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Can I sue concerning a false and negative credit hit being placed on my credit report?

Here's the story. Last week i recieved a letter from a collection agency saying I owe money on a wireless bill that was closed 4 1/2 years ago. low and behold I go to my files and find the day the bill was paid using bill pay! My bank is now sending me the statement and i will send it in. The problem, I have a credit score above 720 from all three reporting agencies. It is windex spotless, or was...Now this crap is on there. Yes I can dispute the claim but it will still show up as disputed. I want to take both the credit agency and the wireless company to small claims court. It's the principal of the matter seeing how they never in the 4 1/2 years sent me any correspondence and then post me to the credit agencies. Do I have a case concerning damage to my credit scores?

This is a great list of who you can sue and for what reasons:

http://creditinfocenter.com/ebooks/poorm...

Don't think so. It's disputed only for as long as it takes to come off and be corrected. If you were able to prove damages as a result of this mistake while it was being corrected. possibly; but proving an intent to harm is going to be tough verses an honest mistake they acted in a responsible way to fix in a timely fashion.

A corrected entry will not damage your credit.
You first have to go the regular route with the reporting agencies to get it corrected. There could have been some slip-up somewhere and that is why the collection agency is trying to collect on a bill that you had already paid. If they don't accept your documentation that it has been paid and continue to report it as not paid after you have given them the proof that you paid it, then you might have a case. Hopefully you providing proof to the collection agency and the reporting agencies will be sufficient to get the blot on your credit removed.
You can dispute the claim and ask that it be removed from your credit report. Once the credit bureau does their investigation and determines it is a mistake they will remove it from your report. You can get a free sample credit repair letter at http://www.your-credit-solution.com... so you can dispute the negative item. Good Luck.
you can go to directly to the credit three main credit agencies-they have online access and write them a letter that disputes the negative report, and include your proof. They will file it on your credit history.
and Once you show the proof to the collection agency and it is resolved, have them mail you evidence that they will report the resolution to the credit agencies....keep that letter for your records should it surface again!.good luck!
When you get the proof that it was paid, send it certified mail, so they can't say they never got it. Then you can start writing to the bureaus to have the negative rating removed. As far as the collection agency waiting 4 years and then reporting to the bureaus without talking to you first, guess what? Happens all the time, and there isn't much you can do about it. Complain to the original creditor, maybe they'll stop using that particular collection agency. At least you'll get an official complaint in.
Credit counselor for a mortgage broker.