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Okay... all the checks were cashed! Now what?


eakub
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As most of you know, I sent checks from my credit union to all of my creditors to pay them off. I wrote payoff letters to all of them and told them that by cashing these checks, they were agreeing to mark my accounts as "paid/paying as agreed" and to remove the late payments from my CRs.

Well... they checks were cashed and all of my balances are $0! xdancex

So, how long do I wait before checking my CRs? And... if they didn't do as I asked, can I dispute it in some way? I have copies of the letters and the checks.

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These were all OCs that I was paying... not CAs. They agreed over the phone that my credit reports would read "paid/paying as agreed" once the accounts were paid off. I asked them over the phone to remove the late charges... but they said that they "couldn't" and that it was "against the law". So I wrote in my letter that it was agreed upon over the phone that the late payments be removed. Hehe... I was just hoping they would take my word for it, since I'm sure they don't all keep good records of those things. Someone on here said that it was worth a try... so I tried.

I just thought that since they cashed the checks... that I would in some way be able to dispute the stuff on my CRs if they were not removed.

So should I still be taking things up with the creditors? Or should I wait awhile and then call up the credit reporting agencies and take it up with them?

:confused:

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It doesn't make a difference if it's a CA or an OC when it comes to those restrictive endorsements. Most likely, the check wasn't even signed just stamped "for deposit". Technically, the DF has an obligation to report "accurate" information so if they don't report your lates, etc, they are breaking the FCRA. As far as disputing with the CRA's, they will only send a verification request to the DF to verify what you are claiming. The deed's already been done, it's worth a try. :goodluck:

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