Big-HE Posted February 28, 2003 Report Share Posted February 28, 2003 Hello! I racked up all my negative credit in my younger days and have been feeling the effects ever since. I just recently made attempts to contact the credit agencies to find out exactly what was on my credit report. I never bothered before I just knew my credit was bad (things like phone bills, ect.) Now I know that I need to pay my debts, but I'm wondering what happens after that. Will my credit still be classified as bad? Will my score improve? I hear that some creditors and CAs will change their reported status once paid. Is that true? I just want to make good!!! Link to comment Share on other sites More sharing options...
Anonymous Posted March 2, 2003 Report Share Posted March 2, 2003 Welcome to the board....First off you do not want to pay any CA's unless you negotiate in writing that they delete the account with the Credit Bureaus. Once you pay them- they could care less about you or your credit score. I would read the debt validation link -which is directly above and send them a debt validation letter-certified mail, Seven to 10 days later dispute the CA accounts with the CB's as not yours. Try to catch them in a violation to get some leverage.Some OC will change how they report on an account and some will not. If you need more help- you can list what is on your report- leaving out personal info and account numbers and members can help you further. Your score will improve as you get as many deletions as possible-and of course pay your bills on time. Just paying a CA-they will list it as paid and it will still hurt your credit. [Edit by Candy on Saturday, March 1, 2003 @ 09:37 PM] Link to comment Share on other sites More sharing options...
IronMan Posted March 2, 2003 Report Share Posted March 2, 2003 Welcome to the after-effects club.Yeah, don't just pay them or take their word that they'll update. Ensure that you get deletion (in writing) and that the subject account and debt will be fully satisfied and will not be resold or reassigned nor allow it to be reported in any manner in the future.Everything you were told about or felt was right in clearing up your past debt is just myth and financial legend. The truth IS out there, and you found it right here at CreditInfoCenter.com.Cheers! Link to comment Share on other sites More sharing options...
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