Pay your bill and ask them to update your credit file to reflect that the debt is no longer outstanding.

Once again, reference Raymond's post on Nov 11th/08 for an excellent explanation surrounding the 'Date of Last Activity"

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This issue needs to be straightened out.

I spoke with the legal depts of both credit bureaus because many definitions of the terms they use are ambiguous to say the least. Anyone else (and that's just about everyone) who's confused about their policies should do the same.

The information drunkbeerguy gives is incorrect. It doesn't make any sense that paying off a debt will harm your credit. Conversely, it may not help it much if it's already R9, but it's not going to hurt it either. Obviously, some stuff was misreported on his credit files due to incompetent or lazy collectors and was not later corrected.

On both the TransUnion and Equifax reports, the "date of last activity" on an account doesn't change once it goes into default with original creditor as I mentioned yesterday.

However, the term may be used by Equifax somewhat ambiguously. Sometimes it refers to the date of last payment with the original creditor; other times it refers to the date of write off. The variation exists because, as long as the account remains with the original creditor, it gets included under the "trade" line section and a creditor might classify any of these actions as a "last activity." Only when the account gets sold off and goes to external collection is there a dual entry under the "collections" section of the report

But the key thing is the "date of last activity" is always supposed to refer to the date of default with the original creditor and thus remain invariant. Regretfully, this doesn't always happen because of collection agency abuses and ignorance etc. - but that's the way it's supposed to be.

For example: Suppose I have a line of credit that goes into default with BMO in 2003.

If I make a payment on it today, whether in whole or in part, that DOES NOT change the "date of last activity." And so, irregardless of whether I pay it off or not, it's going to come off the "trade" section of both of my credit reports in 2009, not 2014!

Now suppose the same BMO delinquent line of credit is later purchased by a debt buyer. In this case, the account will be also listed in the "collections" or "public records" sections of the TransUnion and Equifax reports respectively. There, the debt will have attached to it a debt buyer's reference number (usually 6 or 7 digits) which identifies the details of the debt when it was with the original creditor. It will also include the "date of last activity" on the account which doesn't change irrespective of any subsequent payments made on it.

In this case, if the same BMO line of credit which originally went into default during 2003, is bought up by a debt buyer in 2007 and I pay it off in 2008, the account is still supposed to go off my credit reports in 2009, not 2014!.

Please note: I made a small error yesterday with regard to something I told blogger "digimoose." It unfortunately occurred because Equifax has misleading info on their website policy page concerning the orderly payment of debts.(OPD). As well, information given to me in previous conversations with staff was partially incorrect. Their 3 year OPD reporting rule only applies if the original debt was less than 3 years old. If it's more than that, the 6 year limit prevails. Digimoose had a defaulted debt whose date of last activity was in 2004. I told him that if he paid it off tomorrow, the debt would come off his TransUnion Report in 2010 and his Equifax report in 2011. Thus it should also come off his Equifax report also by 2010, not 2011.

Again, it's entirely possible that once a debt is paid to a debt buyer or collection agency, they may erroneously shunt the "date of last activity" on the account forward. When that happens, you have to contact the credit bureau with the account's reference number which will yield the true "date of last activity" and thus force the bureau to make the necessary correction.

Those wishing confirmation or further details should contact

TransUnion Legal at

privacy@transunion.ca

OR

Equifax @ 1-877 323-2598

Ray

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You can try a pay for delete. If that doesn't work then you can try to settle or if you can wait 3 years then wait it out. They will most likely post your payment as the last day of activity and it will stay on from 6 years from that date.

If you settle your debt, have them agree in writing that they won't change your date of last activity. The removal of the debt won't happen and worst case scenario it will remain in your credit file for another three years.
.

what about having them agree not to change my last date of activity on my credit report? I've been told that once i pay, they can update my credit report so it says "settled" without updating the date so it comes off sooner. On the other hand I've been told that once i pay regardless, the date will be updated on my credit report and it will not come off for another 6 years.

I don't want to have this on my credit for another 3 years but i also don't want this to start fresh on my report for 6 years moving forward. Can someone who knows for fact, please confirm if collection agencies can update your file without reporting the date?

I wouldn't give them more then 50% on your Rogers debt. If they agree, make sure you get the settlement offer in writing and faxed to you before you hand over your money. I would also state to them; you want the release letter faxed to you after you make the payment within a few business days. Once you get the release letter, make sure you update your credit files right away, if this item is showing in your credit file.

Hello,

I have 1 item in collections from rogers for $500 whichis almost 4 years old now. This was sold to 2 collection companies, the last was Iqor who i was currently working on settling the debt for 200-300 dollars. I sent them a counter settlement offer letter and when i called to follow up they said Rogers has taken the debt back so contact them.

After speaking to Rogers they told me they have now given my debt to Global collections. Can anyone give me info on this company and how to deal with them? this debt is small i simply want to resolve it for as cheap as possible. Will they be more or less negotiable then Iqor? Please advise.