How can I have derogatory creditor reports rmoved off my credit report?

Deal Score0

I have been so worried I have a few collection agencies that have reported in which has rapidly dropped my scores. Ive heard about asking the collector to verify the rite to collect but besides paying what else can I do what do these companies do that specialize in that???

4 Comments
  1. Reply
    Kerry
    December 8, 2012 at 3:24 pm

    really not much there…if the bills are valid and the money is owed…its going to be

    reported that way. shame its gotten to this point, but…………

    they have no real reason to pull back the info from your history there…and they will

    adjsut it when the past dues are paid on out…..it is a consequence of not paying as agreed…

  2. Reply
    bdancer222
    December 8, 2012 at 4:04 pm

    Derogatory items age off your credit report 7-1/2 years from the date of first deficiency (default). This is per the FCRA an nothing restarts that clock. Paying off the debt will not remove it or help you score. The damage is done and will remain for the balance of the 7 year reporting period whether paid, settled, or unpaid.

    Credit repair companies can’t do anything to remove legitimate negatives. Asking for validation or verification will not get the item removed either. It’s your history. You get to live with it.

  3. Reply
    Keren
    December 8, 2012 at 4:45 pm

    Any credit repair companies are scams.
    Remember that !
    Only you can fix your credit. And that is done by contacting them and negotiating settlements. You have to have cash on hand to do this.
    You could try to settle for 1/2 of what you owe.
    Do this before they sue you.
    They can garnish your wages and tap into your assets.
    Debt does not simply just go away.
    And disputing items brings absolutely, positively no benefit.

  4. Reply
    StephenWeinstein
    December 8, 2012 at 5:23 pm

    There are companies that specialize in charging you money to remove stuff. They don’t actually get anything removed. They just charge you the money and then move on to the next potential customer.

    Paying will not get it removed. Once something goes to a collection agency, it stays on your credit report for seven to 7 1/2 years, even if you pay it sooner.

    It will be removed automatically after 7 to 7 1/2 years, even if you do nothing.

    You get it removed by waiting 7 to 7 1/2 years. That is the only way. You cannot get it removed by doing something. You can only get it removed by waiting for it to happen automatically.

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