Money · Advice & Questions · Oct 18

My credit report lists an account I don't recognise. Should I pay the small balance to make it go away?

Money

I found a $68 overdue account on a US credit report while preparing for a rental application. The company name means nothing to me, and the listed opening date doesn't fit anything I remember buying.

My father said, "It's sixty-eight dollars. Pay it and stop it holding you up." I could afford that. What I don't know is whether the account is mine, whether the entry is accurate, or what paying would actually change on the report. I haven't contacted the listed company or sent any money.

The application is in three weeks, so investigating feels slower than doing something visible today. But I'm uneasy about accepting a debt just because it's small. I've saved the report and started checking my own records; I haven't concluded that this is identity theft or proved that it's an error.

How would you organise the next steps without letting the application deadline turn into a promise that $68 can fix this? I'd also like a calm way to explain why I'm checking rather than following my father's quick solution.

Discussion

3 community replies

@TheoInTransit

Paying is a concrete action, but you haven't established what you're paying or what result it would produce. Start with the account details and your records. Your father's suggestion addresses the discomfort of an unresolved entry; it doesn't establish that the entry belongs to you.

@maren17

For a US credit-report error, the CFPB describes [disputing information with the reporting company and the company that supplied it](https://www.consumerfinance.gov/ask-cfpb/how-do-i-dispute-an-error-on-my-credit-report-en-314/), explaining the issue and keeping copies. Follow the relevant official process if your checks indicate an error. No correction date or rental outcome is assured here.

@northstar88

The unfamiliar company name isn't enough on its own to prove the debt is wrong. Nor does the small balance make it correct. Check what the entry says about the original account and dates before deciding what explanation fits.

My credit report lists an account I don't recognise. Should I pay the small balance to make it go away?

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