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Debra, Lawyer
Category: Canada Law
Satisfied Customers: 99974
Experience:  Lawyer
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I have a question regarding Equifax, not closing my old

Customer Question

My name is Najeia ***, I have a question regarding Equifax , not closing my old collection account from my Credit Report even when the creditor sent them Release Letter in 2011
JA: Thanks. Can you give me any more details about your issue?
Customer: there was a collection on my account in January 2011and i paid it off 1005 there was a collection on my account in January 2011 and i paid it off 100% till May 2011 - The creditor sent the paid in full Release Letter and currently the balance shows that i owe 0.00. But i recently got declined from two major banks when i applied for Auto Loan, only because of this i asked Equifax to close this and also a Collection Agent, sent a Release Letter to Equifax, i filed a dispute but they said it cannot till 2018
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Submitted: 1 year ago.
Category: Canada Law
Expert:  Debra replied 1 year ago.

Thank you for requesting me.

Are you asking why the report is still on your record even after you paid off the debt?

Customer: replied 1 year ago.
I recently got denied because i had this collection shown on my Equifax Report. Even though i have paid it full in 2011 , and it was only 312 dollars .I requested the Collection Agent to send "Release Letter" to Equifax early Mid January 2016, so that Equifax will close the account finally, which the Collection Agent did.Equifax replied back that they cannot close it because it will stay on my Report till 6 years .
My question is, is there anyway we can ask them to close it , because the Banks just deny the loans that I have had collection in past
Customer: replied 1 year ago.
I have attached the screenshots from my Equifax report and Release Letter from Collection Agent, for better understanding. Please find attached below
Expert:  Debra replied 1 year ago.

I think you have misunderstood how the credit reporting bureaus work. A report does not come off your credit recorf simply because you paid the debt. The way this works is that once there is a report so long it is valid it stays on your record for several years. In fact generally it stays on for six years unless it's a bankruptcy which will stay on for seven.

So it's not that you can simply pay to debt and have your record repaired. Unfortunate that is not at all how this works.

Does that answer your question? I know this is not what you wanted to hear but does itbat least clarify why this is happening to you?

Customer: replied 1 year ago.
i understood,
But there is no way, we can have it removed from Equifax ? because Transunion doesnt show it anymore on the Credit Report
Expert:  Debra replied 1 year ago.

There is no way to have it removed from Equifax if it was a debt that was validly reported. I'm so sorry about that.

Customer: replied 1 year ago.
No problem , thank you so much for your time .Regards
Expert:  Debra replied 1 year ago.

You are very welcome.

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