Collection, redating, paid in full, increase score

Really the best way to get paid as agreed and in full is by negotiating with the original creditor in the first place. Once you dispute then everything becomes sort of final. Will it help your score? Probably not very much. It still shows as a collection, but you did get the money out of the past due column. Another note that might hurt is the item might have been redated and now your seven years to fall off starts now, and the 2 years till diminished negative or positive effect to your score.
The name stuff I would dispute again and possibly place a fraud alert on my file. Your name could have been misspelled by accident or someone may have been trying to open credit with your name and misspelled it. Credit reports have become one of the most important part of a persons life and should be guarded like a child.

Quoting REAL PERSON :
Hey Bobo, thanks your help earlier. Now I sent off my letters and Trans Union surprisingly responded already. They sent me an updated copy of my credit report. 1st, my name is wrong, damn idiots. 2nd, the status on the item was changed to PAYMENT AFTER CHARGE OFF/COLLECTION. Does that improve my credit rating at all? Should I try again to have them change the status to PAID IN FULL OR AGREED? How many times should I keep trying?

Bobo@oskie.com wrote:looks great to me
maybe too much
but what the heck

Quoting REAL PERSON :
Thanks Bobo. Just a few more, sorry for all the questions. I check my credit report, actually all 3, and there are are not public record of legal items. Should I only send a copy of the the Paid In Full letter? Or should I also include a copy of the certified check, as the amount that was paid is less than the amount of the actual debt, will that matter? Or is that not enough evidence for the bureau to make any changes? Below is the letter I have constructed using various sources. Do you think I need to make any adjustments to it? Thanks for all your help.
Equifax
P.O. Box 740241
Atlanta, GA 30374-0241
June 10, 2005
Attention: Credit Disputes Department
Dear Equifax:
Enclosed please find a letter from Pressler and Pressler representative of New Century Financial that states Chase MasterCard account:
******************* has been PAID IN FULL.
In addition, I have enclosed a copy of the certified check in which was paid to Pressler and Pressler representative of New Century Financial.

Please amend and delete this item from my credit report to reflect this account is in good standing. Please make this correction within the required time frame, 30 days, of the Fair Credit Reporting Act, and supply me with an updated copy of my credit report.

Thank you for prompt attention and timely cooperation on this matter.
Sincerely,
Enclosures: Paid In Full Letter, Copy of Certified Check

Bobo@oskie.com wrote:
if you know its only on one bureau then deal with them only
it probably shows settlment
i cant see you report so all i know is very little about your report
if it only shows a settlment 7 years if it shows up in the legal section its 10 years you can dispute ANYTHING and yes. Bad credit sucks.

Quoting REAL PERSON :
Can I dispute the item even though I paid it off? So it is still a legal item despite being settled out of court? This sux. Will all three credit agencies have this or should I just deal with the one that the collection agency reported to? Thanks again for your help.

Sincerely,
John
Bobo@oskie.com wrote:

----- Forwarded message from Bobo@oskie.com -----
Date: Tue, 7 Jun 2005 05:15:08 -0700
Subject: Re: Bo - Need some advice on "Paid In Full" letter

My first thought is you have a legal item on your credit report which means 10 years. Do you have your report. If not get one NOW! I would dispute the item and marked paid in full after i tried to dispute it as not mine. Should take about 14 - 30 days for response.
Might hire lex law
Quoting Bobo@oskie.com:
Quoting John Lewis :
Hi Bo,
I was reading your site and found that you were very informative and helpful in a "real person" manner. I was hoping you could answer my questions or lead in the right direction. I recently settled with a collection agency for an account that was probably charged off, been about 2 years to the date of my last payment. The agency had retained a law firm (or the agency was a law firm and I was issued a summons. Not wanting to go to court, I settled with them for an amount and have received a "Paid In Full" letter, as well a "Stipulation of Settlement" that was filed with the court (I am assuming with that being filed with the court, I do not have to appear). Now I would like to update and improve my credit score but I am not sure how to approach the credit bureaus. I am not sure what to include in my letter, the type of response, and response time I should be expecting. Also, the "Paid In Full"
letter is pretty generic although it has a legal header there is no signature, is that OK? Do I need to include the "Stipulation of Settlement" or just the "Paid In Full"? Can I request that that item now be deleted since it is completely paid? I am so lost. Sorry for the long email. Your help is truly appreciated.

Sincerely,
REAL PERSON