Should I Pay Off A Debt That Is Not Mine To Get It Off My Credit Report?

No. That’s blackmail.

If you don’t owe the debt then you should not pay it off. There is a cheaper solution.

Dispute it under the Fair Credit Reporting Act (FCRA) to the credit reporting agencies – Equifax, Experian, Innovis, and Trans Union – and tell them you do not owe the debt. Copy the debt collector or the creditor who is reporting this debt on you.

But what if the credit agencies don’t remove it? What can you do then?

Either dispute it again and give them a second chance or sue them. In this article we talk about the advantages of filing suit under the FCRA.

One thing to keep in mind is that many debt collectors and creditors will “park” an account on your credit report that is not yours. They do this because they know that you will need to pay off the account at some point. One federal judge has even commented that putting accounts on credit reports is one of the most effective ways to “wrench” a payment out of a consumer.

So don’t give in to this type of illegal blackmail. If it is not your account . . . dispute it. If it gets removed then great. If not, then consider suing.

Let us know if you live in Alabama and have any questions about credit reporting. You can call us at 205-879-2447 or contact us online here.