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I had five accounts that passed to collections. I paid them in 2006. My credit score went up to 745. Recently while going through my report I saw the same accounts reported with some different CA. What can i do remove it? Shall I call the CA's and ask them for a debt validation? They have spoilt my credit history for no fault of mine. Can someone tell me how long will it take to remove the debts? I need a loan of $ 10,000 very soon.
Hi Larry,
Do you have any proof that the debts have already been paid off? Did the collection agency give you any receipt, after receiving your payment? You can dispute the errors directly with the credit bureaus. You will find a sample Dispute Letter in the Letters of Credit section. You should enclose copies of all documents, to prove the debt accounts have already been paid off.
Under the rules of FCRA, the credit bureaus must investigate and update your credit report within 15 days, after receiving your Dispute Letter. The credit bureaus must also send you a free copy of your credit report after the errors have been corrected.
This si one reason I always tell people to hold on to their proof of payment. I woul;d definatley get that dispute in place and also send out a debt validation letter by cerified mail. It ,may also help to call that collection agencyt and inform them that this is a paid debt that you can prove paid. (regardless of whether you can) Let them know you are contacting your atty generals office and disputing this with the credit bureaus. Hopefully this will get them to set the record straight. Come back and let us know if we can further assist you or how everything worked out.
Paid Collections
Hi Larry,
You should send the Dispute letter that rachael mentions, through certified mail with a return receipt requested. This will ensure that you have the date, when the bureaus have received the Dispute Letter. If the negative listing is not removed within 30 days after receiving your Dispute letter, you can file a complaint with the Federal Trade Commission. You can file a complaint with the FTC online by going to their website which is "www.ftc.gov"