2006-07-19 14:47:45 · 7 answers · asked by maliblu_99 1 in Business & Finance ➔ Credit
you have to pay it first
2006-07-19 18:18:29 · answer #1 · answered by Anonymous · 0⤊ 2⤋
Assuming it is a legitamte charge (and not a case of identity theft, which another poster suggested) the best thing to do would be to pay it off or contact the company and discuss a payment plan if you can't afford to pay it all off at one time.
That aside, in most states, and in Canada, if there is no contact with yourself and the company in 4-7 years (varies by location) then it is cleaned from your credit report by law...however a lot of companies don't comply. By no contact I mean you don't answer their calls, don't contact them, don't reply to their mail, don't agree to any payment plan....in other words no contact whatsoever...pretend you don't exist. Your credit will tank in the short term though (credit cards may lower your limits, etc etc) and good luck trying to get anyone to give you new credit (credit cards, new phone line, cable line etc).
You could also declare bankrupty but remember that this doesn't erase all debts...most places will leave credit cards, student loans, and some other things even after you declare bankruptcy. Don't declare it unless you HAVE to.
If you have paid it off already contact the bureau/agency that has your delinquent account on their report and explain the situation to them...they will require proof that you paid it, etc.
2006-07-19 21:58:20 · answer #2 · answered by Anonymous · 0⤊ 0⤋
It is possible, depends on who you owe. I sent a letter and check to the lender. I told them this check is to be cashed under 1 condition and that was to to send the necessary information to have it removed from my credit report. After the check processed, I called the lender to be sure that they were gonna go through with my conditions and 4 months, 2 phone calls and a letter later, it was removed. If they didn't I'm not sure what my next step would have been, but I would've consulted a lawyer considering I had copies of the check, letter, and detailed info on the phone calls.
2006-07-19 22:00:32 · answer #3 · answered by Ann 2 · 0⤊ 0⤋
ARe you delinquant?? If so there are two ways out.
1. Pay it
2. Declare bankrupcy
Once the debt is paid, write a letter to the three bereaus and explain the situation. They will investigate and clear it. It will take a month or two though.
2006-07-19 21:52:38 · answer #4 · answered by billyandgaby 7 · 0⤊ 0⤋
Unless it was a case of identity theft, and even then it will be very difficult, any accounts you've had will remain on your credit report. They won't be removed, especially if they were delinquent.
2006-07-19 21:51:29 · answer #5 · answered by Sarah 3 · 0⤊ 0⤋
Pay the bill and then ask for it to be removed by the company who's account you were delinquent to.
2006-07-19 21:50:30 · answer #6 · answered by Anonymous · 0⤊ 0⤋
You're going to have to call each one and pay it off. Depending amount, then you may be able to settle with them by just paying a percentage.
2006-07-19 21:50:37 · answer #7 · answered by mabelle907 1 · 0⤊ 0⤋