Collection agency/Credit help?

Question

I had a negative balance with washington mutal bank. I called them to see how long I had to restore the balance before it would show up on my credit report. They told me I had a certain amount of time and that date hasn't come up yet however I received notice from collection agency to pay this.

Does this mean that it is already going to show up on my credit report and affect my credit score because the collection agency contacted me?

I am sending them payment right away, still before what the bank told me was acceptable amount of time.

Answer 1

If you made the payment to the bank, the bank can inform the credit reporting agencies of this and have it removed from your report.

If they don't, then you can TRY and dispute it with the credit reporting agency.  They have 30 days to confirm that it is a legitimate debt or they have to remove it from your report.  If the do confirm it is a legit debt, then it will stay on your report for 7 years.   Sometimes, the debtor does not respond to the inquiry and then the reporting agency has to remove the negative information.    

You can also request that an "Explanation" of the debt/payment information be added to your report, more or less explaining your side of the story and saying it was paid.  

Answer 2

NEVER    EVER   pay a low life bill collector.

Answer 3

its on your credit. its a debt

Answer 4

It's already been sent to collections so it's also already on your credit report. The bank is talking smack, it's already a done deed.

If the bank accepts the payment it doesn't make sense that they sold your account to the collection agency because they can't collect twice!

Answer 5

If you call them and let them know (the collection agency) you are sending the payment then you may have caught it in time, but dont delay call now.

Answer 6

yep