I had a credit card sent to collections on my credit. I requested a letter of deletion which would remove the collection from my credit. I paid it off in full after receiving the letter. Now my credit shows that it was removed which is good however they also closed the account which reflects negatively by alot! My credit would have gone up by paying off that debt but because the conpany closed the account totally my credit dropped a huge amount. If I send the letter to all the credit bureaus will that help? Or should I dispute the company closing the account rather than just removing from collections, which is what I requested.
Read the credit card agreement. Unless it is different thanevery other one in America,it has languagesaying they can closeit at any time. You actually did well getting them to remove an accurate negative collection. You're almost certainly not going to get them to reopen your account.
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They can close the account at any time for just about any reason. If they are reporting the account as paid and closed without showing it was in collections, that is about the best you can do. You can search for an attorney using the Avvo "Find a Lawyer" link at the top of this page.
Nels Hansen is a bankruptcy lawyer in Round Rock Texas and accepts clients in Austin, Georgetown and Pflugerville. We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code and have done so proudly since 1996. The use of the Internet or this form for communication with the firm or any individual member of the firm does not establish an attorney-client relationship. Answers provided are for general discussion only and are not to be considered legal advice and they do not create an attorney-client relationship.
The debt collector and the original creditor are not the same party. Having the debt collector agree to remove their trade-line does not force the original creditor to do anything other than report the account accurately. If they closed the account which is most likely their right to do, they can and should report the account as closed without regard to what it may or may not do to your credit score. Furnishers of credit information are required to report information accurately, not necessarily favorably to the consumer.
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