Posted on: 17th Apr, 2012 09:34 pm
i need help… in my credit report, i find that there are 4 original creditors reporting high balances. they are charge offs and have been on my credit report since 07. i have tried working with debt settlement companies but that didn’t happen. now i want these to be removed from my credit report as i want to refinance in the near future. any advice? how should i negotiate with them?
If the collections are valid, they will stay on your report for 7 years. If the creditor will take a payoff and settle your account, you can ask them to remove you from the credit bureau, but that is at their discretion. If they are not valid, prove it to the creditor and they have to remove them. Good luck
Welcome Nonnie,
Any negative item will stay in your credit report for the next 7 years. You cannot remove it from your credit report as per your wishes. However, if your negotiate with the OC/CA, then you can go for the option of pay for delete and try to remove it from your credit report.
Any negative item will stay in your credit report for the next 7 years. You cannot remove it from your credit report as per your wishes. However, if your negotiate with the OC/CA, then you can go for the option of pay for delete and try to remove it from your credit report.
Are the debts with collection agencies now? If so, you need to determine if the accounts have been sold by the original creditors or if they've just been transferred for collection. That should be your first step in the process. Once you figure that out, then you can devise a better strategy for negotiating payment.