Posted on: 31st Mar, 2010 01:00 pm
When sending a statement showing the item/collection has been paid in full. is there a standard letter that should be attached to the document.
Hi NICHELLEROBINSON!
Welcome to forums!
The negative item will stay in your credit report for seven years as "paid" even though you've cleared off the dues. It would have been better if you would have signed an agreement with the creditor for a pay for deletion once you pay off the debt. The creditors don't have any incentive to remove the negative item from your credit report. Thus, they aren't bothered to do so.
You can get a sample pay for delete letter from the given page:
"http://www.debtconsolidationcare.com/credit-repair/pay-for-delete.html"
Feel free to ask if you've further queries.
Sussane
Welcome to forums!
The negative item will stay in your credit report for seven years as "paid" even though you've cleared off the dues. It would have been better if you would have signed an agreement with the creditor for a pay for deletion once you pay off the debt. The creditors don't have any incentive to remove the negative item from your credit report. Thus, they aren't bothered to do so.
You can get a sample pay for delete letter from the given page:
"http://www.debtconsolidationcare.com/credit-repair/pay-for-delete.html"
Feel free to ask if you've further queries.
Sussane
Sussane is right...you've lost any leverage you once had with the original creditor or collection agency now that the account is paid. They'll just continue to report to the bureaus exactly what it is - a paid collection.
In many cases a negotiations can be made for the account to be removed faster since its been paid. 700CreditClub.com