How to remove a Credit Counseling mark on my report?

[Anonymous]

I recently refinanced my mortgage and was told that I had a "bad" mark on my report.  It was from entering into an agreement 2 years ago to pay down one of my credit cards with my credit card company (MBNA).  When I signed up for that program I thought that I was doing something good for myself and had no idea that it would leave a bad mark on my credit report!!  I paid off the balance but now left with a scar!!  How can I have it removed?? Please help!

[MidnightVoice]

Was the bad mark because of the couseling or because of late payments?  What does your credit report say about it?

And as always, how much of an effect is it having on your actual score?

[Anonymous]

I was told by the lender that it was bad because it was even on my report!  I had no late payments while paying down that balance.  But now Its on there and I have been told that it will negatively reflect on my ability to get a loan at a decent rate in the future.  Is there a way to have such a thing removed?

[MidnightVoice]

As for removal, others will chime in I am sure, but it will go in 5 years anyway, and have less of an effect as time goes by. 

 But you did manage to refinance.  Was it a good rate?  Do you have a decent FICO score apart from that one bad mark?  Do you have any immediate needs for more credit?

And what does each reort actually say?

Message Edited by MidnightVoice on 05-29-2007 10:06 AM

[Anonymous]

I did refi at 6.75% interest only. The CC was not the only issue on my reports but nothing horrible.  No Bankruptcies, no charge offs.  I had a bad episode a few yearas ago when I lost my job and no income for a few months. I was behind on bills but got cught back up. I had a couple of monkeys do my refi and they screwed up my cash out. ( It was short by $10K )   I didnt know until I was at the settlement table.  They said that I wouldnt have a problem getting a home equity loan at all because my LTV was so good.  My deed still isnt recorded ( its been 2 months ) and I cant get a loan.

[Tuscani]

Did you ask MBNA to remove the notation?

[Fancyron]

I have the same issue with MBNA (BOA) now.  I went into an agreement, paid according to the agreement, but still was getting dinged every month.  I recently faxed a letter over to MBNA to have these marks removed.  No response as of yet.  It just seemed somewhat unfair, when they offer you something and you pay according to the agreement, and they still ding you every month. 

[Anonymous]

Hey Tuscani!  Do you think asking MBNA to remove it will work?

[Anonymous]

I agree with you!!  We are in the same boat apparently!!  It would have been nice if they would have disclosed that it would reflect negatively if I participated in paying off my balance!!  Not exactly fair!

[Tuscani]

Never hurts to ask.