I no longer have a card for this account. This debt has changed hands many times due to companies merging and/or going out of business. I thought paying this off would be a good thing but i have heard it will make it worse unless i get a pay for delete, but even thought i have researched this i can't figure out if it is legal to ask for a pfd.
2007-02-02 08:58:48 · 7 answers · asked by cody 2 in Business & Finance ➔ Credit
If your credit card is paid in full, then you can write a letter to the debt reporting compay with a copy of the paid in full statement for that account.
I'd also recommend you as for a copy of the report when you send the letter. If you have EVER been denied credit, you have the right to a copy of your credit report showing why you were denied.
It doesn't hurt your credit to have items paid in full. It also doesn't hurt your credit to have debtors who are paid in full removed from your report. What hurts is to have multiple credit cards open and "avaiable credit lines" beyond what your finances recommend. If you have any zero balance credit cards, you should write to them and ask them to close those accounts. They will still show up on your credit report, but they will show as closed, which means you can't charge on them.
Best of luck to you. Paying off credit is a great goal and important thing to do!
2007-02-02 09:03:51 · answer #1 · answered by Susan B 3 · 0⤊ 0⤋
Be careful and negotiate with the credit card or collection company that owns your debt. They will deal with you and give you a settlement amount that will be quite a bit less then what you owed to start with. Tell them you will pay in full just as long as they remove the charge off from your credit report, they can legally leave it there up to 7 years, make sure they agree to remove it asap after you pay. It will raise your score, but yes, you need to be making payments on something, even small ones and it will raise your credit score substantially after 6 months of on time payments.
2016-03-29 01:58:06 · answer #2 · answered by ? 4 · 0⤊ 0⤋
Just watched a Dateline show the other night about Credit Cards, a manager of the Credit Card CO. actually said "It actually hurts the consumer more with their credit score if they ask us to close the account." She said when you get the CC paid off its better to just cut up the card into tiny pieces because actually closing an account LOWERS your credit score.
2007-02-02 09:42:07 · answer #3 · answered by Melissa D 1 · 0⤊ 0⤋
Not sure about the pfd, but they will report it as negative for seven years after your last contact with them.
2007-02-02 09:04:04 · answer #4 · answered by Ralphie 5 · 0⤊ 0⤋
PAY FOR DELETION IS LEGAL.
Get to writing your letter and send it certified return receipt requested.
This is strictly for the heavyweights -- not the faint of heart!
2007-02-02 10:47:58 · answer #5 · answered by DaMan 5 · 0⤊ 0⤋
Go to "Yourcreditattorney.com" Credit repair Lawyers, they'll work a miracle for you and your credit.
2007-02-02 09:03:44 · answer #6 · answered by Bob P 3 · 0⤊ 0⤋
credit attorney and fast........... or it will ding your credit.......... crazy isnt it.................
2007-02-06 03:47:45 · answer #7 · answered by tennessee 7 · 0⤊ 0⤋