Can a collection be posted on credit report after it was settled?

[credit_68]

The account was never on my credit file. amount of $575. This account was settled for $455 July 07. They have put on my credit $0 balance, customer settled account Mar 08. They said if I paid the $120 difference, they would remove it. CAN a collection company insert settlement 8 months later if the account was never on my credit report?

[EdwinRamos]

1. Did you get a letter from the CA attesting to the removal for payment, "PFD" ??

2. If not, than it comes down to your word against there's, as most will attest to, "If it's not in writing, it didn't happen".

3. I had a similar situation, and after contacting the BBB and filing a formal complaint, the CA honored the agreement. Maybe you can do the same.

[Robert Nashville/Savannah]

If there is no agreement in writing then you have no legal leverage to stand on here - if the reporting is accurate then they can report what happened.

Obviously it's a dirty trick by the CA to try and force you into paying them more money after they "agreed" to a lesser amount but you are dealing with a CA after all - don't be surprised when a lier lies to you.

[credit_68]

You are so right. Always get it in writing. Thanks.

[LoveToGod]

Yes. They are really bad. I would complain to the BBB, AG, and FTC. I would also either call or write to the CA to tell them that this is being done. Put a little pressure on them if it phases them. It's worth a try.

[Rick9972]

Unless you have the origanal agreement in writing. I would pay it and consider myself lucky they are willing to remove it. (PS. Get this deal in writing)

[Robert Nashville/Savannah]

Yes. They are really bad. I would complain to the BBB, AG, and FTC. I would also either call or write to the CA to tell them that this is being done. Put a little pressure on them if it phases them. It's worth a try.

Complaine about what exactly - that they are doing what the law allows them to do?????

No...it is NOT worth a try - making complaints to agencies about things that are legal for a CA to do only makes legitimate complaintes more difficult to get action on.

[TTigggers]

Complaine about what exactly - that they are doing what the law allows them to do?????

No...it is NOT worth a try - making complaints to agencies about things that are legal for a CA to do only makes legitimate complaintes more difficult to get action on.

Agreed

Go for the PFD approach since they are offering it to you.

You have a great opportunity here to remove an item from your CR easily which most of us have had to fight for.

[Nascar3]

Complaine about what exactly - that they are doing what the law allows them to do?????

No...it is NOT worth a try - making complaints to agencies about things that are legal for a CA to do only makes legitimate complaintes more difficult to get action on.

Although I "sort of" agree with your post Robert, the CA obviously has ILLEGALY changed the date of the settlement and perhaps changed the monetary amount (my brain can't recall what the OP wrote about the amount.) Also, isn't that what a "settlement" is all about? To keep bad things from happening? And "agreeing" to accept a lesser amount? Obviously, the CA is going back on it's word (written or not). As far as the "least sophisticated consumer" I would bet the OP has a leg to stand on here. Adding this account to a consumer's credit report 8 months after the fact is bull$hit and malicious and I'm betting he would have a decent complaint. If it were me I would go ahead and file the complaints with the BBB and the AG. Even if he loses that battle he could more than likely get them on another violation. By the sounds of them they are pretty crooked. On the other hand, if he has the extra money then he may as well pay them just to save himself the hassle.......

[Robert Nashville/Savannah]

....

I would take you up on your bet because I think the OP's "leg" won't stand.

I already stated, or at least hinted, that it is a lousy thing for a CA to do but lousy is not a basis for a complaint - breaking the rules...breaking the law...breaking a contract...those are things that form the basis for a complaint.

I don't see that they've changed any amount - they are simply reporting as owed the balance of what is owed...and as to waiting eight months, would it really make anyone feel better if they had begun the reporting the next week or if they had waited another eight months?

We also need to be careful about throwing around the word "illegally"...for one thing, we only have the OP's explanation of what is being reported; he may be 100% correct or he may have misread the meaning of the date and regardless, without an agreement in writing, how can anyone say one "settlement date" is any more or less accurate than any other?

I feel for the OP's position here but as we all know, a verbal agreement isn't worth the paper it's written on...this is at least a good example to others of why we always say GET IT IN WRITING!