Two questions on CAs and line-items.

[Drake Savory]

Let's say I have a line item that is removed via a CRA dispute.  The CA is still actively collecting so is there anything to prevent them from creating a new line item the next time they report?

 

Maybe (or maybe not) related to the first question.  I have a collection that just (less than 2 weeks ago) got sold to a JDB.  Obviously they havn't sent anything to a CRA yet.  Let's say I call and agree to pay* BEFORE they send any info to a CRA.  Can they then report to the CRA thus creating a "collections" line item?  If so, would it be marked "Paid in full" or "Paid as settled" if Ireach an agreement with them?

 

*  I know the smart move with a JDB is to do the DV dance with them etc. etc. but if there is a way to prevent it from ever even being sent to the CRA it may be worth it.  Yes, I know that any settlement should include an agreement in writing befora a payment is made that they will never report to the CRA about the debt.

[Clydesmom]

Let's say I have a line item that is removed via a CRA dispute.  The CA is still actively collecting so is there anything to prevent them from creating a new line item the next time they report?

 

If the information is re-inserted the CRA must notify you within five days.  

 

Maybe (or maybe not) related to the first question.  I have a collection that just (less than 2 weeks ago) got sold to a JDB.  Obviously they havn't sent anything to a CRA yet.  Let's say I call and agree to pay* BEFORE they send any info to a CRA.  Can they then report to the CRA thus creating a "collections" line item?  If so, would it be marked "Paid in full" or "Paid as settled" if Ireach an agreement with them?

 

Yes, they can report it as a paid/closed trade line unless you negotiate in writing that one of the terms is not to report.

 

*  I know the smart move with a JDB is to do the DV dance with them etc. etc. but if there is a way to prevent it from ever even being sent to the CRA it may be worth it.  Yes, I know that any settlement should include an agreement in writing befora a payment is made that they will never report to the CRA about the debt.

 

The ONLY guaranteed way to ensure a negative trade line is not reported is to manage your debt so that you don't have this issue.  There is no magical method that or law that prevents a creditor from reporting accurate negative information.

[momof5]

I have had CA accts rotate from one CA to another..... on one particular acct, the CA called and I didn't have caller-id back then... so I answered.  She told me what the debt was for and it was a small amount.  I talked her into allowing me to pay without the CA ever reporting to the CRA.  In my case, I was very lucky....it was done over the phone and she honored the verbal agreement.

 

Technically, if they agree to not report in exchange for payment and you don't get it in writing, you could find yourself with a Paid CA on your CR.  As always, never do anything that is not in writing.