CONSUMER RE-AGING ACCOUNT

[irep88]

hello, i was reading online that it is possible to reopen a charged off acount with the lender if youagreeed to pay them again and they will update all deliquencies as paid on time . is this true?

[StartingOver10]

No. Where did you read that?

[RobertEG]

Do you mean that you have already paid the debt, and some creditors will accept additional payment for deletions?

If so, that sounds very unethical.......

[irep88]

i read it on LEXINGTON LAW .com

https://www.lexingtonlaw.com/blog/credit-score/debt-reaging-credit-score.html

"Consumer Request Re-aging

The first type of debt re-aging is a welcome relief for struggling consumers. Some lenders are willing to re-age debt as an act of goodwill for loyal customers. In the wake of an economic depression, many people have become first-time members of the late payment club. If you are among this group, you may be able to fix your credit via re-aging. After finding your financial stability, ask your lender to reset your account to “current,” thereby deleting any past transgressions. Many lenders are willing to help customers who:

• Have a long-standing record of payment
• Are able to repay past due balances
• Have made at least three consecutive payments on time since the discrepancy

Use this option sparingly since “frequent flyers” won’t be taken seriously, and be sure to show your appreciation by maintaining your record of prompt repayment in the future. Such examples of derogatory forgiveness are not guaranteed, but they are a welcome credit repair solution if your creditors will play ball."

[RobertEG]

If an account that was previously delinquent becomes current, there is no need to "ask" the creditor to report the account as current.

It is required.

Current status is always simply a snapshot of the account status as of the last date of reporting.

It does not erase any prior derogs reported on the account.

One can still have a debt when the account is current, but it would no longer be a delinquent debt.

Current status has nothing to do with whether there were prior delinquencies.  The quoted blurb seems to imply that it does.

Apples and oranges.