Can a collection agency remove an account?

Has anyone ever had a collection agency remove an account from your credit report after you've paid it in full? A collection agency told me that they will completely remove it once I pay them. Then I read online that they were not really able to do this and if they tell you that they will, it's a lie. Anyone have experience with this?

[chane]

Yes, they can do it. GET IT IN WRITING!

[scorch]

Transunion told me they can do it and it is best to get in writing. Although it is in collections, it is still better to settle than to not pay at all isn't that right?

[m15giv]

Not always, if they will agree (in writing) to remove for pay, then fine. Go for it. If not, do not pay it. When you are disputing the account with the CRA, the fact that you paid show that you are owning the account and gives easy verification ability to the CA. If you talk to the CA, make it in writing via Snail Mail, don't sign anything, and negotiate, negotiate, negotiate (remove for pay). If not, keep disputing until the account is deleted. :cool:

[scorch]

OK. So settling with a collection agency is not always beneficial unless they agree in writing that they will remove the account from your report. If they never agree to that, and the account is still on the report, it will automatically be deleted after the 7 years, is that right? or does it get worse if you do nothing?

I did also read the comment about disputing negative items until they are deleted, which sounds like a good idea. How long does it take and how well does it work?

[chane]

Originally Posted by scorch

OK. So settling with a collection agency is not always beneficial unless they agree in writing that they will remove the account from your report. If they never agree to that, and the account is still on the report, it will automatically be deleted after the 7 years, is that right? or does it get worse if you do nothing?

If could get worse. They could sue you and you could get a judgment on your report. It usually will never come to that, but if it does, you also have your chance to fight them in court and make request that they provide proper validation which they rarely have. Most people are deathly afraid of being sued. I've never been worried about being sued, if it happens, it happens.

I did also read the comment about disputing negative items until they are deleted, which sounds like a good idea. How long does it take and how well does it work?

It depends. The CRAs are never consistent. It could take one time or it could take a lot longer. It depends on a lot of different factors...mostly how old the accounts are that you are disputing. The older they are, usually the easier they will come off.

[rayne428]

this is what i have a question on too, i've paid two bill that were in collections in full one was a phone bill and the other was a credit card and i also paid off regions bank acc that was negative and all the collections agencies thati talked too said that there was ntohing to be done about this.

[chane]

Originally Posted by rayne428

this is what i have a question on too, i've paid two bill that were in collections in full one was a phone bill and the other was a credit card and i also paid off regions bank acc that was negative and all the collections agencies thati talked too said that there was ntohing to be done about this.

Dispute the accounts with the CRAs reporting them.

[CreditCrisis]

I got some crappy validation letters back from "portfolio revocery associates" all it is is stating that they bought the account from hsbc and cap one and that they are using their records to provide my info? but all it is, is the amount im disputing and a date i opened the account. Should i just sit back and wait til the CRA's handle this?

[Trish]

Originally Posted by CreditCrisis

I got some crappy validation letters back from "portfolio revocery associates" all it is is stating that they bought the account from hsbc and cap one and that they are using their records to provide my info? but all it is, is the amount im disputing and a date i opened the account. Should i just sit back and wait til the CRA's handle this?

This is a little confusing but that doesn't sound proper validation AT ALL.
You should start a new thread so this one doesn't go off track....

DO NOT sit back and wait for the CRAs to handle it. Because they won't.