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The bad debts probably came from late payments?
If so, then the creditor reports that you were late to the credit bureaus.
Therefore, it will stick with you for 7 seven years. As a result, you should try to ask the creditor to kindly take off the late payments of your credit report.
If not, you can go directly to the credit bureaus and file a dispute. They have like 45 days more or less to verify. If they can't, they'll release it. I'm actually having a similar problem now because I had a 3 school loans and left the country and late for all 3! now it's on my credit report for 7 years :(....
I'm actually in the same process,.... I'm going to write a letter to the credit asking for forgiveness out of "good will"....
Hope this helps.
Ciao!
Wiki User
∙ 12y ago
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What can you do to help clean up debts on your credit report?
Besides paying your debts off or filing bankruptcy if you are unable to pay off these debts there is nothing you can really do to clear them from your credit report. Most debts stay on your credit report for seven years.
How do you fix your authorized credit report?
Pay off your debts or wait til they fall off your report (it should say how long they will remain on there). Then get a credit card and pay it off in full each month. That will make your credit improve dramatically.
How does one get mortgages with bad credit ratings?
The first thing you should consider is trying to get your credit in better shape. Obtaining a credit report, working with a credit counseling service and paying off old debts will certainly make your eligibility for a home loan more of a reality.
If you pay off all debts on the credit report will your score go up?
You didn't really explain what you mean by "all debts". Paying down (or off) your revolving debt CAN cause your credit scores to increase. Paying off bad debts, like collections and charge offs will not necessarily (immediately) raise your credit score, although it helps in the long run. It depends on what you have owing and what the overall picture is. Do some research to see what would be in your best interests before you start writing checks.
How can someone improve a poor credit rating?
A person's credit rating can be improved by paying off old bad debts or unpaid bills that may be affecting your credit rating. Some companies will give people with poor credit a credit card to clear all old debts and consolidate their debts into one payment.
What can you do to help clean up debts on your credit report?
Besides paying your debts off or filing bankruptcy if you are unable to pay off these debts there is nothing you can really do to clear them from your credit report. Most debts stay on your credit report for seven years.
How do you clear your credit report?
The short answer is the only answer one. You have to pay your debts off.
You have paid off all your debts how long does it take the credit reporting agencies to reflect this?
If you have paid off all your debts, and your credit report is not reflecting this then it is up to you to make sure that this is updated.
How do you fix your authorized credit report?
Pay off your debts or wait til they fall off your report (it should say how long they will remain on there). Then get a credit card and pay it off in full each month. That will make your credit improve dramatically.
When filing bankruptcy what do you do with creditors that 'drop off' your credit reports before you file?
Your credit report is irrelvent. Certainly many debts are not on one. If you owe the debt, report it.
How does one get mortgages with bad credit ratings?
The first thing you should consider is trying to get your credit in better shape. Obtaining a credit report, working with a credit counseling service and paying off old debts will certainly make your eligibility for a home loan more of a reality.
If a collection account isn't a credit card does it fall off your credit report immediately once it is paid?
No. Negative entries concerning all creditor debts remain on the consumer's credit report for the required 7 years.
If you pay off all debts on the credit report will your score go up?
You didn't really explain what you mean by "all debts". Paying down (or off) your revolving debt CAN cause your credit scores to increase. Paying off bad debts, like collections and charge offs will not necessarily (immediately) raise your credit score, although it helps in the long run. It depends on what you have owing and what the overall picture is. Do some research to see what would be in your best interests before you start writing checks.
How can someone improve a poor credit rating?
A person's credit rating can be improved by paying off old bad debts or unpaid bills that may be affecting your credit rating. Some companies will give people with poor credit a credit card to clear all old debts and consolidate their debts into one payment.
Why is a charge off so bad on a credit report?
A charge off is a term that refers to an amount of debt that is unlikely to be paid back. A charge off is then listed on a person's credit report and also on credit bureau reports. A charge off is a bad thing to have because it can make obtaining credit, either secured or unsecured, much more difficult.
When do old debts fall off your credit report?
They don't! you actually have to pay them. Wrong! Negative information can only report on your credit report for 7 years from the DOFD and 7 to 10 years for Tax liens. Only information that stays on your report indefinitely is a criminal convictions
How long does it take an unpaid bill to come off your credit?
Charge offs and most other defaulted debts are expunged (or should be) from a credit report seven years after the DLA.
