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New Visitor
gostevero
Posts: 1
Registered: ‎03-12-2008
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Paid as agreed Vs Paid In full HELP!!!!

I have 2 old 30 and 120 day past due credit card payment that are negatively affecting my credit . I have paid the off years ago , but my credit report says "Paid as agreed". Shouldn't it say "Paid in Full"?

 

Please advise.

 

 

Thanks 

Super Contributor
DI
Posts: 5,767
Registered: ‎01-28-2008
0

Re: Paid as agreed Vs Paid In full HELP!!!!

 


gostevero wrote:

I have 2 old 30 and 120 day past due credit card payment that are negatively affecting my credit . I have paid the off years ago , but my credit report says "Paid as agreed". Shouldn't it say "Paid in Full"?

 

Please advise.

 

 

Thanks 


Paid As Agreed is what the status should say.  Also, if the account is  paid in full it will give the date it was paid off.  

 

Moderator Emeritus
fused
Posts: 16,355
Registered: ‎03-12-2007
0

Re: Paid as agreed Vs Paid In full HELP!!!!

Some CRA's use different notations to say the same thing. Here they are:

 

Current

 

Pays account as agreed

 

Paid or paying as agreed

 

All of these notations are "positive". Unless things have changed, I'm not sure I've seen "paid in full" before

 


Credit Profile -
FICO 08 Scores (08-22-2014): EQ 820, EX 817, TU 815
All three scores were 850. Lost points for not having an open installment TL. So, BE WARNED!!!!!
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Super Contributor
DI
Posts: 5,767
Registered: ‎01-28-2008
0

Re: Paid as agreed Vs Paid In full HELP!!!!

 


fused wrote:

Some CRA's use different notations to say the same thing. Here they are:

 

Current

 

Pays account as agreed

 

Paid or paying as agreed

 

All of these notations are "positive". Unless things have changed, I'm not sure I've seen "paid in full" before

 



Exactly. The only time a person see the words 'in full' is when an account has been satisfied in full.  That is negative. 

 

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minimizedamage
Posts: 2
Registered: ‎03-31-2011
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Re: Paid as agreed Vs Paid In full HELP!!!!

[ Edited ]

I have a $9,500 credit card balance that will go 90 days past due on on April 5.  I have received a settlement offer for half of this, but am concerned about it saying "settled for less than..." on my credit report if I do this especially if I want a house loan in a few years.  As I understand it from reading posts in this and other credit-related forums, it is possible to get "settled for less than..." removed from my credit report, but I would have to wait for an innacuracy (e.g., misspelling), untimely, misleading, incomplete, ambiguous, unverifiable, or unclear (questionable) to appear on the report.  As others have stated on other forums, up to 80% of all credit reports show inaccuracies or something I can use to dispute the TL--This seems promising and would suggest that there is a high likelihood I will find something that would allow me to dispute the TL so that I wouldn't have to wait 7 years for it to fall off my credit report. How likely is it really to be able to remove a "settled for less than.." from my credit report within a few years or so, and if not, why not, especially given the high likelihood for inaccuracies in the report to dispute against?

 

The other option is to pay the entire balance completely, which may be possible with the help of a friend.  However, if  I pay the complete $9,500 balance on the account, the credit card company rep says that it will be reported as:

 

"-0- balance

R01 paid as agreed

account closed

paid up to date"

 

Is this the best way for it to be reported to minimize a negative impact (or maximize a positive impact) on my credit rating, and if not, what is the exact wording of the report I should request the credit card company use?  Is it worth getting a written letter from them confirming that this is how it will be reported?

 

Thank you.

Super Contributor
DI
Posts: 5,767
Registered: ‎01-28-2008
0

Re: Paid as agreed Vs Paid In full HELP!!!!


minimizedamage wrote:

I have a $9,500 credit card balance that will go 90 days past due on on April 5.  I have received a settlement offer for half of this, but am concerned about it saying "settled for less than..." on my credit report if I do this especially if I want a house loan in a few years.  As I understand it from reading posts in this and other credit-related forums, it is possible to get "settled for less than..." removed from my credit report, but I would have to wait for an innacuracy (e.g., misspelling), untimely, misleading, incomplete, ambiguous, unverifiable, or unclear (questionable) to appear on the report.  As others have stated on other forums, up to 80% of all credit reports show inaccuracies or something I can use to dispute the TL--This seems promising and would suggest that there is a high likelihood I will find something that would allow me to dispute the TL so that I wouldn't have to wait 7 years for it to fall off my credit report. How likely is it really to be able to remove a "settled for less than.." from my credit report within a few years or so, and if not, why not, especially given the high likelihood for inaccuracies in the report to dispute against?

