Removing things from your Credit Report

Thats what I did. I atually had a charge off for $7.00 on an account I thought I had paid off and closed. The $7.00 was fees that had apparently posted the same day that what I thought was my last payment was received. I had moved shortly after. Generally when I move, I don't forward my mail, I call all my accounts and give them the new address. Because I thought I had paid this account off, I never called and updated this account. They never tried to collect on it either. I guess they figured $7.00 wasnt worth the effort.

Your credit report should have at least a phone number or address to contact the Creditor. I just called asked how much was owed to make everything was right, and to verify the account would be reflected as paid. It is important to remember that it will not remove that item from your credit report, but it will change the way it is reflected on your report, for example instead of being a open charge off, it would now be a paid charge off or paid collection.

In another post, someone suggested you may be able to get the OC to agree to report it as paid as agreed, but you would need to negotiate that with them. In my case above the best I could get was for them to report it as a paid charge off, which I would think is still better than as simply a charge off.

Hi Samantha

You can contact your creditors and inform them of your desire to make the payment.

The creditors will then send you the proper calculation of the debt amount with interests (if any) and you can further make payment arrangements with them.

Make sure that you do all your correspondence in writing and that you have the proper receipts of your payments made. Send your letter through certified mail with return receipt requested so that you have a proof of your efforts made to pay the debt.

Regards
Roxette

Yes Wilson, A paid charged off debt is definitely better than an open charged off in the credit report.

Although many of us face some financial difficulties some time or the other and it gets reported in the credit report in a negative way, but paying off the unpaid debt will show our responsibility to the future lenders that we didn't try to escape our debt.

Regards
Roxette

Samantha, the first issue is you have a negative mark on your credit report that needs to come off. This must be taken up with the credit bureau's themselves.( Approaching the company does no good unless you can pay off the item or come to an agreement) Find something wrong with the item such as a date, an amount, even the company name and write a letter to have it removed on the ground of inaccuracy. You can even ask for it to be reinvestigated and leave it at that.

Your second issue is the account itself. You must contact the company and, like what others have said, work something out. MAKE SURE YOU GET A LETTER. You can use this to help remove the negative credit mark if they do not hold up their end of the arrangement.

Good Luck

what donald says is true i agree with him have something in writting so that you can too have it if they dont do what they say

I have been able to work with creditors and come to agreements so that on my credit report it reflects paid in full or paid as agreed. I had to go around and around with them, but you will eventually get them to agree to your terms. They would rather receive some money rather than none.

Yes Rhonda that is true and I need to start thinking of paying my credit off too so that I can get back on track with my life.I am in debt badly with bills and I am trying very hard to restore my credit!