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Reaging Sample Letter


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I.m currently deal with Reaging some past due accounts. However, Im finding that alot of the Collection agents dont understand Reaging. Thus, I know i should get everthing in writing before sending a dime. Are their any reaging sample contracts on this site. Also how can we can convince the CRA to accept the contracts when Reaging is kind of illegal?

Thanks

Playmaker

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Well Im using the good side of Reaging http://www.bankrate.com/brm/news/cc/20030331a1.asp

I had a problem so I fell behind 4 months with Chase and Bank of America. There is some confusion by collection reps some say it removes the late payment others say it just brings it current. The best thing is to have in writting a promise to remove the deliquency. Ill keep everyone updated on the resolution.

Peace

Playmaker

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Ok, THAT kind of re-aging is NOT illegal. Creditors do it to bring an account to 'current' status and wipe out the lates, but that doesn't wipe out lates on your credit report. I've had a couple of creditors re-age in this way when I was falling behind and they put me on a hardship program. In that context, it is beneficial to the consumer to help you get caught up and back on track.

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Well Ive heard it can wipe out the lates on credit report!!! Even in the articles it suggest that it can wipe out the lates. They also never gave notfication that they were reporting me late so ill try to challenge along those lines too. When I send a conformation letter regarding Reaging it will defintely include wiping out late history. I will post letter and inform everyone of results.

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