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Hi, I have a collection account with MCM. The account was reported to the credit bureau as negative.
We paid the settlement opportunity amount and in exchange for paying this amount MCM states (in their settlement opportunity letter) that they will report the account as "paid in full." The account is currently reporting as "paid, closed," not "paid in full."
What would be recommended to get the negative mark from this account off the credit report? Debt validation? 623 Dispute? Something else given that MCM did not report account as stated (I.e., as "paid in full" -- which would presumably move the account to a positive status?)?
As long as it is marked as paid that should be suffice, however if you want it changed try sending a copy of the paperwork along with a dispute to all three credit reporting agencies and see if they will change it. Usually if you have paperwork to back up your dispute they will do it.
Collection Account Reporting Removal
Hi Guest,
You can use the letter to dispute the status of the account, though your account status showing "Paid in full" will have the same effect as "Paid".
You can send a dispute letter to the credit bureaus, through certified mail, requesting a return receipt. Along with the letter attach a copy of the letter from the collection agency. You will get a sample dispute letter with this community, which you can use to write one of your own.
Thanks,
Aaron
paid= paid in full.
don't worry. if they were tried to report it settled they would spell it out