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How to clean it up

Posted on: 16th Sep, 2010 09:40 am
I just found out my CS is 537 I have two loans; Car and Student in good standing - what seems to be killing me is the Medical debt I have aquired in the past two year due to cancer - however - some of those where misbilled and not applicable. I have contested. a handful of others are mine and I will be paying them all off before christmas. How do I make sure they are taken off the credit report?
Hi Guest!

Welcome to forums!

Once you pay off the debts, you can ask your creditors to update the status of those accounts by informing the credit bureaus. However, your late payments won't be completely removed from your credit report. They will remain on your credit report for the next 7 years.

Feel free to ask if you've further queries.

Sussane
Posted on: 16th Sep, 2010 11:44 pm
Hello Guest. good questions. sorry about the bad news of finding out your score is so low, BUT since you have the car loan and the student loan in good standing, you are going to be ok. you just have to have a little patience.

Here is what is going to happen. If some of the med debt is misbilled or not applicable and you have disputed those items, they should get corrected if you disputed them correctly. Where did you get the info to dispute them? Did you send your dispute letters with the proper ID?

Next, if you pay off the other collections they will not be 'removed' from your credit, they will only be updated to show no balance. If you want to get these items removed after you pay them off (and you should want to get them removed even if they show no balance) you will need to dispute them. Often, disputing a collection with a zero balance will get it removed and this will help your credit profile. Since there is no balance, the collector/creditor gains nothing by responding to the dispute. When they don't respond, the item is deleted.

Hope this helps.

Sincerely,
Matt
Posted on: 17th Sep, 2010 06:52 am
Another possibility exists, too. You can certainly discuss your accounts with the creditors and request that they eliminate the debts from their reporting to the bureaus. I've seen others attempt this and fail, but some others have been successful as well.

You will want to get all documentation from creditors in writing, both before and after payment. You need to take control of the process, seeking the best of all worlds for yourself. The collectors simply want the money and they don't really care about fixing your credit standing. That's why you need to take ownership of this process.

You'll end up okay because you have the desire to do this, and apparently the wherewithall as well.
Posted on: 20th Sep, 2010 02:03 pm
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