Monday, February 28, 2005
CREDITWRENCH, credit repair, and collection agencies
CREDITWRENCH CEO Bill Bauer advises an indivdual who's debt was turned over to NCO:
Nor does it provide an avenue for the debtor to have the collection account deleted.
Truth is, the collection agency tradeline can legitimately stay on the credit report no matter who you decide to pay.You're better off paying the original creditor and not NCO. If you pay NCO
it will most likely stay on your credit report for the next 7 years.
Once an account is turned over for collection and reported, it cannot be removed for the reason of payment to the original creditor. How the payment is dispursed between the original creditor and NCO depends on their agreement with each other, and has absolutely nothing to do with the debtor.
Nor does it provide an avenue for the debtor to have the collection account deleted.
CREDITWRENCH stating that by paying the original creditor the collection agency must delete the tradeline on your credit report is false and misleading information.
