I have a credit card that has given me bad credit since 6 years ago. It has accumulated more finance charges since then and has been sent to a attorney.
I would like to pay it off (or settle), but I do not want it to stay on my report as negative credit that has just been "paid off". I want the entire thing removed. How do I make sure that this happens, and who do I speak with?
The credit card company or the credit report agency?
2006-08-29 13:07:22 · 11 answers · asked by princessforever 1 in Business & Finance ➔ Credit
Whomever you deal with, MAKE SURE YOU GET THE AGREEMENT IN WRITING BEFORE YOU PAY THEM. The collection agency or department will lie to you.
2006-08-29 13:10:49 · answer #1 · answered by Anonymous · 0⤊ 0⤋
Unfortunately, you cannot have legitimate negative reports removed from your credit profile. You didn't pay the card for 6 years and your credit report accurately reflects this. It doesn't matter if you pay it off now--the report details the period in which you did not pay it. If you pay it off, it will show as paid in full in your credit report, but your late or missing payments will also be there. Your credit report is used by other lenders to determine your likelihood to pay in the future based on the past--why do you think your past should be erased?
2006-08-29 13:12:51 · answer #2 · answered by surfinthedesert 5 · 0⤊ 0⤋
You can work it out with the original person you had the debt with do not call the collection agencies or the credit company. Tell them you would like to pay it off in return for. I did it and it worked make sure it get it in writing before you do anything. Just in case they don't do it you can send a copy of agreement to each of the 3 companies and they will delete it for you.
:)
2006-08-29 13:19:25 · answer #3 · answered by jodi_lynn_124 2 · 0⤊ 0⤋
Neither, the credit report will show that you did not honor
your end of the bargan for 6 years and that you are a poor credit risk.
This will stay in the report for about 7 years.
If they take you to court and win, Then they will get a "judgement" against you. These stay on your credit record for 20 years.
A bancruptcy stays for 10 years.
2006-08-29 13:15:53 · answer #4 · answered by deltaxray7 4 · 0⤊ 0⤋
you can't. it takes about 7 years for credit cards reports to clear. But it's good that you paid it off that way it show that you have a record and the longer you have a clear bill you can soon again start to get at least one good credit card that you continue to pay off consistently. that way others can see that you're responsible.
2006-08-29 16:35:22 · answer #5 · answered by law_titia 2 · 0⤊ 0⤋
The only positive way would be to repair your credit. My source explains credit quite well, they way to remove those types of reports on your credit...
2006-08-29 13:50:04 · answer #6 · answered by Anonymous · 0⤊ 0⤋
Not sure read some credit tips on this site
2006-08-29 13:11:15 · answer #7 · answered by Anonymous · 0⤊ 0⤋
you have to talk to the attorney. they can remove this negative account from your credit report, but you must negotiate with them. check this web site www.creditprofile.com for sample letters and other tips to help you with this.
2006-08-29 14:21:07 · answer #8 · answered by bianca 4 · 0⤊ 0⤋
through the credit card company - detailed info on how to do this and who to call is here> http://ebooks.interkeys.com/money/repair_credit1
2006-09-01 12:38:43 · answer #9 · answered by Anonymous · 0⤊ 0⤋
You cannot remove it form your credit report....You can clean it up......
How to Clean Up Credit Report
http://www.debt-loan-refinance-mortgage-credit.com/category/How-to-Clean-Up-Credit-Report.html
2006-08-29 23:53:45 · answer #10 · answered by iuw r 2 · 0⤊ 0⤋