 

The other option is to pay the entire balance completely, which may be possible with the help of a friend.  However, if  I pay the complete $9,500 balance on the account, the credit card company rep says that it will be reported as:

 

"-0- balance

R01 paid as agreed

account closed

paid up to date"

 

Is this the best way for it to be reported to minimize a negative impact (or maximize a positive impact) on my credit rating, and if not, what is the exact wording of the report I should request the credit card company use?  Is it worth getting a written letter from them confirming that this is how it will be reported?

 

Thank you.


An R1 which is Paid as Agree is a good deal.  Do get it in writing before giving them anything.  Will they remove the late payments?  If they're willing to list it as a R1 they can just go ahead and delete it. 
New Visitor
minimizedamage
Posts: 2
Registered: ‎03-31-2011
0

Re: Paid as agreed Vs Paid In full HELP!!!!

Hi DI,

If it's possible to get rid of a "settled for less than..." then I would take the settlement offer.  But, if it's unlikely, then there's a good chance I'll be able to get the full amount. I spoke to the guy today, and he agreed to send a letter in writing confirming that it'll say:

 

"-0- balance

R01 paid as agreed

account closed

paid up to date"

 

"Will they remove the late payments?" 

By "remove late payments", do you mean take the amount of the late payments off the balance that I owe? (The rep I spoke to said that they can remove several late payments worth of charges from the balance).  Or, do you mean to take off any reports of the account being late to the credit bureaus?  I'm still with the original creditor--How easy is it to request that they remove the late payments remarks off the credit reports?  Is it realistic to have all the late payments remarks removed from the credit reports? 

 

"If they're willing to list it as a R1 they can just go ahead and delete it."

So, it's better to have it deleted than to say R1?  I didn't ask them, but if it looks better, I'll ask them to delete it. 

 

There is "late by 30 days",  "late by 60 days" and "account closed by grantor" remarks that they reported.  Would they likely remove these in exchange for paying the full balance if I asked?

 

Thank you in advance.

Super Contributor
DI
Posts: 5,767
Registered: ‎01-28-2008
0

Re: Paid as agreed Vs Paid In full HELP!!!!

 


minimizedamage wrote:

Hi DI,

If it's possible to get rid of a "settled for less than..." then I would take the settlement offer.  But, if it's unlikely, then there's a good chance I'll be able to get the full amount. I spoke to the guy today, and he agreed to send a letter in writing confirming that it'll say:

 

"-0- balance

R01 paid as agreed

account closed

paid up to date"

 

"Will they remove the late payments?" 

By "remove late payments", do you mean take the amount of the late payments off the balance that I owe? (The rep I spoke to said that they can remove several late payments worth of charges from the balance).  Or, do you mean to take off any reports of the account being late to the credit bureaus?  I'm still with the original creditor--How easy is it to request that they remove the late payments remarks off the credit reports?  Is it realistic to have all the late payments remarks removed from the credit reports? 

 

"If they're willing to list it as a R1 they can just go ahead and delete it."

So, it's better to have it deleted than to say R1?  I didn't ask them, but if it looks better, I'll ask them to delete it. 

 

There is "late by 30 days",  "late by 60 days" and "account closed by grantor" remarks that they reported.  Would they likely remove these in exchange for paying the full balance if I asked?

 

Thank you in advance.


 

You credit score will still take ding if the payment history show late payments. As the late payments age the affect it has on your credit score lessens.  But maybe you'd be asking them for too much if you ask them to remove the late payments now.  Just wait until you get the original agreement in writing first. 

 

If you have older accounts than this one, having the account removed all together is better if they're not willing to remove the late payments. 

Super Contributor
CS800
Posts: 6,548
Registered: ‎04-07-2008
0

Re: Paid as agreed Vs Paid In full HELP!!!!

So if a card was closed because of some lates but im still making payments on them.

 

My lates were back in 2007. Once the account is PIF, will it become a positive acount?

 

Right now they are listed as negative accounts; although it sayd Pay as agreed in the current status.

 

 




Valued Contributor
android01
Posts: 1,207
Registered: ‎09-22-2009
0

Re: Paid as agreed Vs Paid In full HELP!!!!

[ Edited ]

 


CS800 wrote:

So if a card was closed because of some lates but im still making payments on them.

 

My lates were back in 2007. Once the account is PIF, will it become a positive acount?

 

Right now they are listed as negative accounts; although it sayd Pay as agreed in the current status.

 

 


 

The lates you have on this account will report late even though the account is closed, and it will still report as a negative account even after you pay it in full.  This account will stay on your credit report for ten years from the time it was closed by the creditor, I believe.  If not it will report for ten years from the date you make it to a zero balance.  Although it will negatively affect your credit score, as it gets older, the impact will lessen, especially if you continue pay your remaining open accounts on time. 

 

 

EDITED TO ADD that my assumption is that the lates you mention are 30 or more days late and have reported as such on your credit report.

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