removing items off credit report

Hi Destiny -

If you pay a collection item off on your credit report, it will still show up - it will just show up as a paid collection item.

Eventually, it will drop off your report, but not right away. It could actually be a few years. Most credit reports now show exactly when an item is supposed to be deleted from your report - I recently pulled my own reports and I believe it was Equifax that showed the dates that the items were scheduled to be removed.

You can pay either the collection agency or the original creditor - if you wish to pay the original creditor, it's best to send a letter to both parties (original creditor and collection agency) showing the account information on the debt you owe, and advise them that you will be paying the original creditor, rather than working with the collection agency.

The fact that you were delinquent will remain on your credit report. The fact that you satisfied it should be added to your report. It always looks better to have satisfied the original lender. A collection agency may not even report it as satisfied!

Just wanted to say thank you for your help. As soon as I get time I want to work on my bad bad bad credit report. It looks like I found the right place.

thanx again,
Destiny

Hi, I just wanted to know if the items was delected from my credit report because of some mistake how long will my credit scores goes up.

How long do it take for your credit scores to go up...

It may take a while for your Credit score to go up. But..it willwhen bad debts 'drop off'. SUEBEEHONEY...I din't know we ACTUALLY have a choice whether to pay the OC OR the CA?

How can I get a credit item removed after it has been 7 years?

To try and answer everyone's questions...

If you are not currenly in a payment plan with a creditor, you can try to send them a PFD (pay for delete) letter to settle the account.

As far as removing items that are over 7 years old, you can dispute the credit reporting agency/bureau. Be aware though, that the creditor/coll. ag. has 180 days from that 7 year mark to remove the account. That is why people say the account will remain on your report for 7-7.5 years.

And here is an example of a PFD letter:

[quote]
DATE

[CREDITOR NAME] ATTN: Payment Investigations
ADDRESS LINE 1
ADDRESS LINE 2

RE: Item Appearing on Credit Report

Account Information as shown on Credit Report:
Acct #********
Balance: $XXXX.00
Acct. Opened ???????? XX/XX/XXXX

Dear Sir or Madam:

This letter is an offer to amicably settle the above account. It is not to be construed as an acknowledgment of my liability for this debt in any form.

I will pay your company the amount of $XXX.00 as full settlement of this account.

If you accept this agreement, I will send you a money order or certified cashiers check for the settlement amount of $XXX.00 in exchange for a full deletion of all references regarding this account from my credit profile and full satisfaction of the debt, WITHIN TEN CALENDAR (10) DAYS following receipt of payment. This agreement is binding and will be void should you not hold up to your end of the agreement. Furthermore the debt will be deleted from my credit profile at all three credit bureaus (Equifax, Experian and TransUnion), or the bureaus your company regularly reports to in the course of doing business.

If you agree to the above terms, please prepare a letter on your company letterhead explicitly agreeing to the same terms as the above settlement offer and have it signed by an authorized representative of [CREDITOR NAME], and return a copy to me. It is to be implied that this signed letter shall constitute a legally binding contract, enforceable under the laws of my state.

Notice: This agreement is restricted. This is not a renewed promise to pay, but rather a restricted settlement offer only. By not signing below, you agree that the debt has not been renewed nor have any concrete written agreements been exchanged.

Thank You. I look forward to resolving this matter in the best interest for both of our parties.

Creditors Authorized Signature: __________________________________

Date: ________________

Name: _____________________________

Title: _____________________________

YOUR NAME (Do not sign)
YOUR ADDRESS LINE 1
YOUR ADDRESS LINE 2
[/quote]

Thank you for the example.