lookingforhelp Posted April 1, 2008 Report Share Posted April 1, 2008 I am having trouble with an CA account that I am trying to settle. I disputed the account numerous times to no avail, that's when I decided to try for a PFD.I wrote a PFD letter to the CA that included removing the account from my CR's, having no negative mention of the account, .etc.......However the letter i recieved from the CA had no mention of deleting or not reporting to the CRA. It only said that they would accept $350 on a $700 debt. So of course I did not send the money order. The problem is on my CR they have changed the status of the account to " paying under a partial payment plan".....Two Questions.1. Could this finally be a valid reason for the CRA to delete this account, if I use this false info as a dispute reason?2. Will this updated status on a collection account bring down my scores?Thanks Link to comment Share on other sites More sharing options...
Ahntara Posted April 1, 2008 Report Share Posted April 1, 2008 1) Yes, it COULD, but it probably won't. Sounds like (the CA's version of) accurate reporting. Settlement = partial payment2) Yes. A recent 'date last reported' combined with many things in the TL that indicate default cause significant deductions to your score. FICO-based software mistakenly views this as a recent derog and penalizes in the History category. That piece of the pie currently makes up to 35% of the total number. Link to comment Share on other sites More sharing options...
kb9tbq Posted April 2, 2008 Report Share Posted April 2, 2008 Anytime a collection agency updates an account it is making it recent again on the credit report and affecting the credit score.They should not have updated a payment plan in progress since you have not agreed yet.I would recommend writing back a second settlement letter, offering the full amount for deletion. Link to comment Share on other sites More sharing options...
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