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You have to be diligent. The communications company can still get this removed even after it was sent to collections.
This doesn't answer your question so to do that, yes there should be ways to more easily monetarily make up for mistakes that cost the consumer.
It's likely more important to get this removed though. I would badger and badger and badger the communications company until they get it removed. As I said, they indeed can.
The communications company absolutely can have the information removed from your credit report, and just as you said, I'd be all over them until they do.
My husband is going through a situation in which one of the well known communication companies falsely accused him of owing them money. After he was able to prove that he did not owe them any money and that they actually owed him money, they said they would rectify the situation. The problem? The erroneous bill had already been sent to collections and was reported on his credit report. This dropped his credit score from the low 700s to the low 600s. My credit score is now higher than his and I haven't worked in almost a decade.
Credit score means so much in todays America. It determines if you can buy a house or a car, the interest rates you pay, and in some cases, the job you can get. Essentially it is your financial reputation. When someone ruins that reputation with false claims, should you be able to sue?
Have you actually called the credit agency, and they refused to fix the erroneous report?
There's a reason why those 100% perfect credit in 30 days scams exist - because when you file a complaint about your credit, they automatically fix it while they review your credit (at which point, they will usually then conclude that yes, your credit does suck, and bump it back down).
Depending on the exact specifics of the situation your target may need to be the collection agency. If you or the original creditor have made them aware that the debt was referred to them in error they are required by the Fair Credit Reporting Act and the Fair Debt collection Practices Act to have the negative entry removed. Research these two laws. I would send the CA a certified letter, return receipt requested, explaining the problem. Be polite but firm, include a copy of whatever proof you have that they are in error, and demand they correct the credit record. Cite the above laws in your letter. Send a copy to the original creditor, also certified. If they don't fix the issue, you can and should sue the collection agency and the creditor.
the only problem with this is that collection agencies will stop trying collect a bill as per the law, but they will then sell then debt to another collection agency who will then try to collect, and the process starts all over again. many times bills have been paid to the original creditor, after it went to collections, and the bill then made the rounds of the collection agencies all trying to collect a bill that has already been paid, and there isnt much the consumer can do as everyone does their best to stay with in the law.
the only problem with this is that collection agencies will stop trying collect a bill as per the law, but they will then sell then debt to another collection agency who will then try to collect, and the process starts all over again. many times bills have been paid to the original creditor, after it went to collections, and the bill then made the rounds of the collection agencies all trying to collect a bill that has already been paid, and there isnt much the consumer can do as everyone does their best to stay with in the law.
I had a situation like this once for a credit card that was paid off years before and was never late. However, due to a computer glitch, they erroneously reported it late and then sent it to collections. It took three years to get it corrected because one collection agency sold it to another and then so on and so on. So yes, this absolutely does happen. I couldn't believe it until it happened to me.
I had a situation like this once for a credit card that was paid off years before and was never late. However, due to a computer glitch, they erroneously reported it late and then sent it to collections. It took three years to get it corrected because one collection agency sold it to another and then so on and so on. So yes, this absolutely does happen. I couldn't believe it until it happened to me.
that's terrible and scary. like I said before, your credit is your reputation financially and effects so much of your life. lower credit means higher interest rates, so that actually costs us money as well. My husband is the one who taught me about how to maintain my credit. he never takes on more than he can afford, pays his bills on time, pays off credit cards and cars when we get our tax returns, etc. and this company can just falsely report him and screw that all up.
It's interesting how Americans have just casually accepted the fact that "credit reports" - intelligence dossiers on their financial habits - can be compiled by private companies and shared with others at a profit to those companies.
Germans, for instance, do not have "credit reports" in the way Americans have allowed. If you collected that kind of information on German citizens and put it in a digital database, you'd be arrested for all sorts of privacy law violations, and would have to spend some time in prison.
But Americans don't really care as much about their own privacy, it would seem.
that's terrible and scary. like I said before, your credit is your reputation financially and effects so much of your life. lower credit means higher interest rates, so that actually costs us money as well. My husband is the one who taught me about how to maintain my credit. he never takes on more than he can afford, pays his bills on time, pays off credit cards and cars when we get our tax returns, etc. and this company can just falsely report him and screw that all up.
and that is part of the problem. anyone can falsely report a delinquent debt to the credit agencies, and the only thing you can do about it is dispute the report with the credit agency. and until the dispute is investigated, it remains on the credit report. and once the dispute is solved, it still affect your credit rating. and like i say it gets worse, as the collection agencies can also report the debt as delinquent if they buy it from the original creditor, and they try to collect, if they ant they sell it to another agency, and on and on and on, until you have spent far more than the original debt trying to correct the problem, but since everyone followed the law to the letter, you really have no standing to sue anyone over the issue since you were not "harmed" in any legal way.
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The communications company absolutely can have the information removed from your credit report, and just as you said, I'd be all over them until they do.
