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A little advice on how to proceed


kakorot63
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Hi, I am new to this website and forum. The information is very helpful, pentifiul and some times overwhelming as well as a little confusing at times.

But, anyway here is the situation.

I have a couple items(charge off) on my CR that based on my calculations are scheduled to be dropped from my CR in a few months. More like later in the year.

But I would like to see if there is a way I can facilate the issue, in other words is there a way I can get the items to be dropped sooner than later.

I know if I waited this long what is a few more months, but I am trying to qualify for a mortgage by this summer and it would be beneficial to my credit score to have these items removed sooner than later.

I settled on one item and the other one is still in collections. Again if I had known about this site earlier I would done things differently, but that's life and you move on.

Any and all advice would be greately appreciated

Thanks.

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Welcome...

You're kinda stuck between a rock and a hard place here, I think. Six+ year old negatives on your reports won't hurt too much in getting a mortgage, but, you're loan officer may insist they're paid off before closing. So, you probably want to pay these people...and, negotiate a "pay for delete" (PFD) so that the items are removed from your reports.

Depending on whether the OC still owns the debt, you might want to be a little hard-nosed about what you agree to...for examply, if its a junk debt buyer (JDB) that's trying to collect, there's almost no reason to pay them unless they do delete. Paying the JDB wont make the OC's CO look any better and won't help your scores.

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See if you can arrange a workout plan with the creditors. If the creditor accepts a workout plan, after three payments they can return the account to an open good-standing account (Re-age). Only creditors can do this, not collectors.

This could help a ton in a mortgage since it would return bad tradelines to good active status.

Just DON'T disclose your plans for a mortgage or the creditors will be less likely to be flexible on the repayment terms. (why should they give you a break so you can spend the money elsewhere?)

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You can try to negotiate but not worth it just wait to later in the year when all the charge-offs drop off!!!!!!!! Makes no since to beg for deletion when they are this old. I know mortgage officers are going to be a nuisance and insist that they are paid which is absurd like I said just wait a few months it is not 2 years down the line!!!!!!!!!!!!

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