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Posted in Paying Your Bills
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dtwenty3

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Just paid a collection agency but rest is being "disputed", need help understanding "dispute" status
I hope I dont make it sound confusing but this is the actual scenario...

I received a call from a Critical Recovery Servics, LLC (or some mumbo jumbo like that) and advised me that there was a complaint being filed by the Count of Los Angeles versus me for unrecovered past due bill in 2011. (i admit it was an outstanding bill and had been sent to a collection agency)

Long story short...

The amount they were trying to collect was $2,344 and I settled to pay $700 to clear the account. In my understanding I will pay the $700 so they can just stop calling and bugging and well close the account.

They reiterated that upon paying the $700 they would put a "dispute" remark on the rest and that I was not obligated to pay the rest of it and close the account in collections with Best Buy.

Can anyone shed some light in lamens terms for this?

How will it be reflected on my credit score and does that "dispute" ever close and bring my status with best buy on a clean slate? Thank you.

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Top Contributor
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A "settlement" is when your creditor agree to take a lesser amount of money on debt you owe as payment for the entire amount you owe. There would be no use to apply some type of dispute towards your file. I hope you have that settlement agreement in writting. On your report the account should have a $0 balance and it should say "settled" or "payed as agreed". Anything more I would contact the credit bureaus via letter or online dispute stating that the collections company agreed to a settlement. Send or show proof of that's why you paid the $700. Also Best Buy should give you a clean slate if it has been more that 3 years. Give them a chance to purge their records....

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