Credit Score Question

alavaz

alavaz

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I'd call the electric company just to make sure. If it's a real debt collector, you'd want to pay them, since they would have bought the debt from the electric company - which means you no longer owe the electric company. If it's just some hokey shit to scare you into paying, then it doesn't matter who you pay.
 
Fogel

Fogel

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alavaz said:
I'd call the electric company just to make sure. If it's a real debt collector, you'd want to pay them, since they would have bought the debt from the electric company - which means you no longer owe the electric company. If it's just some hokey shit to scare you into paying, then it doesn't matter who you pay.
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Yeah, double check with the Utility. I had the same issue almost with my gas bill, and they told me if I payed within a certain time they'd be able to close the claim with the debt collector without it showing up on a credit report.
 
McCheese

McCheese

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Thanks for the suggestions. I paid the electric company online directly and then called to confirm that my account was in good standing. They said it was, and they said that they would contact the creditor to let them know that the debt had been paid.

Would it be a good idea to send a letter to the debt collection agency with written verification that my account has been paid, such as a printout of my account statement? I guess I'm just paranoid that the electric company won't actually close the debt or whatever and I'll keep getting harassed or have my credit score affected for a debt that's paid up.
 
sleevedraw

sleevedraw

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McCheese said:
Thanks for the suggestions. I paid the electric company online directly and then called to confirm that my account was in good standing. They said it was, and they said that they would contact the creditor to let them know that the debt had been paid.

Would it be a good idea to send a letter to the debt collection agency with written verification that my account has been paid, such as a printout of my account statement? I guess I'm just paranoid that the electric company won't actually close the debt or whatever and I'll keep getting harassed or have my credit score affected for a debt that's paid up.
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Send a letter to the collections agency (certified-RRR) demanding validation of the debt. Also check your credit reports to make sure they haven't placed a derogatory remark on it. See also the paragraph immediately above the section I linked for the one-two punch flowchart. IANAL.
 
LachiusTZ

LachiusTZ

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sleevedraw said:
Send a letter to the collections agency (certified-RRR) demanding validation of the debt. Also check your credit reports to make sure they haven't placed a derogatory remark on it. See also the paragraph immediately above the section I linked for the one-two punch flowchart. IANAL.
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Is a derogatory remark where the same single thing gets repeated every few months?

Checked my credit, and I have 1 thing I refused to pay 3 years ago, and have fucking major derogatory's every 2 or 3 months for 3 years from that one fucking thing.
 
Khane

Khane

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Every month you don't pay is another month you're in delinquency. If folding your arms indignantly was a valid credit management strategy what would be the point of credit reporting at all?
 
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Noodleface

Noodleface

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Yeah but once it's in collections, which is what I'm assuming happens, they can't keep hitting you for it. It'll appear on your credit report for 7 years but that's about it. If it's big enough they could sue you (happened to a friend)

I agree that ignoring that isn't a valid strategy. Why not just write a certified letter to that company asking for a pay for delete?
 
LachiusTZ

LachiusTZ

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It looks like about 6-8 "major derogatory" per year for 3.5 years. It's constant spam.

I guess it doesn't matter anymore, the whole reason I refused to pay it was because AT&T / Direct TV charged me for some shit I told them to cancel and after weeks of calling they couldn't fix it so I refused to pay it.

Might as well fucking call these blood suckers and get rid of it.

Edit:. Was just about to ask if the pay to delete thing still worked. Saw conflicting info regarding it
 
Noodleface

Noodleface

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Pay to delete does work, but the agency has the final say if they're willing to do that for you. Usually not I think, but if it's been years who knows
 
Khane

Khane

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I doubt his credit score keeps dropping, it's just a fixture on the report for 7 years. After 90 days you're considered a risk as a repeat offender and after 120 you usually get sent to collections, after that the credit score shouldn't drop further but it's going to be a major, major drop.

I had to dispute an erroneous delinquent claim from AmEx earlier this year. That one account was reported as 60 days late and it dropped my credit score by 100 points until I got it sorted out.
 
Noodleface

Noodleface

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I had an erroneous Sprint charge that showed up when I applied for my mortgage. Wrote them to verify the debt and it mysteriously disappeared
 
LachiusTZ

LachiusTZ

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So it's been over three years, ignore it or pay it?

I don't feel compelled to pay it for any moral reasons, so if it's not going to improve my credit I don't really give a shit. Lol
 
Khane

Khane

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If you pay it you can begin to repair your credit now. If you wanna wait another 4 years for that process to begin is up to you. Planning on making any major purchases like a house in that time?
 
