Chances of getting this collection off my record?

[yh125d]

Story:

I went to 1 semester of college after HS. After that semester I decided it wasn't for me and went to work. I asked my mom later if it had been paid for as was the plan, she said it was so I forgot about it.

4 months later, I get a letter from a collection agency saying the college handed it over to them. Greeeeeeat, I have a collection on my record now.

I didn't know the whole story at the time, but now I do. Any calls that were made by the college were either to my house which is empty all day, or to my mother. Several letters from OSU addressed directly to me were taken and opened by my mother and never given/mentioned to me. Letters which I now know said in no uncertain terms "pay us what you owe (in a bursar account, not a student loan" in full, OR call us and set up a payment plan, OR this goes to collections.". Obviously my mother decided option 3

Sooooooo, as soon as I figure out that it never was paid and I now have a collection and after about 15 minutes of yelling my head off at my mother, I call the collection agency and immediately explain the situation, set up automatic payments, and all is well (at least, as well as can be given the situation)

1.5 years later, it's almost paid off (total amount was like 5400), completely by me, and will be fully paid by new year. SINCE I think I can effectively explain the situation, and have been completely compliant with the collection company, is there any chance they might work with me and maybe get this collection off my credit record early? I ask because it has already screwed me over in buying a car, I really want to buy a home in the next year or so, and don't want to wait another 5.5 years for it to fall off naturally or however long it is)


Has anyone ever had to deal with anything like this before? Anyone had any luck removing collections from your report after they are paid in full? Anyone know how much of a boon the status of the collection being changed to "paid" but still present on my report would be? My record minus this is totally clean

Any useful information at all?

 

[yh125d]

Nothing?

 

[Gillbot]

You should have negotiated the removal before you started paying IMHO.

 

[SunnyD]

You should have negotiated the removal before you started paying IMHO.

This. It won't be going anywhere for a few years. You can always call and ask if they can mark the account "Paid as Agreed" rather than Collection - Paid. Odds are you're screwed now anyway.

 

[bobdole369]

Yup, by paying, you've reset the clock until your last payment, THEN the 7 years starts. AND its now a "paid collection" vs an "unpaid collection". It gets worse. Its now a NEW paid collection vs old unpaid collection.

Whereas an old unpaid collection might reduce your score by 10 points. A new paid one will reduce your score by 15 points.

Paying old debt is really counterproductive. The numbers above are subjective, and credit scoring in general is some form of witchcraft.

 

[yh125d]

The 7 years starts from the first date it shows up on my report, and can be even less than 7 depending on state


Yeah if I had known what I was doing back then I would have negotiated removal for a settlement, but ts too late to worry about that now

 

[SunnyD]

The 7 years starts from the first date it shows up on my report, and can be even less than 7 depending on state


Yeah if I had known what I was doing back then I would have negotiated removal for a settlement, but ts too late to worry about that now

Yes, but by making an active change to the account (ie: unpaid --> paid) the 7 years resets and it can be reported again. You have to be very careful how you handle collection accounts.

 

[OILFIELDTRASH]

Should of just let it go. It's already on your credit.

 

[Numenorean]

should of just let it go. It's already on your credit.

die!

 

[bobdole369]

The 7 years starts from the first date it shows up on my report, and can be even less than 7 depending on state


Yeah if I had known what I was doing back then I would have negotiated removal for a settlement, but ts too late to worry about that now

No it doesn't.

I'm expert here trust me. It resets the reporting time to "date of last activity" which is your last payment.

Welcome to 7 more years of fun. You would have done better fighting it early and correctly. There are proper ways to handle this, you just bought $5400 worth of bad credit. There really isn't much to do here except sue the collection agency, good luck with that. They are in the clear.

 

[yh125d]

No it doesn't.

I'm expert here trust me. It resets the reporting time to "date of last activity" which is your last payment.

Welcome to 7 more years of fun. You would have done better fighting it early and correctly. There are proper ways to handle this, you just bought $5400 worth of bad credit. There really isn't much to do here except sue the collection agency, good luck with that. They are in the clear.

