So I reveiw my credit reports and find this company had reported information. I was trying to go through my credit reports and pay off everyone I owed money to. I should have paid these debts on time and should have taken care of this stuff a long time ago, but I couldn't. My mistake. What didn't help was this company trying to collect a debt for a company (bank) I had never heard of and had never done business with. When I continued to write them to question this and dispute the information on my credit reports, all they would do is send me a bill. The bill continued to say they were collecting for this bank that I had never heard of. Finally, one day I decided to research this company so I could call them directly to find out what this debt was about. It was during this research that I found out that a company I had done business with was bought out by this other business. Just say, hey, they changed their name. No big deal. I would have paid this debt months ago.
They offered a deal saying if I paid like 60% of the balance, which was about 200% higher than my credit limit ever was, they would update my balance due to $0 and show the account as paid on my credit records. They have failed to do any of this. They updated my balance to show I still owe the other 40% and my credit record still shows derogatory. Great.interest and fees should not have increased the balance due by so much. It was for a credit card. I have paid all that I would have charged on the card, plus interest. The rest is all fees, so I thought the deal was fair to both parties. I would have paid my debt anyway, but they offered up lies to trick people in to paying this reduced rate.
I called them about this and they just said it takes awhile to update the credit records. Well, they took the time to update the balance, but didn't update the balance to what they said they would and couldn't reflect the account as paid, like they said they would.
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