0
Is it better to have an account removed from your credit report completely or to negotiate for 'Paid As Agreed'?
Wiki User
∙ 8y ago
In the case of a collection account, it is always in your best interest to have the tradeline completely removed from your credit report as opposed to having it show paid.
If the account is NOT a collection or P&L, then the opposite may be true. Let's say you have a credit card with 6 late payments being reported to your credit history. You negotiate with your creditor to have all the late payments removed from the tradeline, showing that it has been paid as agreed, never late. This would be better then to have the entire tradeline removed, as the now clean payment history will help to raise your FICO score. Having it removed will not have as positive an effect. You will lose all the credit history associated with the tradeline, as well as (if it is a revolving account), available credit. Not having sufficient credit history can be just as detrimental as having bad credit.
Hope this helps!
Wiki User
∙ 8y ago
Add your answer:
Earn +20 pts
Can the original creditor agree to recall the account from collections who is reporting it once it is paid in full in effect having it removed from the credit report?
Negative entries will remain on a credit report until the required time period of seven years has elapsed. Neither the original creditor nor a collector can have the entry removed, but it can be noted as "paid as agreed", "paid in full" "satisfied" and so forth.
Can a credit card company charge off an account when they are receiving monthly payments?
Yes, if the monthly payment is not the minimum amount agreed upon, a breach of contract has occurred on the part of the account holder and the creditor may take whatever action they decide is warranted.
If a credit card account has been closed what is the obligation in paying off the remaining debt?
When you signed up for the credit card you agreed to pay for any debt that you incurred. If your promise is worth anything, you are obligated to pay your debt. Failure to pay the debt will probably result in legal action by the credit card company and no doubt will result in a bad credit rating, making future loans more difficult. If you don't pay the debt, they will get you. At some point in the future, you will wish that you had paid the debt. The outstanding balance and any applicable interest or fees will remain valid until paid as agreed. If the account holder defaults on what is owed, the creditor can remand the account to collections and/or pursue legal options such as arbiration or a lawsuit.
What is DD on bank statement?
Direct Debit - when a payment is made to a person/company direct from your bank account (eg an electricity bill). These things have to be formally agreed and set up before they can be used. Saves you writing a check/cheque and posting it off.
What is the difference between a savings account and a fixed deposit account?
A Fixed Deposit Account is one in which the customer deposits a big sum of money (Usually a few thousands and upwards. There is actually no limit to the amount of money you can deposit in a FD) for a fixed duration of time (Atleast 3 months or higher). Since you agree to keep the money deposited with the bank for a fixed/agreed upon duration, the bank gives you a very good interest as payment for keeping the deposit A savings account is one in which customers save their monthly savings and they are not like the current account. Though the money is available at any time for the customer to withdraw, money is not as frequently deposited/withdrawn from it like the current account. Hence banks offer a meager interest rate for the money held in this account
Which Egyptian leader first agreed to negotiate with Israel?
Sadat
Can a person add to a loan if it has a co signer And the co signer agreed to only that one amount?
No they cannot add an account if the co signer only agreed to one account.
When did Confederate President Jefferson Davis agree to negotiate the end of the war?
Confederate President Jefferson Davis held a cabinet meeting on April 13, 1865. At that meeting the cabinet and Davis agreed that it was time to negotiate with Union General Sherman to agree to surrender terms.
If you made late payments due to medical reasons can that be removed from your credit score?
Fair Credit Reporting Act requires that the creditor report your payment status accurately. That means that if you agreed to pay a certain amount on a certain day, then your account is "paid as agreed". If you miss a payment for any reason other than bank error, the account has not been paid as agreed no matter what the reason for the late payment. If you have medical issues that prevent timely payment, the best arrangement would be to make arrangements with the creditor prior to the conditions of the agreement not being met.
Did Robert Morris support the bill of rights?
yes, he agreed completely with the Bill of Rights. He signed it.
What does insufficient number of accounts paid as agreed mean?
This means out of the total number of accounts you have, you have not paid on enough of them as agreed when you where issued the account. Example would be late payments.
How to get money from a check with no funds?
If a cheque is drawn on an account which has no funds in it then the bank is not obliged to honour it. In fact, unless the account has an agreed overdraft facility they won't honour it.
Is it legal for a credit card debt collection co to ask for payment over the telephone then ask you for your routing number and checking account information?
It's completely legal, if you've agreed to make a check payment over the phone. They can't take the payment without that information.
Can the original creditor agree to recall the account from collections who is reporting it once it is paid in full in effect having it removed from the credit report?
Negative entries will remain on a credit report until the required time period of seven years has elapsed. Neither the original creditor nor a collector can have the entry removed, but it can be noted as "paid as agreed", "paid in full" "satisfied" and so forth.
What if primary account holder dies and there is a cosigner?
The co-signer will be required to pay off the debt. That's what they agreed to when they co-signed so that the primary could get the account.
If you co-sign with someone who defaults on the note is there any way to get it removed from the co-signers credit?
Do what you agreed to do. Pay the lender.
How do you impeach vice president of India?
He can be removed by a resolution of the Rajya Sabha passed by an absolute majority and agreed to by the Lok Sabha.
