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Dwayne B.
Dwayne B., Lawyer
Category: Consumer Protection Law
Satisfied Customers: 32537
Experience:  Practicing for over 20 years and handled many cases and trials for consumers.
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I have a unpaid credit card account was reported by the original

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I have a unpaid credit card account was reported by the original creditor to the credit reporting company as written off or charge off, and it was sold to a collection company, the collection wands to settle this account with me for less amount, if I settle with this collection company, my credit report will shown as paid.
Can you tell me who should change the written off to paid status as of the credit report. And what happen if the creditor does not report to the credit reporting company after I paid the agreed amount?

JD 1992 :

Hello and thank you for contacting Just Answer. I am an expert here and I look forward to assisting you today. If at any point any of my answers aren’t clear please don’t hesitate to ask for clarification.

JD 1992 :

The collection agency who now owns the account should report it to the credit reporting agency but they rarely do. Instead, you end up having to sue to get anything done.

JD 1992 :

If they don't change it then you can sue them for breach of contract but it is a lot of hassle and you have to py a bunch of money up front to sue them although you can probably get it back in the end.

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Customer: replied 3 years ago.


what is the best way to handle this case, not to settle with the collection company and let this account disappear after 7 years?


thank you

How long has it been on the account already?
Customer: replied 3 years ago.

30 days late on 9/2010, and account charge off in 2/2011, account closed in 3/2011.


thank you

The best thing to do is have a local lawyer draw up a release and settlement agreement. If they don't remove the negative info then you have an airtight case against them. Otherwise you can just try and wait them out.
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