My husband just paid off every single debt that was on his credit report, and one of the companies said they refuse to take there report off his credit. Why would that be?
Its done and over with.... how do we get all these things off his credit report now?? It says either closed or charge-off.
There are 3 things that were paid off without missing a payment, we want to keep those on there, but then the ones he just paid off hes never made a payment on before, so they are all KD on every month for about the past 3-4 years......
Help!
2007-02-09 23:38:34 · 10 answers · asked by mrs. ruspee 3 in Business & Finance ➔ Credit
They will automatically come off in 7 years. You can't have them removed. You should have negotiated with the creditor about taking them off at the time you paid them.
2007-02-09 23:47:37 · answer #1 · answered by Anonymous · 0⤊ 1⤋
Bad credit and charge offs, even paid, remain for 7 years (see "running of the reporting period" of the Fair Credit Reporting Act). However, there are a few things you can do to improve his score. Anything that's over and done with won't help. You need to establish new credit, preferably 1-2 revolving credit accounts, as soon as possible. Open a secured credit card and pay it on time. Keep the balance low. Over time your score will grow but it will take time.
2007-02-10 07:55:59 · answer #2 · answered by Kevin K 3 · 0⤊ 0⤋
They won't remove anything, but should update each account with the fact that the debt is paid. You can request to have it removed, by the credit reporting agency, but they don't have to do it either.
By the way, a "charge off" means that they have already settled this debt internally as an uncollectible debt. That needs to be changed immediately to show that you paid.
Go to http://www.annualcreditreport.com to retrieve your credit report for free. Once there, you can make change requests, report errors and the like. I have had a lot of success with this, but you must contact the credit agencies - the companies don't care one way or the other.
2007-02-09 23:52:38 · answer #3 · answered by Anonymous · 0⤊ 0⤋
I'm no financial advisor but what I have learned from experience and my job might help. Unless there is something fraud on your credit will it be removed. They have to keep that on there for other lenders to see your history. Just because you are on the right path now doesn't mean that you are low risk to banks and lenders. All you can do is keep doing what you are doing and time will heal.....I know its cliche and not what you want to hear but you have to earn back trust like you do with a loved one.
One way you can start improving your credit score is keep open credit cards you have had for a long time and just cut them up. One thing lenders look at it your revolving utilization percentage. If you have $20k in available credit and you are using $15k that is high revolving utilization which is high risk. Keep it down by having credit cards with no balances. You can open them just cut them up so you don't use them. Don't open too many because you may loose track of what you have and if it gets in the wrong hands.......Like I said, I am no Financial Advisor but this is what I have learned through experience. Good Luck!!
2007-02-09 23:58:45 · answer #4 · answered by blerica132001 1 · 0⤊ 0⤋
the only thing to do is to dispute any errors. They will be deleted. But as every one else has said bad credit does not go away. All vendors must report accurately. The Fair Credit Reporting Act makes them do this responsibly for every one when they report
2016-03-29 00:45:58 · answer #5 · answered by Anonymous · 0⤊ 0⤋
they wont take the item off your credit report, but it should report paid. you will see your credit score go up in a couple of weeks after paying it. if it says charge off and you paid it, they need to change that because that means they stole you money. you may want to consult a credit counselor to give you some better advice. good luck!!
2007-02-09 23:48:22 · answer #6 · answered by Angie B 3 · 0⤊ 0⤋
Recently settled issues will take time to get rid of. It's up to the credit provider whether or not they want to call and recind the bad report. You can however call the three reporting agencies and dispute the entries.
2007-02-09 23:48:45 · answer #7 · answered by Ricky J. 6 · 0⤊ 1⤋
refer to Dave Ramsey's website. He teaches Financial Peace and has an entire section on getting out of debt and how to resolve issues you just addressed. He is also on many radio stations around the country, based out of Nashville, TN. You can go to his website daveramsey.com
2007-02-10 00:09:55 · answer #8 · answered by Anonymous · 1⤊ 0⤋
make sure they said that you have cleared the debt, then be patient, and if you can, budget well and give them any more money to make
2007-02-10 00:24:43 · answer #9 · answered by Anonymous · 0⤊ 0⤋
Que será será
2007-02-10 01:08:43 · answer #10 · answered by Pedro M 2 · 1⤊ 1⤋