topic Re: How to remove a Credit Counseling mark on my report? in Understanding FICO® Scoring

How to remove a Credit Counseling mark on my report?

Anonymous — Tue, 29 May 2007 14:48:36 GMT

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!

Re: How to remove a Credit Counseling mark on my report?

MidnightVoice — Tue, 29 May 2007 14:54:24 GMT

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?

Re: How to remove a Credit Counseling mark on my report?

Anonymous — Tue, 29 May 2007 14:58:35 GMT

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?

Re: How to remove a Credit Counseling mark on my report?

MidnightVoice — Tue, 29 May 2007 15:06:51 GMT

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

Re: How to remove a Credit Counseling mark on my report?

Anonymous — Tue, 29 May 2007 15:19:24 GMT

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.

Re: How to remove a Credit Counseling mark on my report?

Tuscani — Tue, 29 May 2007 16:40:24 GMT

Did you ask MBNA to remove the notation?

Re: How to remove a Credit Counseling mark on my report?

Fancyron — Tue, 29 May 2007 20:33:38 GMT

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.

Re: How to remove a Credit Counseling mark on my report?

Anonymous — Tue, 29 May 2007 22:44:17 GMT

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

Re: How to remove a Credit Counseling mark on my report?

Anonymous — Tue, 29 May 2007 22:46:36 GMT

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!

Re: How to remove a Credit Counseling mark on my report?

Tuscani — Tue, 29 May 2007 22:49:14 GMT

Never hurts to ask.

Re: How to remove a Credit Counseling mark on my report?

Fancyron — Wed, 30 May 2007 15:26:12 GMT

I'll let yall know how it turns out. I wasnt getting anywhere over the phone, so I decided to fax the request over to B of A. This was about 2 weeks ago.

Message Edited by Fancyron on 05-30-2007 08:26 AM

Re: How to remove a Credit Counseling mark on my report?

Anonymous — Thu, 31 May 2007 03:44:23 GMT

Which department at MBNA do I make a request to "remove an item" ?

Re: How to remove a Credit Counseling mark on my report?

Anonymous — Sun, 03 Jun 2007 18:20:06 GMT

Did you finish your tenure with ccc? If so call counsumer cc ask them to send a note to you and forward that to the big 3 cb. (That you are no longer in the program)

Re: How to remove a Credit Counseling mark on my report?

Anonymous — Wed, 11 Jul 2007 19:47:37 GMT

Any updates on this situation? I am in the same boat with BoA.

Re: How to remove a Credit Counseling mark on my report?

Anonymous — Mon, 30 Jul 2007 18:08:02 GMT

I decided to attack BoA via telephone (fax was ALWAYS busy) concerning this matter...the update for those who care is (drum roll) upon completing CCC program all negative comments (acct being managed by cc service blah blah blah) were removed and account was permanently closed. NO HARM NO FOUL.

I'LL TAKE IT!

Message Edited by operationHOMEownership on 07-30-2007 11:08 AM