Verizon Wireless Lied and Reported Me Anyway
My question involves a credit report problem in the State of: South Carolina
Hi and thanks for any and all replies.
I finished my two year contract with Verizon and decided not to renew. I had a balance left over and made a payment agreement with them for the remaining amount. I was told numerous times that I was in no danger of having this reported to the credit bureau's. Well i missed my last scheduled payment for some time until I got a letter for a collection agency regarding the remaining balance. So I made a call to Verizon and asked them has this been reported to the credit bureau's yet and was told no and they told me to make the payment and all will be fine, So I did. Now yesterday I went to my bank and found out they had reported it as a charge off, when they said they wouldn't report it.
Today I called them back to ask them why they had lied to me and reported me anyways. They told me that they shouldn't have taken the payment, and the person with them did in error. They then told me they were not going to retract the report and whats done is done.
I know I dropped the ball on this in the first place, but is there anyway I can make them stand up to their word and retract the report? Thanks for any help with this matter.
Re: Verizon Wireless Lied and Reported Me Anyway
Did you get it in writing?
Re: Verizon Wireless Lied and Reported Me Anyway
No unfortunately I didn't get it in writing. :(
Re: Verizon Wireless Lied and Reported Me Anyway
Then there is little you can do, as long as the CO is being correctly reported.
Re: Verizon Wireless Lied and Reported Me Anyway
Quote:
Quoting
divemedic
Then there is little you can do, as long as the CO is being correctly reported.
Why can't the OP contact the credit bureaus, dispute the "charge off", show proof of payment and have them change the report to show "paid" as opposed to a "charge off".
Moreover, if the collection agency is still attempting to collect on a debt that has been "charged off", doesn't that leave them in a position where they would have to change it to "paid" if it was actually "paid"
Re: Verizon Wireless Lied and Reported Me Anyway
That is why I said, "As long as it is being corrrectly reported." The TL would be changed, at best, to "Charge Off" with a $0 balance and a "paid" notation. The CO will still be there, but it will be marked as paid. This will not really help you, though.
The FICO scoring algorithm only cares that the CO happened, not that you finally paid it. Paying a CO or a collection and having it marked as paid does NOTHING to help your FICO score.
From a credit standpoint, once an account is charged off or sent to collections, you gain nothing by paying it. The best thing to do with a charged off or collection account is to use the fact that you are willing to pay for a deletion. Even then, I would not make such an offer unless all other legal remedies were exhausted.
Re: Verizon Wireless Lied and Reported Me Anyway
In many states you may find that collection agents within a company that this the primary owner of the debt will provide guidance but they also have overarching requirements from their legal department. Your payment, at the time, might have resolved the issue. There are a lot of factors listed here, such as if the agent said they needed the payment that day or it would be charged off. ...or if it was pending C/O and they would hold it for you for a day if you overnighted the payment. If you fail to do that then they win.
If none of that was said you can try speaking with them. If they agree to have the C/O deleted you *MUST* get that in writing from them. Paid In Full and Settled have different meanings than Deleted/Removed!