Settlement not deleted

[das1997]

I know the first mistake was to not get it in writing, but now my situation. I settled 2 BOA cards and they verbaly aggreed to deletion once paid. I did not get it in writing. I have been trying to get the CRA to remove them and no luck for over a year. Seven letters to each. They all come back as verified they belong to me. Is there anything i can do to get them off as BOA will prob no do anything as they are paid already. I thought about a goodwill letter to BOA as now its my word against theirs. The accts never went to a CA. I dealt with BOA directly. I have sent CRA the names and dates of the people i talked to at BOA at the time and still nothing. FYI These were settled in 2009.

Any advise is greatly appreciated.

[Lian]

What many creditors or debt collectors will promise in exchange for payment is to report the debt as paid, leading the consumer to assume that removes it from either their CR or from FICO scoring. That is really no promise at all, as it is required once a debt is paid. Regardless of what was actually said, that is probably what they will say if pushed.

They may have mentioned complete CR deletion, but I doubt seriously if they will admit to that after the debt is paid. To dispute non-deletion with a CRA is a big catch-22. First, they wont get into the middle of your private dispute, and second, and more importantly, you are asking the CRA to intervene in a matter that is directly contrary to their published policy. Both the standard credit reporting manual used by the CRAs as well as their reporting agreements clearly stipulate that credit report deletion should not be made based on payment of a debt. You are, in effect asking the CRA to support you in enforcing a procedure that is directly against their own policy.

So can always take them to court for breach of an oral contract.

[das1997]

would i be better off asking for a goodwill deletion with the OC or that Sec 609 dispute with the CRA's

[Lian]

Since accuracy of credit reporting is not the real issue, and since the CRAs don't support deletion based on payment, I don't see use of the dispute process as the way to go. Asking the CRAs to intervene in issues of non-deletion based on payment is asking them to support you in a manner that is contrary to their written policy.

I see continued GW as the course. To put teeth into your contention of promises made, you would most likely have to bring your own civil action.

[gcooperville]

Just another good reminder to get all agreements in writing. Also, when sending your initial letter make sure that you use certified mail.