Credit Report still showing original balance after account is "settled"..

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I've been reading these forums for about a year now for advice on how to deal with CA's and negotiating settlements.  Now I have an issue with the settled accounts and how they show up on my CR.  I have arranged settlements with 3 accounts and paid them as agreed with 3 different CA's.  I checked my CR recently and the difference between the original balance and settled amount is still showing up for all 3 accounts.  


For example:  I had a $850 balance on a credit card but I negotiated a 'settlement in full' payment for $500. Now a $350 balance still shows as being owed for this account.


This is the case for 3 different accounts.  I have copies of the 'Settled In Full' letters for all three. Should I write back to the CA's and request they update my CR? Or, should I dispute these accounts to the CRA's?


Any help is appreciated!



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Send them to the CA along with proof of payment and they should adjust it. It does take some time and I think you can also (you should of asked the credit card company to agree to adjust the report as settled paid when making the settlement payment). or ask them now and see how they respond- They should adjust it from their end. check the FCPA laws on this.

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Exactly what the previous poster said. I have found that sometimes these agencies just take their sweet time or completely overlook sending the adjustments altogether. Most of the time just reminding them is going to take care of the problem.


I have found that if you send them something by snail mail, it helps if you make them sign for it. I have found that some agencies will deny ever receiving your request.

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Dispute with the CRA first and let them verify, delete, or update the trade line. After that option is when you would CMRR that polite letter asking for removal due to incorrect information being reported which they just verified. In general, dispute with the CRA first and give them the opportunity to screw up.

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CAs don't buy debts.  JDBs buy debt debts.  CAs only do the hassling.


If...big if...the debt is sold the OC's tradeline is supposed to say "sold" and their balance should be $0.


IF indeed the OP did pay a CA...and the OC is still reporting a balance due...there is a very good chance that the CA was not authorized to settle the account and the OP, in effect, only made a payment.

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OC charges off debt.


OC sends charged off debt to CA. CA fails. (<========== You were probably here.)


OC sends charged off debt to 2nd CA. CA fails.


OC sells debt to JDB. OC should annotate sold and $0 balance.


JDB either sends to CA or acts as CA. JDB fails.


JDB sends to lame lawyers.


Lame lawyers file suit against you.


CIC member fights back.


Lame lawyers dismiss without prejudice.


Lame lawyers file second suit against you.


CIC member fights back.


Lame lawyers dismiss with prejudice.

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