how do I get creditor to delete file after settlement?

Question

owe 460 or so. they will settle for $370 but I want the credit line deleted instead of updated with paid and that making it start over again showing a bad account for 7 more years.

Answer 1

first it does NOT start all over again when you pay. second you need to negotiate for a deletion if you pay and get it in writing before you pay. don't be surprised if they say no as the information is correctly reported and they do not have to. get it in writing before paying.

Answer 2

You have to get it in writing. Make sure they give you the letter that they will remove the account before you make a settlement. Then if they do not remove it, you can forward the letter to the Credit Bureaus and dispute the information. If they will not give you a letter, it is of course better to show paid then not paid at all. The account stays on your credit profile for 7 years from the last date of activity.

Answer 3

That is something you would have to negotiate with the creditor and definitely get in writing. They rarely do it. They will report to the credit history reporting agencies as a "charge write off." Meaning debt paid but not in full. A settlement was made. Again, the only way to do what you are asking is the creditor has to agree to it and you must get it in writing to prove to the credit history reporting agencies.

Answer 4

You can ask but don't be surprised if they say no. Get the settlement in writing and don't give them access to your bank account.

The 7 year reporting period DOES NOT start over when you pay. It will still fall off 7 years and 180 days from the default date.

Answer 5

I'm pretty sure you have to get them to send you a letter in writing with it signed stating that they will delete it, and some companies will do that. God Bless!