Very Upset can someone explain this to me?

[JTD81]

Hello all I've been repairing my credit for about 6 months now with some success. I've used a credit repair company do some disputing, which worked for a couple of things. Now I'm trying to just pay the stuff I know cant be disputed to get it over and done..


OK, so heres my dilemma. I paid a HSBC card off through a collection agency back in 2005 when HSBC sold it, and also just paid off a REPO that wasn't mine, I was a co-signer, and got screwed. It was through Americredit, but they sold it to an collection agency also... Both accounts where sold to collection agency's that aren't reporting on my credit! HSBC, and Americredit both say "sold, zero balance, charge off".. I thought by paying the collection agency it would in turn update the Americredit, and HSBC, but its not!!! I tried to dispute it myself, but there sending me back letters saying its already at a zero balance! How can I fix this!!


Thanks

[Trish]

Unfortunately the OC doesn't have to report it as paid. For a CO, that's exactly how they're supposed to report it (transferred or sold/zero balance). I know....it sux.

What you can do is make sure they are reporting 100% accurate (if you're not sure you can always post how they are reporting so we can take a look/give advice) and dispute any inaccuracies.

[jjgross]

Originally Posted by Trish

Unfortunately the OC doesn't have to report it as paid. For a CO, that's exactly how they're supposed to report it (transferred or sold/zero balance). I know....it sux.

What you can do is make sure they are reporting 100% accurate (if you're not sure you can always post how they are reporting so we can take a look/give advice) and dispute any inaccuracies.

Trish i was going thru my papers and along the same line as this,is a letter from wama agreeing to a payment plan which in the middle of they charged off which would mean they violated their own contract.So the poster will have to comb thru their report and make sure it is 100% accurate and chance's are its not.

[JTD81]

I'm very upset now, because whenever my credit is ran its coming up as a REPO like i haven't paid it.. It also seems like the paid letter from the collection agency doesn't mean much.

[Trish]

Originally Posted by JTD81

I'm very upset now, because whenever my credit is ran its coming up as a REPO like i haven't paid it.. It also seems like the paid letter from the collection agency doesn't mean much.

I have the same thing. I know. But unfortunately they will only report it as to what the status was with them at the time that they sold the acct. Since it was a repo/CO with them and they sold it to a CA, that is how they will report it.

The paid letter will help you out if you need to prove that it was paid.......like to a CRA or to a mortgage company.... but it won't make much of a difference to the OC.