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Pheasant Gunner

Pay for deletion on trade line.

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I was just informed by Verizon Wireless that it is illegal to negotiate a settlement with a agreement that the entry from OC or debt. collector be deleted on one trade line with the CRA's, it that true and where does it state that in the FCRA laws?

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2 minutes ago, Pheasant Gunner said:

I was just informed by Verizon Wireless that it is illegal to negotiate a settlement with a agreement that the entry from OC or debt. collector be deleted on one trade line with the CRA's, it that true and where does it state that in the FCRA laws?

It's not in the FCRA.  However, it could be in the contract between the furnisher and CRA.   

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It is not illegal.  The only requirement in the FCRA is that TLs are reported accurately.  However, it does NOT say that a TL MUST be reported at all.  In other words, they are not required to report it at all, but if they do it must be accurate.

What kind of settlement is this? From an arbitration case or a court case that you filed?

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This is from a letter I received from a debt collector whom was representing Verizon Wireless back in 2015. I was aware of my neglect for not paying Verizon but confused on to how the amount came to some plus $400.00 dollars. The debt collector agreed for a deletion to my credit report verbally so I settled for a little over 50% of the $400.00. The debt collector stated that the unpaid balance was from receiving 2 boxes for our land line into the house. I told them I tried to hook up and they did not work and Verizon local store would not take them back as a credit. After no relief I agreed to settle and have it removed.

I called the debt collector and they said that it was Verizon that had to remove this account from my credit report. When I talked to Verizon a couple of weeks ago they claimed that the unpaid balance was from a broken contract. I disagreed and asked for statements which they sent the next day fed x but I only asked for 6 months and did not see the broken contract amount. The representative with Verizon stated it was against the FCRA to settle a payoff with a pay for delete. I read the FCRA and did not see such a statement.

I also stated that there was a error on my credit report that was issued by Verizon and Verizon told me that I needed to call the collection agency.  I have a letter from the collection agency with the amount I settled for, although it is only $58 bucks different on my report. Verizon claims they will delete from mistakes on my credit  report. I emailed them and told them 2 mistakes, its listed as a open account and the amount of settlement is also invalid. They still are not willing to delete.

After talking with them I reported my complaint through the Better Business Bureau and may have to take this to arbitration to get deleted. Verizon tells me it stays on for 7 years after the last settlement payment and I think it 7 years from the first delinquent date. Can you confirm?

 

Much appreciated.

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37 minutes ago, Pheasant Gunner said:

After talking with them I reported my complaint through the Better Business Bureau and may have to take this to arbitration to get deleted. Verizon tells me it stays on for 7 years after the last settlement payment and I think it 7 years from the first delinquent date. Can you confirm?

The CRAs will delete the TL 7 to 7.5 years after the date of first delinquency.

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5 hours ago, Pheasant Gunner said:

This is from a letter I received from a debt collector whom was representing Verizon Wireless back in 2015. I was aware of my neglect for not paying Verizon but confused on to how the amount came to some plus $400.00 dollars. The debt collector agreed for a deletion to my credit report verbally so I settled for a little over 50% of the $400.00. The debt collector stated that the unpaid balance was from receiving 2 boxes for our land line into the house. I told them I tried to hook up and they did not work and Verizon local store would not take them back as a credit. After no relief I agreed to settle and have it removed.

I called the debt collector and they said that it was Verizon that had to remove this account from my credit report. When I talked to Verizon a couple of weeks ago they claimed that the unpaid balance was from a broken contract. I disagreed and asked for statements which they sent the next day fed x but I only asked for 6 months and did not see the broken contract amount. The representative with Verizon stated it was against the FCRA to settle a payoff with a pay for delete. I read the FCRA and did not see such a statement.

I also stated that there was a error on my credit report that was issued by Verizon and Verizon told me that I needed to call the collection agency.  I have a letter from the collection agency with the amount I settled for, although it is only $58 bucks different on my report. Verizon claims they will delete from mistakes on my credit  report. I emailed them and told them 2 mistakes, its listed as a open account and the amount of settlement is also invalid. They still are not willing to delete.

After talking with them I reported my complaint through the Better Business Bureau and may have to take this to arbitration to get deleted. Verizon tells me it stays on for 7 years after the last settlement payment and I think it 7 years from the first delinquent date. Can you confirm?

 

Much appreciated.

You are just dealing with low level customer service reps who 1) Have no idea what the laws are or which ones apply to their business, and 2) Whose job it is to frustrate and annoy you to the point of just "paying to get it over with".   I would stop talking with them completely. 

I would send a dispute to the CRAs for any incorrect information regarding the TLs.  If they are not removed, then I would file arbitration for FCRA violations against both Verizon and the debt collector that lied and played games with you.  Arbitration will get you to an actual attorney who has the authority to get things done.  If they don't want to pay the $3500 to arbitrate the case, then they will probably be more than happy to remove the TL to get you to drop the arb.

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