Thanks Guys!

Just an update: I was able to speak to a nice person at Aktiv Kapital, the manager of the person I originally spoke to. She did request that I send her a copy of my credit report before/after paying debt (via email). She then sent in a request to have the entries removed.

At first only one was removed, however after calling her back I was able to get a letter (reporting in error letter) and have the second entry removed as well.

The date of last activity, date of last payment or date of delinquency freezes once an account has been written off or charged off. The creditor will sometimes put the charge off or written off date on your file but if you have proof of the last payment, the credit bureau will reverse it. I stopped making all my payments on all my accounts on March/2006.I settled some of my debts with the creditors and some with the collections agencies between 2007 and 2009 and my dates of March/2006 still remain the same on my credit file.

hmmm....
i was just quickly reading this...

If you pay the collection agency the full amount, I'm pretty sure that they're going to say something like "date of last transaction"

they always have to have an update date

If the debt is settled or paid off today; the date of last payment 2006-06 will not change. The only thing that will be added is paid in full on your account.

if you made a payment today... the date of last activity would be today..
if you've waited this long than the item should fall off on june 2012...

IMO... if you paid the item today, the thing will stay on your credit report for another six years from today.

this whole item depends on if a future creditor is looking at your credit report and asking why you haven't paid the collection item...

Thanks for the advice guys! Sorry for not responding sooner.

Hey Joe, I thought that I would have reset the date of last activity as soon as I made the payment in full on my debt. From reading these forums I gathered that as soon as you make a payment you are acknowledging the debt thereby resetting the date of last activity.

Can you explain this further? If you are correct then I won't hesitate to send in my receipt as well as letter of release i received from Aktiv Kapital to equifax.

My fear was that I would be stuck with this derogatory entry for 12 years.

Thank You for your response footloose. Unfortunately my bank depends on the computer for all their requests and though i have given them the paperwork they are still waiting for my credit report to be updated.

EDIT: Hey I just read your entry in "RE: Credit report not reflecting proper information (pay debt already off the report??)". This entry really spoke to my situation. Of note is that the tradeline lists the date of last activity as 01/2006 meaning that I could potentially have both entries removed from my report in January 2012 !

If the debt was paid in full today, the date of last payment 2006-06 will not change. The only thing that will be added is paid in full.

All the bank is interested in is that this debt is paid. Dealing with Aktiv Kapital and the Credit Bureaus to get this entry removed is a colossal waste of time because the Credit Bureaus will refuse your request and Aktiv Kapital will refuse to contact the Credit Bureaus as they are the only one that can erase this entry. Present the Release Letter to your bank and let this entry purge 2012-06.

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Educating one Consumer at a time

Hello,

Recently I have been trying to clean up my debts that I accrued over several years of being a student. After going to the bank to apply for a credit card I was given a list of items which would need to be cleared up before I would be eligible.

One of these debts was a trade line from Wells Fargo in the amount of 660 $. After some research I found out the debt was in collections with Aktiv Kapital. However, there was no entry from Aktiv Kapital under the collections line of my credit report.

This is where my problem began. I called Aktiv Kapital and told them I would be paying the full amount owing and all I asked was that they did not add anything to the collections line as the debt would be falling off of my report within the year anyways.

Instead of just accepting the money from me, they double posted under my collections line.

After checking my report today this is the only thing mentioned under my collections line:

Collection Accounts

A collection account under public records will automatically purge from the system six (6) years from the date of last activity.
WELLS FARGO
Date Assigned: 2007-01 Account Number: ********
Collection Agency: AKTIV KAPITAL Reason:

Amount: $660.00 BalanceAmount: $1,033.00
Date of Last Payment: 2006-06 Date Paid:

Date Verified:

Comments:

WELLS FARGO
Date Assigned: 2007-01 Account Number: ********
Collection Agency: AKTIV KAPITAL Reason:

Amount: $660.00 BalanceAmount: $1,033.00
Date of Last Payment: 2006-06 Date Paid:

Date Verified:

Comments:

What should I do?

Dispute with Equifax, thereby making my date of last activity 03/2011 (when i made payment)?

Wait until 06/2012 for the item to remove itself?

Call Aktiv Kapital and try to appeal to their common sense/morality?

Let the item sit on my credit report and see if the bank will accept a release letter from Aktiv Kapital/Receipt from Bank stating the amount was paid in full?

My Credit Score is @ 556 as of today....