly to the CA.

Amerikaner, I paid it off in April 07, so very recent. I am sure the CA still has my records. Should I wait a few months before disputing with CRA?

i would see if your mortgage company will accept the documentation you have of payment. If you dispute with the CRAs and the CA updates to PAID collection, your score will drop - due to recent negativity. It's probably better for your score as it is now....due to its age (as illogical as it sounds).

Then again, what NASCAR said is also very true.

You roll the dice and take your chances

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