Ask Experts Questions for FREE Help !
Ask
    mivvy's Avatar
    mivvy Posts: 1, Reputation: 1
    New Member
    		  
    #1

    Dec 16, 2010, 09:13 PM
    Amount on credit report does not match what collector is saying
    I have been contacted by a debt collection agency and the amount they say I owe is much higher than what is on a credit report I recently received. What amount is right/should I pay?
    ScottGem's Avatar
    ScottGem Posts: 64,966, Reputation: 6056
    Computer Expert and Renaissance Man
    		  
    #2

    Dec 17, 2010, 04:36 AM

    If this is an old debt you try to negotiate a settlement. I would not trust the amount on a credit report, but the amount listed by the collector has fees and interest added to it that you may be able to negotiate down.
    Fr_Chuck's Avatar
    Fr_Chuck Posts: 81,301, Reputation: 7692
    Expert
    		  
    #3

    Dec 17, 2010, 04:55 AM

    The credit report is just that a report and is often not exact.

    You owe what amount you are legally obligated to owe. You should be aware of that sum since you borrowed it.
    You may ask the lender to provide you with a detailed list of all debt to prove the amount owed if you are not sure.

    Often the report may merely show the amount before late fees, before interest and other charges.
Not your question? Ask your question View similar questions
 

Question Tools Search this Question
Search this Question:

Advanced Search

Add your answer here.


Check out some similar questions!

Can the mortgage company still report a foreclosure on my credit report ? [ 6 Answers ]

In 2005 I filed bankruptcy and did not reaffirm my mortgage. I am walking away from my house 2010 - can the mortgage company still report a foreclosure on my credit report now, in 2010, even though I am not longer responsible and it was included and is already on my credit report as forgiven back...

Can a debt collector report on a credit report that the wrong date was open [ 2 Answers ]

Your post is somewhat confusing, but this is my best guess: You opened a credit card in 2005 and defaulted on the payments. The credit card company sold the debt to a collection agency, probably in 2008, so the agency is listing their open date as 2008. You want to know if this is legal......

Should I report my 401K distribution if it's only a small amount? [ 3 Answers ]

Hello! I am 52 yrs. Old and have filed some variant of a IRS 1040 form all of my life. My income over recent years has been between $38,000 and $43,000. In 2007, I received $980.00 in an early distribution on a 401K. I am inclined to report it but am worried that I have never reported interest...

Debt Collector & Credit Report show different Balance [ 2 Answers ]

Hello, I searched before I posted sorry if this kind of situation was posted before Can a debt collector change the balance owed on a debt. I stupidly made a $1,000 payment without checking my credit report and was told over the phone along with a letter over the mail that I owed $2,127, we...

Can a debt collector DOUBLE the amount I owe? [ 4 Answers ]

Hi, I just had my Bank Account frozen by Rubin & Rothman on Friday. I was told by my bank to contact the Debt Collector and take it from there. I have been trying to understand why, if I have a judgement against me for $5500, how can my bank account be frozen for almost $11000? I am still waiting...

View more questions Search