Peer review: Debtor may adjust data to bureaus

[Anonymous]

Be careful what you post here, it might be read far and wide.

http://www.startribune.com/lifestyle/yourmoney/13874711.html

In answer to a question about paying off a collection, and thereby yielding a dreaded paid collection.

GW

A If the debts you mentioned went to collections, paying them off will not remove them from your credit file for seven years.

You can write to each debtor, asking it to adjust the information it is reporting to the three credit bureaus. This is known in the industry as a goodwill letter. There's no guarantee they'll agree, but it may be worth a try. Go to www.myfico.com and search under "goodwill letter.'' You will likely find some sample letters.

[haulingthescoreup]

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@Anonymous wrote:

Be careful what you post here, it might be read far and wide.

http://www.startribune.com/lifestyle/yourmoney/13874711.html

In answer to a question about paying off a collection, and thereby yielding a dreaded paid collection.

GW

A If the debts you mentioned went to collections, paying them off will not remove them from your credit file for seven years.

You can write to each debtor, asking it to adjust the information it is reporting to the three credit bureaus. This is known in the industry as a goodwill letter. There's no guarantee they'll agree, but it may be worth a try. Go to www.myfico.com and search under "goodwill letter.'' You will likely find some sample letters.

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You will likely find a whole lot more than that!

Wow, I haven't felt this much in the limelight since I accidentally used the boys' bathroom back in seventh grade.