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I applied for a loan to buy a house. However, my loan documents were denied. I received my free annual credit report and found the following.
In 2002, one of my credit cards was handed over to a CA. They sent me a letter, and offered a settlement. I paid the debt off at a 60% reduction of the outstanding balance. However, on my credit report, they are still showing that I still owe them. I still have the documentation proving that I did pay my debt.
It may be a little bit too late but I am thinking of sending them a goodwill letter, stating that I did my part and pay for the debt, and asking if they can remove it from my credit report.
denied loan
Hi Aspen,
You can sue the collection agency by using the documentation that you have paid your debt, and the settlement letter sent by the collection agency.
Send dispute letter to the credit bureaus, attaching proof of your payment, and a copy of the settlement letter. Moreover, this negative account is over 7 years old. it should have dropped off by now. Thus, you can dispute this item on that ground too.
Thanks,
Aaron