If you're an expert and you think that then you should get a new job, because the statute of limitations is from the initial date of delinquency. FCRA buddy





And trying to fight it when it came up would have accomplished nothing. I would have absolutely no case. The account WAS delinquent, and I would have nothing to prove otherwise. I'm not trying to nor do I want to get out of my responsibility, just avoid years of bad credit I don't deserve. So trying to fight it with absolutely no evidence to support my case (which would be what, I know I owe this just don't feel like paying it?) would serve only to piss off the collection company, making it less likely they'd be willing to work with me to update the record or possibly (probably a pipe dream at this point) remove it completely once paid

 

[Eli]

If you're an expert and you think that then you should get a new job, because the statute of limitations is from the initial date of delinquency. FCRA buddy





And trying to fight it when it came up would have accomplished nothing. I would have absolutely no case. The account WAS delinquent, and I would have nothing to prove otherwise. I'm not trying to nor do I want to get out of my responsibility, just avoid years of bad credit I don't deserve. So trying to fight it with absolutely no evidence to support my case (which would be what, I know I owe this just don't feel like paying it?) would serve only to piss off the collection company, making it less likely they'd be willing to work with me to update the record or possibly (probably a pipe dream at this point) remove it completely once paid

I don't really know who is right here, but maybe this is kinda what they mean?

I had a CC. Lost job, CC defaulted, went to collections. Now I have BOTH the CC AND the collections accounts in my credit history. The CC is done and over with. It will be a charge-off for 7 years from the date of charge-off.

The collections account is "current", ie: they are reporting every month that there is a balance due. Each time they report, the clock is reset to 7 years. Essentially, the clock starts from the date of last reporting - when they mark it as Paid.

That's how I understand it.

Anyway, I'm very interested to see some helpful feedback in this thread. Unfortunately, I paid off nearly all of my delinquent debt before I knew you could negotiate it's removal from your credit history.

All you have to do is ask, correct? Obviously you need to get everything in writing, which complicates matters, but still.

Since you're still paying on it, OP, it might not hurt to ask. You might get a nice CSR who is willing to help you.

 

[Perknose]

OP, there is one thing you can do, and it is supposed to help. You are allowed by each credit agency to append your personal explanation of what transpired to each incident.

http://ezinearticles.com/?Adding-It...-Can-Net-You-a-Better-Credit-Score&id=4952349

I'm surprised none of the ATOT experts mentioned this to you.

Look at it this way: It can't hurt.

 

[bobdole369]

If you're an expert and you think that then you should get a new job, because the statute of limitations is from the initial date of delinquency. FCRA buddy

I really don't give a shit about your debt, other than you are simply wrong here.

The appropriate section of the FCRA that which you misinterpret is: 15 U.S.C 1681C paragraph (c), subsection (1). Specifically you will want to pay attention to the entire section there. You also need to understand that paying the debt brings it current. Its no longer delinquent, so it isn't reported as such. It's reported as a new paid collection. Not a delinquent account.

I'd quote case law, but you aren't paying me. Trust me when I say - its ***well*** established that your reporting period resets when you make any payment on a collection.

And trying to fight it when it came up would have accomplished nothing. I would have absolutely no case.

Again - I really don't care. I have nothing to prove here. Either take my advice for what its worth or don't. You needn't have paid the debt and it did not help you in this case.

So trying to fight it with absolutely no evidence to support my case (which would be what, I know I owe this just don't feel like paying it?) would serve only to piss off the collection company, making it less likely they'd be willing to work with me to update the record or possibly (probably a pipe dream at this point) remove it completely once paid

This part is a public service announcement.

It almost never benefits the consumer to "work" with the collections agency. The whole racket, including the collections industry, reporting agencies (Transunion, Equifax, etc) are not for the consumer. They don't care about you. They only want money, they don't want to waste time or effort with you and they never do you any favors.

The most effective plan of attack for any collections is to cost the CA money. It's all about effort vs. reward for them. If they buy some debt for a few dollars, they are willing to expend a few dollars to report it, and get you to pay off on it by phone calls, sometimes suing you and garnishing bank accounts and payrolls.

