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Collections Law/CRA reporting after settlement


QUESTION: Settled with a CA representing a bank.  The agreement states that my lump payment I made to them will "settle the account in full".  There is no other pertinent info on the agreement.

It doesn't indicate how it will be reported to CRAs.

What would they legally be required to report to CRA per this agreement?

What recourse do I have if the bank does not report it settled and a zero balance?


Based on what you are saying they would report "settle the account in full" to the bureaus. However, there is no credit score impact on the notation of settled in full, or partial payment etc.


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QUESTION: So would they also be required to report a zero balance, even though the agreement doesn't state that?

It only says settled in full.


I would think they would be required to report a -0- balance if they settled with you. I could not see it any other way. I would just make sure that the letter states that you owe them no further money and they release you of the remaining amounts.

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Chris Ebert


I can answer questions for Texas residents concerning issues that involve creditor and debtor rights. Specifically, I can answer questions concerning: FDCPA, FACTA, FCRA, and Texas state collections violations.


For the last 10 years I have worked as a Sr. Paralegal in a law firm ( that defends debtors against their creditors. I have reviewed thousands of credit reports and under the supervision of our attorney helped thousands of client resolve their credit issues.

Ramos Law Firm

BBA University of Texas at Austin

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