1 more:crazy CA!!

[Nixer]

Yes, after paying the settlement amount the OC is now reporting the remaining $579(from the original amount) as charged off as bad debt, but in the payment hhistory it is showing no late payments and past due amount $0. Below is the other info I could paste from my fico.

Charge Account
Dell Financial Services Status as of [?] Feb, 2009
Date opened [?] Mar, 2005
Date of last activity [?] Not Reported
Date paid out [?] Not Reported
Date closed [?] Nov, 2005
Account number [?] XXXXXXXXXXXXX
Loan type [?] Charge Account
Credit limit [?] $1,500
Largest past balance [?] $2,655
Terms [?] Not Reported
Account Type [?] Revolving Account
Account holder [?] Individual Account
Scheduled payment amount [?] Not Reported


This account was with ERSolutions I hope anyone that reads this is very careful how they handle this company I have read many complaints about them. AND if anyone ever buys a computer thru DELL you must be very careful to read the fine print!!!!


What should I do next?

Thanks Trish!!!!

[Trish]

So the OC is reporting it as charged off with the written off amount as $579 (I'm just wanting to make sure I'm understanding) Are they reporting a $0 balance though?

[Nixer]

yes that is correct with a $0 balance.

[Trish]

Ah......ok.
What it sounds like is the OC updated the account to show that they have written off the amount that you didn't pay (the difference from the actual amount you owed). That's legit then.

Since they are reporting a zero balance, they're aren't claiming you owe that money... it should still state paid/settled or something like that.
Unfortunately, even if it says paid.......that's not helping your score. You really need to try getting it deleted completely. I would try disputing it off......and if that doesn't work try going straight to the OC. ANY inaccuracies in reporting, at this point, could be to your benefit.

So, there is no need to send the letter out. Don't worry about that.
Is ER solutions reporting? If so, you need to try getting that one off too.

[Nixer]

I have finally recieved a letter from the CA stating the account was "settled in full".

So here is my next question. This CA never reported on my CR's, but now after I paid this account which was a settlement offer the OC says:


Charge Account
Really Horrible Company Status as of [?] Feb, 2009
Date opened [?] Mar, 2005
Date of last activity [?] Feb, 2009
Date paid out [?] Feb, 2009
Date closed [?] Nov, 2005
Account number [?] XXXXXXXXXXXXX
Loan type [?] Charge Account
Credit limit [?] $1,500
Largest past balance [?] $2,655
Terms [?] Not Reported
Account Type [?] Revolving Account
Account holder [?] Individual Account
Scheduled payment amount [?] Not Reported

Descriptions [?]
Settled—less than full balance
Contact Information [?]
One Dell Way
Round Rock, TX 78682
8002832210
Balance [?] Current Status [?] Past Due Amount [?]
$0 Payment after charge off/collection $0

Seven year payment history [?]
30 days late 0 times
60 days late 0 times
90+ days late 0 times

Worst Delinquency [?]
None Reported

So can I send a copy of the letter to the CRA's showing it was "settled in full", even though it wasnt?
Should I not because the CA never reported? It doesnt show any late payments and says settled for less than full amount.


What do you think?

thanks

[Trish]

Honestly......even if they changed it to "settled in full", it will not help your score any since there is a notation of a charge off.
The only thing that's going to improve your CR is if they remove the charge off notation and report it as paid in full (or at least just paid).

I think since you've kinda got an inaccuracy......you could just dispute it first and see what happens. I don't think I would send in any proof of payment.... maybe just stating that the account was settled and paid in full......plus any other errors you might see (dates, credit limit, balance, etc.) Then you can always go after the OC later depending on the investigation results.