topic Re: How to Remove Derrogatory/Closed - Paid Accounts on Credit Report? in Rebuilding Your Credit

How to Remove Derrogatory/Closed - Paid Accounts on Credit Report?

Anonymous — Mon, 16 May 2016 18:38:34 GMT

Hello everyone I am new to this forum, I am in the process of rebuilding my credit, however, I have these 4 derrogatory accounts, 1 closed-paid account, 1 open (not sure why on my credit report if authorized user and my dad removed me from authorized user status) lingering . I am wondering if anyone has any idea on how to remove them? Any help would be greatly appreciated!

4 Derrogatory accounts

-CITI

-SYNCB/CCARE1

-WI ELECTRIC

-NATIONSTAR

1 Closed-Paid account

-CB/EXPRESS

1 Open

-SYNCB/BP

Creditor Name: CITI
Last Reported: Apr 08, 2016
Account Type: Credit Card
Account Status: Closed - Derogatory
Opened Date: Jul 13, 2001
Closed Date: Oct 10, 2012
Limit: $13,200
Term: --
Monthly Payment: $0
Responsibility: Individual
Balance: $13,419
Highest Balance: $13,419
Payment Status: Collection/Charge-Off
Worst Payment Status: Unknown
Date of Last Payment: Oct 07, 2013
Amount Past Due: $7,328
Times 30/60/90 Days Late: 0/0/0
Remarks: Charge off as bad debt, Account closed by consumer
---------------------------------------------------------------
Creditor Name: SYNCB/CCARE1
Last Reported: Mar 28, 2016
Account Type: Charge Account
Account Status: Closed - Derogatory
Opened Date: Jun 08, 2010
Closed Date: Jun 21, 2013
Limit: $1,500
Term: --
Monthly Payment: $0
Responsibility: Individual
Balance: $2,048
Highest Balance: $1,076
Payment Status: Collection/Charge-Off
Worst Payment Status: Unknown
Date of Last Payment: Mar 08, 2013
Amount Past Due: $660
Times 30/60/90 Days Late: 0/0/0
Remarks: Charge off as bad debt, Profit and loss write-off
----------------------------------------------------------------
Creditor Name: WI ELECTRIC
Last Reported: Aug 15, 2014
Account Type: Utility Company
Account Status: Closed - Derogatory
Opened Date: Aug 27, 2009
Closed Date: Aug 01, 2011
Limit: --
Term: --
Monthly Payment: $0
Responsibility: Individual
Balance: $0
Highest Balance: $0
Payment Status: Collection/Charge-Off
Worst Payment Status: Unknown
Date of Last Payment: --
Amount Past Due: 0/0/0
Times 30/60/90 Days Late: 0/0/0
Remarks: Charge off as bad debt, Closed
----------------------------------------------------------------
Creditor Name: CB/EXPRESS
Last Reported: Jun 10, 2015
Account Type: Charge Account
Account Status: Closed - Paid
Opened Date: Mar 15, 2002
Closed Date: Mar 17, 2014
Limit: $540
Term: --
Monthly Payment: $0
Responsibility: Individual
Balance: $0
Highest Balance: $1,333
Payment Status: Collection/Charge-Off
Worst Payment Status: Unknown
Date of Last Payment: Jul 07, 2014
Amount Past Due: $0
Times 30/60/90 Days Late: 0/0/0
Remarks: Payment after charge, off/collection, Paid profit and loss
-----------------------------------------------------------------
Creditor Name: NATIONSTAR
Last Reported: Jun 30, 2011
Account Type: Conventional Real Estate Mortgage
Account Status: Closed - Derogatory
Opened Date: Apr 27, 2007
Closed Date: Jun 30, 2011
Limit: --
Term: 360 months
Monthly Payment: $2,058
Responsibility: Individual
Balance: $0
Highest Balance: $206,900
Payment Status: 120-149 Days Late
Worst Payment Status: 120-149 Days Late
Date of Last Payment: May 13, 2010
Amount Past Due: $0
Times 30/60/90 Days Late: 10/0/1
Remarks: Foreclosure redeemed
------------------------------------------------------------------
Creditor Name: SYNCB/BP
Last Reported: Feb 09, 2016
Account Type: Charge Account
Account Status: Open
Opened Date: May 01, 1986
Closed Date: --
Limit: $1,200
Term: --
Monthly Payment: $72
Responsibility: Authorized User
Balance: $1,441
Highest Balance: $1,449
Payment Status: Current
Worst Payment Status: Current
Date of Last Payment: Jan 06, 2016
Amount Past Due: $0
Times 30/60/90 Days Late: 0/0/0
Remarks:

Thanks I appreciate your help!

Re: How to Remove Derrogatory/Closed - Paid Accounts on Credit Report?

RobertEG — Mon, 16 May 2016 18:45:29 GMT

The normal process is to wait for expiration of the credit report exclusion period that applies to the given type of derogatory information.

Paying a debt that has associated derogs reported along the way is not basis for deletion of the derogs or the accounts.

To the contrary, the CRAs advise all furnishers not to delete information based on the debt having been paid.

You can still request the furnisher to report deletion of the derogs or account, and it is up to them to decide whehter to voluntarily delete.

The only current exception would be if a medical debt is paid via insurance. The CRAs recently agreed to voluntarily remove any derogs on such accounts.

Re: How to Remove Derrogatory/Closed - Paid Accounts on Credit Report?

Anonymous — Mon, 16 May 2016 21:57:21 GMT

any advice as what I should do?

Thank you

Re: How to Remove Derrogatory/Closed - Paid Accounts on Credit Report?

Anonymous — Tue, 17 May 2016 00:08:13 GMT

I believe you can dispute the authorized user account as its not your responsibility. For the paid accounts, shoot goodwill letters and hope it lands in the right hands or email.

Re: How to Remove Derrogatory/Closed - Paid Accounts on Credit Report?

Anonymous — Tue, 17 May 2016 00:11:28 GMT

Do you have other good accounts with the same length of history? Do a search for score drops after getting rid of old charge-offs. I haven't tried to remove any old charge offs yet, but it seems that losing the aging is far worse than the derog at this point, as they are old enough to not really be affecting your scores.

Re: How to Remove Derrogatory/Closed - Paid Accounts on Credit Report?

RonM21 — Tue, 17 May 2016 02:46:40 GMT

@Anonymous wrote:
I believe you can dispute the authorized user account as its not your responsibility. For the paid accounts, shoot goodwill letters and hope it lands in the right hands or email.

I think trying the goodwill letters is an option worth exploring also.

Re: How to Remove Derrogatory/Closed - Paid Accounts on Credit Report?

Anonymous — Tue, 17 May 2016 03:57:34 GMT

So true. I had a Credit One thats a few years old and I didnt have any positive payment history with them. I never paid at all. I got it removed because it was a charge off and wrote a GW letter and my scores dropped a lot. 21 pts on EXP and 34 on EQ. What a bunch of BS. Waiting for it to fall of TU. I plan on getting 3 AU TL's in the next month to boost me back up and because the majority of my accounts are 6 months old or less. Im going for a big car loan in June/July and need those aged accounts.

Re: How to Remove Derrogatory/Closed - Paid Accounts on Credit Report?

Anonymous — Tue, 17 May 2016 06:49:32 GMT

If they have been paid you can see if they will do a goodwill delete. For those that aren't paid you can see if they will delete if you pay. No guarantees on any of it. Otherwise you just have to wait.