topic Re: Credit report - need clarifications in Rebuilding Your Credit

Credit report - need clarifications

Anonymous — Sat, 25 Jul 2015 22:14:10 GMT

Hi all,

Newbie here, so I just pulled my credit report and below are my closed accounts. The only remaining item i need to pay off is the Midland Funding (in red). All the other accounts has ZERO balance (paid off). So my question are does the CHARGE-OFF status hurting my score, can it be deleted from the report, or do I have to wait for them to be deleted?

I appreciate for any advice.

Current Score: 624

Closed Accounts

Account Name Account Number Date Opened Balance Date Reported Past Due Status Credit Limit

BANK OF AMERICA, N.A
10/04/2007 $0 11/30/2012 PAYS AS AGREED

CAPITAL ONE / BEST B
10/31/2000 $0 12/11/2013 CHARGE-OFF $1,800

CHASE BANK USA, NA
07/18/2006 $0 01/18/2012 CHARGE-OFF $2,500

CHASE BANK USA, NA
04/01/2001 $0 05/01/2011 CHARGE-OFF $2,100

CHASE BANK USA, NA
02/01/2000 $0 03/01/2011 CHARGE-OFF $1,700

MIDLAND FUNDING LLC
05/14/2012 $1,504 07/14/2015 $1,504 COLLECTION ACCOUNT

PORTFOLIO RECOVERY A
02/28/2011 $0 05/20/2014 COLLECTION ACCOUNT

SPRINGLEAF FIN SRVCS
05/01/2006 $0 02/01/2010 PAYS AS AGREED $3,200

SYNCB/CARE CREDIT
06/01/2008 $0 05/01/2011 CHARGE-OFF $4,500

VERIZON WIRELESS/SOU
12/27/2008 $0 06/30/2014 COLLECTION ACCOUNT

Re: Credit report - need clarifications

Anonymous — Sat, 25 Jul 2015 22:21:02 GMT

You can goodwill request the paid co to delete the otems. Do a search here for goodwill letter examples.

Re: Credit report - need clarifications

credgirl — Sat, 25 Jul 2015 22:24:42 GMT

+1 Ditto

Re: Credit report - need clarifications

Anonymous — Sat, 25 Jul 2015 22:35:23 GMT

GW letter or maybe just call them and ask if they will delete? Verizon Wireless may be a tricky one to work with, best of luck!

Re: Credit report - need clarifications

Anonymous — Sat, 25 Jul 2015 22:36:58 GMT

Thanks guys. I'll look into the goodwill letters.

I'm guessing this will improve my score a little bit once it's all removed, correct?

Re: Credit report - need clarifications

Anonymous — Sat, 25 Jul 2015 22:39:54 GMT

@Anonymous wrote:
Thanks guys. I'll look into the goodwill letters.
I'm guessing this will improve my score a little bit once it's all removed, correct?

Yes, your score will improve in the long run but don't be discouraged if your score bounces up and down in the beginning, when your first start rebuilding, after some time it will settle down

Re: Credit report - need clarifications

Anonymous — Sat, 25 Jul 2015 22:54:25 GMT

@AhmedInVA wrote:
@Anonymous wrote:
Thanks guys. I'll look into the goodwill letters.
I'm guessing this will improve my score a little bit once it's all removed, correct?
Yes, your score will improve in the long run but don't be discouraged if your score bounces up and down in the beginning, when your first start rebuilding, after some time it will settle down

Thank you!

Re: Credit report - need clarifications

gdale6 — Sat, 25 Jul 2015 23:01:38 GMT

http://ficoforums.myfico.com/t5/Rebuilding-Your-Credit/GW-letter-Q-amp-A-Examples-and-GW-Success-Stories/td-p/1573680

Re: Credit report - need clarifications

Anonymous — Sun, 26 Jul 2015 03:04:03 GMT

Read the posts here for examples of Goodwill letters. I am sending you a PM for a contact at Care Credit to send a GW letter to. Best of luck on your rebuilding!

Re: Credit report - need clarifications

RobertEG — Sun, 26 Jul 2015 06:56:12 GMT

A reported charge-off becomes excluded no later than 7 years plus 180 days from the reported DOFD.

To get it removed from your credit report earlier than its exclusion date will require obtaining a voluntary deletion by the creditor.

Regarding the charge-offs that are showing $0 balance, an OC account must update to $0 if either the debt is paid OR they sell the delinquent debt.

Thus, it is unclear as to whether the CO accounts showing $0 have actually been paid......?