Re: Credit Reporting - Settled Debt

Posted by adam on July 12, 2001 at 04:38:44:

In Reply to: Credit Reporting - Settled Debt posted by Luna on June 27, 2001 at 13:45:44:

: I settled credit card debts almost 18 mos. ago. I am in the process of trying to clean up my credit. Two of the credit companies show my account at 0, the other one shows the amount they "forgave" me on my credit report as an unpaid balance. The woman at the bank who issued the card explained to me that it is their policy to show the "forgiven" amount even though the account is settled? Is this right? Is there any recourse I can take to get the number to zero? The account has been paid!

The accnt is always going to be shown as being settled with a r7 rating. Better than a chargeoff but still crap since you didnt live up to your legal aggreement

adam

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