Arative

Arative

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Ask for proof of debt and check out the statute of limitations in your state. Could be the debt is out of sol. They for sure shouldn't be reporting it as new every month.
 
LachiusTZ

LachiusTZ

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This is what it looks like.

Major Derogatory Account A derogatory account has appeared on your credit report. Here are the details of this inquiry:Date Reported: 04/12/2019
Alert TypeMajor Derogatory
Processed Date04/12/2019
Creditor TypeOther Collection Agencies
Last Update Date2019-04-11-07:00
Amount00000223
Alert Date2019-04-11-07:00
Creditor NameFRANKLIN COLLECTION SV
Phone Number(662) 844-7776
Creditor Address2978 W JACKSON ST, TUPELO, MS, 38801
Major Derogatory Account A derogatory account has appeared on your credit report. Here are the details of this inquiry:Date Reported: 04/10/2019
Alert TypeMajor Derogatory
Processed Date04/10/2019
Creditor TypeOther Collection Agencies
Last Update Date2019-04-08-07:00
Amount00000223
Alert Date2019-04-09-07:00
Creditor NameFRANKLIN COLLECTION SV
Phone Number(662) 844-7776
Creditor Address2978 W JACKSON ST, TUPELO, MS, 38801
Major Derogatory Account A derogatory account has appeared on your credit report. Here are the details of this inquiry:Date Reported: 04/05/2019
Alert TypeMajor Derogatory
Processed Date04/05/2019
Creditor TypeOther Collection Agencies
Last Update Date2019-04-04-07:00
Amount00000223
Alert Date2019-04-04-07:00
Creditor NameFRANKLIN COLLECTION SV
Phone Number(662) 844-7776
Creditor Address2978 W JACKSON ST, TUPELO, MS, 38801
Major Derogatory Account A derogatory account has appeared on your credit report. Here are the details of this inquiry:Date Reported: 04/04/2019
Alert TypeMajor Derogatory
Processed Date04/04/2019
Creditor TypeOther Collection Agencies
Last Update Date2019-04-02-07:00
Amount00000223
Alert Date2019-04-03-07:00
Creditor NameFRANKLIN COLLECTION SV
Phone Number(662) 844-7776
Creditor Address2978 W JACKSON ST, TUPELO, MS, 38801
Major Derogatory Account A derogatory account has appeared on your credit report. Here are the details of this inquiry:Date Reported: 03/28/2019
Alert TypeMajor Derogatory
Processed Date03/28/2019
Creditor TypeOther Collection Agencies
Last Update Date2019-03-28-07:00
Amount00000223
Alert Date2019-03-28-07:00
Creditor NameFRANKLIN COLLECTION SV
Phone Number(662) 844-7776
Creditor Address2978 W JACKSON ST, TUPELO, MS, 38801
Major Derogatory Account A derogatory account has appeared on your credit report. Here are the details of this inquiry:Date Reported: 03/27/2019
Alert TypeMajor Derogatory
Processed Date03/27/2019
Creditor TypeOther Collection Agencies
Last Update Date2019-03-25-07:00
Amount00000223
Alert Date2019-03-26-07:00
Creditor NameFRANKLIN COLLECTION SV
Phone Number(662) 844-7776
Creditor Address2978 W JACKSON ST, TUPELO, MS, 38801
Major Derogatory Account A derogatory account has appeared on your credit report. Here are the details of this inquiry:Date Reported: 03/23/2019
Alert TypeMajor Derogatory
Processed Date03/23/2019
Creditor TypeOther Collection Agencies
Last Update Date2019-03-21-07:00
Amount00000223
Alert Date2019-03-22-07:00
Creditor NameFRANKLIN COLLECTION SV
Phone Number(662) 844-7776
Creditor Address2978 W JACKSON ST, TUPELO, MS, 38801


FOR YEARS. I dont know if each of these impacts my credit rating, or wtf it is exactly, but yeah . . .
 
Arative

Arative

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Send the collection agency a letter asking for proof of the debt. You can find many form letters online for that. Use certified mail to make sure they get it The collection agency will have 30 days to respond.

You can also open disputes with the three credit agencies online. But you might wait until you get a response from the collection agency.

Are you getting that credit report from a place like credit karma or does your actual credit report look like this?

Also find out the statute of limitations in the state where the debt occurred. If it is past the statute, then it shouldn't be reported to the credit bureaus.
 
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