This is a tip for people who negotiated a settlement on a collection.
If you and the collector agreed on a settlement amount, and then you paid as per your agreement, then you have “paid as agreed.” Simple as that.
Best case is that you got in writing from the collector that they would delete the account from your credit report upon receiving payment in full.
But what if you forgot to get that all-important letter? Or what if you did, but the credit bureaus are still reporting it (and it’s been over 30 days)?
You can write a letter to the credit bureaus that says this:
<Company Name> made an arrangement with me regarding account # 1234. I PAID AS AGREED. This account was not delinquent as shown on my credit report; but was, in fact, paid according to our Agreement. This account is a violation of FACTA, because it is not accurate nor is it fair. Delete this account from my credit file permanently.
The Fair and Accurate Credit Transaction Act is in violation when erroneous and/or unfair information is posted on your credit report. You have the right to request an investigation and correction of anything you believe is in violation.
For detailed information about repairing your credit and restoring your good name, please see Repair Your Credit Like the Pros: How credit attorneys and certified consultants legally delete bad credit and restore your good name