Alliance One Dihonest About Terms of Settlement Trevose Pennsylvania

Ok the company you pay is required 'by federal law' to report any changes in account status within 30 days. The credit bureaus typically take up to 90 days to get this change reflected on your credit report unless you contact the credit reporting agencies and advise them that you are disputing the account in which case they have 30 days to have the changed in account status reflected on your credit. As far as the account being completely removed, the company reporting the debt to the credit bureaus has the ability to have an account completely removed. At worse they can mark the account as placed in error to have it removed so don't take no for an answer. EVERY AGENCY THAT REPORTS TO THE CREDIT BUREAUS HAS THIS ABILITY! Did you pay by credit card? Dispute the charge and get your money back if they are not going to follow through on their promise. Chances are they can probably go down the half off anyway.

They continue to report my account as a collection. For two months after we have reached a settlement, they continue to make a negative report to the credit bureaus. They will not do as they have agreed. I would not have paid such a sum at the time due to being financially strapped, but they said they would delete the account from my credit reports. Instead, they do not even show the account as paid at the very least. I paid in February and they reported in March and April that the account is in collection. Be wary of this company.

First of all, your debt cannot be REMOVED from your credit report. It can only be updated as "paid in full", "settled in full" etc... I can't imagine a collector telling you that the debt could be REMOVED. However, anything's possible. Also, after you submit payment to our agency, we are required by federal law to report this payment to the credit bureaus'. It is up to THEM to update your credit report. Your anger is directed at the wrong people. You should only be angry at yourself, because bottom line is this: If you would have paid your debt when you were supposed to, you would not be in this predicament!!!

Just so you know sir, the credit report companies update every 6 months. If you want your debt to show settled in full you must request they update your sooner than 6 months. you can just call them and they will help you out. chances are alliance one closed out your account and reported it back to their client within the 24 hours and the client reported to the CB its probably on but your report isnt updated. just thought I would let you know how it works. The employee essentially shouldn't have told you it would appear withing 24 hours but you can contact the CB and get it straightened out faster than the average 6 months. it doesnt cost you anything.