If you cost them time, money, effort, lawyers, etc - they are likely to pass the debt on, often to a company that doesn't do anything but sit on it. Of course sometimes they sue but thats the risk. You have a few things you can do, and they have things that they are required to do to. Again, they won't do what they are supposed to do, it doesn't make them money. And you won't sue them, so no big whoop. Really, are you going to hire a lawyer to sue them over it? Nobody stands up for the consumer in this world. You gotta know what you are doing, most people haven't a clue and get eaten alive. Like the OP.

Here's a big tip for ATOT. The CA will almost always violate the law. They are snake oil salesfolk. Used car dealer slimeballs. They do whatever it takes, and there are any number of things they can do that will result in you winning damages from them. There are a number of state laws, as well as the FDCPA that the collection agents must follow. They never do. They know you won't sue them, so they take the risk. If you do sue them, you can make a bankroll on it. It's usually $1000 per violation plus your legal fees.

 

[Eli]

I really don't give a shit about your debt, other than you are simply wrong here.

The appropriate section of the FCRA that which you misinterpret is: 15 U.S.C 1681C paragraph (c), subsection (1). Specifically you will want to pay attention to the entire end of that subsection, the part saying "similar action".

I'd quote case law, but you aren't paying me. Trust me when I say - its ***well*** established that your reporting period resets when you make any payment on a collection.



Again - I really don't care. I have nothing to prove here. Either take my advice for what its worth or don't. You needn't have paid the debt and it did not help you in this case.




This part is a public service announcement.

It almost never benefits the consumer to "work" with the collections agency. The whole racket, including the collections industry, reporting agencies (Transunion, Equifax, etc) are not for the consumer. They don't care about you. They only want money, they don't want to waste time or effort with you and they never do you any favors.

The most effective plan of attack for any collections is to cost the CA money. It's all about effort vs. reward for them. If they buy some debt for a few dollars, they are willing to expend a few dollars to report it, and get you to pay off on it by phone calls, sometimes suing you and garnishing bank accounts and payrolls.

If you cost them time, money, effort, lawyers, etc - they are likely to pass the debt on, often to a company that doesn't do anything but sit on it. Of course sometimes they sue but thats the risk. You have a few things you can do, and they have things that they are required to do to. Again, they won't do what they are supposed to do, it doesn't make them money. And you won't sue them, so no big whoop. Really, are you going to hire a lawyer to sue them over it? Nobody stands up for the consumer in this world. You gotta know what you are doing, most people haven't a clue and get eaten alive. Like the OP.

Here's a big tip for ATOT. The CA will almost always violate the law. They are snake oil salesfolk. Used car dealer slimeballs. They do whatever it takes, and there are any number of things they can do that will result in you winning damages from them. There are a number of state laws, as well as the FDCPA that the collection agents must follow. They never do. They know you won't sue them, so they take the risk. If you do sue them, you can make a bankroll on it. It's usually $1000 per violation plus your legal fees.

I am intrigued by your ideas and wish to subscribe to your newsletter.

How much would you charge for a consultation to a fellow OTer?

 

[guyver01]

If you're an expert and you think that then you should get a new job,

Well.. you're the one coming here asking questions... if you're an expert.. why ask? why not just shut the fuck up and listen to the advice you're being given. if you know it all.. don't fucking ask for help.

 

[yh125d]

I really don't give a shit about your debt, other than you are simply wrong here.

The appropriate section of the FCRA that which you misinterpret is: 15 U.S.C 1681C paragraph (c), subsection (1). Specifically you will want to pay attention to the entire section there. You also need to understand that paying the debt brings it current. Its no longer delinquent, so it isn't reported as such. It's reported as a new paid collection. Not a delinquent account.

I'd quote case law, but you aren't paying me. Trust me when I say - its ***well*** established that your reporting period resets when you make any payment on a collection.

Maybe I should just not listen to jack shit anything the women in my family say anymore. My grandmother who has been a tax and lending professional for like 50 years told me very specifically the statute of limitations is from the initial date of delinquency, period.

