Hi experts.
Unfortunately I just found out that I had a very small obscure student loan that went into repayment last month and I missed the bill. I switched addresses and somehow forgot to have them forward that loan to my new address :( So I checked my credit report and it's there reported as an adverse account and it says TransUnion says it will not be taken off until 06/2014.
However it seems like I've heard of other people getting these things removed from their report after they pay the amount overdue. Is this something I'm just imagining or can I really pay the amount due and then have the error removed from my credit report?
Thanks so much for your help
2007-10-01 05:40:43 · 7 answers · asked by Curt F 1 in Business & Finance ➔ Credit
Once an update is made on a trade it will stay on there for up to 7 years. If you only missed 1 payment then it will probably show up as 30 days del. Which truthfully is nothing. If you have really good credit, that shouldn't even faze it. You can always dispute it with the creditor and with the credit reporting agencies. If that doesn't work (because legitimately, its not a valid dispute), you are allowed 45 words on your credit report and you are welcome to state your claims. It does not change your credit score and most systems set up to determine credit will ignore it, but like I said, 1 30-day del mark on your credit will not even effect your score enough to change a potential interest rate on a mortgage/loan so I wouldn't sweat it too much.
2007-10-01 05:47:42 · answer #1 · answered by Anonymous · 0⤊ 0⤋
Yes will time it will drop off. If it was paid off but in default it stays on your credit report a long time. I think it is 9 years, the shortest time before it drops off would be 7. Best way to get your answer is take to one of the credit reporting companies. Get a free credit report and then inquire with that company about the length this paid debt will affect your credit. Good Luck!
2016-03-19 03:11:35 · answer #2 · answered by Jane 4 · 0⤊ 0⤋
Send them a CMRR letter and make an offer to pay the account balance in full if they immediately report you "current, never late".
As soon as you get that letter from them, send the payment.
If they don't update your TL you might have a cause of action against them for breach of contract.
Debtorboards.com should be able to help you. Go there.
2007-10-01 06:02:54 · answer #3 · answered by Anonymous · 0⤊ 0⤋
People have heard a lot of things ,
Elvis is alive , the moon landing was shot in Nevada ,
But , even though you can dispute it ,
They only Remove False info .
If it was Not your loan , it may be gone .
Otherwise , data is on for 7 years from the date of the last activity .
>
2007-10-01 05:47:11 · answer #4 · answered by kate 7 · 0⤊ 1⤋
They only way you can have adverse credit removed from your credit is to get the creditor to report to the credit agencies that the account has been paid in full or have them put it as satified. I would also have the creditor send you a letter stating that the account has been paid in full and send proof to the credit agencies as well alone with a letter explaing what happened.
2007-10-01 05:48:45 · answer #5 · answered by smiley20903 2 · 0⤊ 1⤋
You can ask to have it removed but they dont always do it. They can tell you to jump in a lake and it becomes your loss.
Good luck.
2007-10-01 05:46:17 · answer #6 · answered by Anonymous · 0⤊ 0⤋
As long as the information is correct and you were late, there is no way of removing this information.
2007-10-01 05:47:04 · answer #7 · answered by ? 7 · 2⤊ 2⤋
call TransUnion and dispute it. it could happen, but then again, it might not.. Hate to say this, but, late is late.
the worst they can say is no... find out and see what happens
2007-10-01 05:46:52 · answer #8 · answered by Mr. Cellophane 6 · 0⤊ 0⤋