Posted on: 10th Apr, 2012 01:53 am
In order to take a chance and improve my credit, I disputed some of my accounts on my credit that I settled with. I claimed they were not my account hoping that it would get deleted. To my surprise, the only account that I had in collections got completely deleted! But, the other 3 didn't. They aren't in collections. In the status they use to say 'Paid Settled for less than amount owed' and in the comment box... “Consumer disputes this account after being settled, charge-off account instead of paidâ€. OMG... what did I do?! Help! Should I dispute it again?! If so, what do I say when I dispute it?! What is your advice?! It would be so appreciated! Thank you!
Hi Philomina,
If you have a letter from the creditor or debt owner which states that the debt was settled, then you can dispute the account status with the credit bureaus. You can also contact an attorney and take his opinion in this matter.
Thanks,
Jerry
If you have a letter from the creditor or debt owner which states that the debt was settled, then you can dispute the account status with the credit bureaus. You can also contact an attorney and take his opinion in this matter.
Thanks,
Jerry
I don't think you did the right thing. You had paid off the debts and settled them. After doing that, you cannot claim that you don't own those accounts. Any negative item will stay in your credit report for 7 years. But if you pay off and settle them, then the negative affect of those accounts will reduce and most of the lenders will consider the paying off the debts as a positive thing in your credit report.