 

[Eli]

Maybe I should just not listen to jack shit anything the women in my family say anymore. My grandmother who has been a tax and lending professional for like 50 years told me very specifically the statute of limitations is from the initial date of delinquency, period.

You are probably correct. You just need context to go with the statement.

Did you read my post above? I'm pretty sure this is how it works, since I can see it in my credit report.. lol.

Edit: Then again, maybe not. This is what the section he quoted says,

"(c) Running of reporting period (1) In general The 7-year period referred to in paragraphs (4) and (6) of subsection (a) of this section shall begin, with respect to any delinquent account that is placed for collection (internally or by referral to a third party, whichever is earlier), charged to profit and loss, or subjected to any similar action, upon the expiration of the 180-day period beginning on the date of the commencement of the delinquency which immediately preceded the collection activity, charge to profit and loss, or similar action."

I think that agrees with what you've said, and not what he has said. Hmm...

 

[yh125d]

You are probably correct. You just need context to go with the statement.

Did you read my post above? I'm pretty sure this is how it works, since I can see it in my credit report.. lol.

Yeah Im not real certain of anything. Either way though, I know it's gotta help a decent amount to have the collection show up as "paid as agreed" rather than what it is. I don't remember how it currently reads, but it doesn't state anything to suggest that it's being paid on as agreed. Made it a total pain to get a new car after my brother totaled my last one 9 months ago. Hopefully once it reads "paid" I will be able to get a mortgage without too much trouble.


I've been dwelling on this a lot the last few weeks and I'm just now really fully realizing how much my mother screwed me over with her complete idiocy. I've said that I'd rather buy a house than get an apartment (I live with my dad now which is fine but a long commute), but I don't even know that I'd be able to get a lease, since most places credit check

 

[boomhower]

Your screwed in more ways than one. First, it isn't coming off. By paying you agreed it was a valid debt. Your only leverage to get it off is to pay with them agreeing to take it off, you've already paid so they have no motivation to do so. Second, it will be on there longer. If you would have just not paid it would have dropped off at seven years from the date it went first delinquent, now it's going to be on there much much longer.

You should feel good that you paid your debt and don't have to worry about collectors calling or getting sued. Over time the damage will ease so just go on with your life and don't sweat it.

 

[ponyo]

Everything bobdole has said is correct. By paying you've reset the 7 years. You were trying to do the right thing and honor the debt but screwed yourself by not knowing the rules.

 

[bobdole369]

Blast what is it you kids say these days when you've bested a noob? Muggles is it?

Anyway I don't appreciate the attitude yh125d, but I understand why you think you are correct. Its natural to think that by doing the right thing that you are doing the best for you. In this case, you really did screw yourself. Your saintly tax and lending pro grandmother is also wrong in your case. Now had you never paid a dime, there ya go thats the DOLA.

You don't seem to realize that you bring the account current once you make a payment. It's not delinquent anymore.

I understand why you would trust her more than me - a faceless stranger on the internet. So be it, and enjoy the every so slightly worse credit. Kudos to paying your debt, but fuck you for giving the collection industry another reason to exist.

I don't even know that I'd be able to get a lease, since most places credit check

When they run credit *most* places are looking for evictions, repoes, and bankruptcies. It's not likely that a CO or even a ton of bad debt will get you denied out of the gate. Some places do deny on credit score alone, or have specific req (i.e. less than 3 chargeoffs, no more than $5k total debt, etc), in general if you make more than 3 times the rent - and have the deposit they need liquid you should be OK. Just ask them specifically about the credit requirements. Those that need a particular score would rather you not waste there time.

A specialty credit reporting agency required to send you a report is "Saferent" and if you write them with a certified letter you can get a free report out of them. Just insist that they are subject to the FCRA and as long as you have a CMRRR they'll send you out a report. Of course it might just be a blank paper with your name on it.

You should feel good that you paid your debt and don't have to worry about collectors calling or getting sued. Over time the damage will ease so just go on with your life and don't sweat it.

This