Out-of-Service Debt
Credit Bureau Reporting
Frequently Asked Questions

1. I paid my debt in full. Why is this debt still appearing on my credit report as a charged off account?
2. I was unaware of this debt until I applied for a loan and was declined. What can I do to rectify this situation?
3. I disagree with you reporting me to the credit bureau when I never received any correspondence regarding this debt. Will you update my credit history?
4. Will your office delete the account from my credit report once paid in full?

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1. I paid my debt in full. Why is this debt still appearing on my credit report as a charged off account?

Answer:   We programmatically update information to the credit bureau on or about the 20th calendar day of each month. If you believe the information reported by the credit bureau is incorrect, please contact that credit bureau. Inform the credit bureau you would like to file a consumer dispute. Upon receipt of the agency's written inquiry we will confirm deletion was requested and return the form to them for final disposition. If you contact us in the interim, we will provide you with a letter confirming we requested deletion.
2. I was unaware of this debt until I applied for a loan and was declined. What can I do to rectify this situation?

Answer:   Once you have established a payment plan and we begin receiving monthly payments, the credit report will reflect the change in your account status. On a case by case basis, we may be able to provide a letter confirming you agreed to a repayment plan and terms of that plan.
3. I disagree with you reporting me to the credit bureau when I never received any correspondence regarding this debt. Will you update my credit history?

Answer:   By law we are required to attempt to notify you using the address provided by the debt originator. If there is a history of returned mail, we review credit reports in hopes of obtaining a better address. Once payment arrangements are made with us, in some instances, we may agree to request deletion of the credit bureau entry. Please note that if payments are not continued the account will be re-reported to the credit bureau.
4. Will your office delete the account from my credit report once paid in full?

Answer:   Our office will only request deletion if you contact us and request this action. Otherwise, your account will be reported as paid in full. Processing to delete information from your credit report takes 30-90 days. If the reporting is not deleted after 90-days, inform the credit bureau that you would like to file a consumer dispute.