Newbie. Need help with having charge off removed

[Anonymous]

I have a $6000+ charge off on my report and im wondering how to go about having it removed. I also have student loans that appear to be repeating but are the same loans ( if that makes sense). So im wondering how to stop that from happening. Im not yet familiar with the abbreviations you guys/gals use, so help me out when explaining.

[Anonymous]

What is the charge off. More details needed.
Like date of first Deliquency
is the charge off from the original creditor or a collection agency

[Anonymous]

First National bank (Cc)
$446 written off
date opened 03/09
last reported 12/2011
First delinquency 5/09

Exeter finance
Status-written off: $7,746
date of status : 9/2014
1st delinquency 6/ 2013
Last reported 05/2015
note that says: this acct is scheduled to continue on record until March 2020

[Anonymous]

Im shaqjusth too, lol, i couldnt remember my password so i had to log on from my hubs acct.

[Anonymous]

So first National is a sleeping near. It will fall off in 2016. If you wake it it will update and ding your score.

Exeter is going to take some work. They update pretty regularly so contacting them should not be a problem for you. I would try to work out a pay for delete. Ask if you pay the balance will they delete it off all 3 credit bureaus. If you don't have this kind of cash then see if your bank will give you a personal loan. I did this to pay off a baddie and not only did I get the baddie deleted but I gained a positive installment loan history on my credit report.+2

Less attractive options for this would be letting it drop off... which since it's such a large amount it could be sent to court and a judgement could be placed.

Making payments to the collector is an option but it will not help your credit score if it only ends up showing as paid. You need it removed.

Search this site for Exeter. And for pay for delete. PFD

[Anonymous]

http://ficoforums.myfico.com/t5/forums/searchpage/tab/message?location=forum-board%3Arebuildingcredi...

[Anonymous]

Thank you. I considered making payments to exeter but if it wont help my score, ill leave it to pay all at once.

[Anonymous]

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@Anonymous wrote:
Thank you. I considered making payments to exeter but if it wont help my score, ill leave it to pay all at once.

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While making payments doesn't immediately help you score, it *can* prevent further score damage, as it could get turned over to a collector at any time, resulting in both a CO and a collection. It can then further degrade into a judgement, which will remain on your file for 7 years from the time the judgment is filed.

Just be certain any payment plan is affordable, they tend to try to push you to pay as much as possible, often more than the debtor can afford (been there, done that).

[Anonymous]

So would it be beneficial to make small payments & then when i get the full amount, ask for pay for delete.?

[Anonymous]

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@Anonymous wrote:
So would it be beneficial to make small payments & then when i get the full amount, ask for pay for delete.?

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I would ask for a PFD up front. I've no idea how amenable Exeter is to PFD's. If you can't get a PFD agreement, try to settle it for a reduced amount. Just make sure any PFD agreement is affordable.