I regularly check my Credit status on experian. I had a bit of trouble with my credit cards recently, and had to use an outside agency(through which i paid them and they split it between creditors). When I look at my report it still comes up with money owing(big money) for the credit cards even though they have been completely paid off.
I have even had money back from the companies claiming they were paid too much. The only info from the report is that the accounts are resolved. Does this mean they are paid off, and can they be removed from the report?
2007-02-07 01:27:06 · 7 answers · asked by eddie7324 1 in Business & Finance ➔ Credit
Credit records are retrospective for a few years - that is to say, they don't just show your current situation but your account behaviour over the past few years - for example if you've gone over limit or paid bills late. So this might simply be showing that there was a problem, but you have sorted it. The fact that you had money owing stays on file for six years.
Credit reports aren't updated that often either - if there's a mistake on your credit record, though, you can write to Experian and ask them to check and amend their records.
Another point to bear in mind here is that your credit score goes down a little each time it is checked - the system sees it as applying for credit too frequently - so try not to do it unless you have to, and certainly no more than once every couple of months. See the info in the link below.
2007-02-07 01:35:43 · answer #1 · answered by onefishtwofish 2 · 0⤊ 0⤋
If they are paid off, they should show a 0 balance, but they will not be removed.
If you were late on your payments, you can request that the status be changed to "paid as agreed".
Your best bet is to write a letter to the credit bureaus disputing the balance, and write a letter to the creditors requesting them to update your account to "paid as agreed". That decision would be up to the creditor, but by law they do need to update the balance on the accounts.
Negative information will typically stay on your report for 7 years, regardless if you paid it or not. Sometimes, it's actually better to not pay them.
2007-02-07 01:37:10 · answer #2 · answered by Riannaa 2 · 0⤊ 0⤋
because you're in mastercard debt already that is somewhat no longer a possibility for a short restore except you may borrow some funds to pay off those expenditures. Your credit status drops once you rack up over 50% of your accessible credit. once you've 2,000 of accessible credit you may fee on your card and consider a million,500 owed. you pick to drop below a million,000 someway to better your score. It would not happen in one day, each and every thing takes time. The extra your credit is regarded at through employing for credit you score is dropped as well. sturdy luck
2016-11-25 23:24:23 · answer #3 · answered by withy 4 · 0⤊ 0⤋
Yes , it means that they are paid off, but the record remains because in principle it records a problem. Ther is a procedure where you can add a statement if it was not really a default. Contact your local CAB for details.
2007-02-07 05:31:22 · answer #4 · answered by fred35 6 · 0⤊ 0⤋
the debts will stay on your file for a total of 5 years but it will say along side each debt that has been paid off satisfactory
2007-02-07 01:36:16 · answer #5 · answered by Anonymous · 0⤊ 0⤋
i don't think they can usually be removed. if it's saying they are resolved it means there is no out standing balance. check to see if they can be removed if they were not through fault of your own.
2007-02-07 01:34:58 · answer #6 · answered by G and T 3 · 0⤊ 0⤋
YES, GET IN TOUCH WITH THEM.
2007-02-07 18:33:05 · answer #7 · answered by Sassy 4 · 0⤊ 0⤋