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How to remove/correct fifth third credit from report


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Hey guys,

I had this posted in another topic but looking at it now this might be the place to put it. Sorry for the double post. That and apparently I fail at being able to post topics sometimes so it may show up more than once >_<

So I pulled my credit reports and saw a few things I need to handle. Overall, I have a few CAs for some little amounts that I'm just going to try and handle with a full deletion from the report by paying them off. No big deal there, I have about 1.5 years to try and handle all this so I can try and get gradplus loans for professional school ^_^.

However, I do have one sore thumb sticking out at me that doesn't look good. This is a credit card from fifth third that was closed. As some back story, I paid the full 750 balance off in full before going to school. However it looks like some interest amounts hit right after I paid them so *this fee* and *that interest* and *blah blah fee* hit for not paying the card off because I thought it was all taken care of.

Because of this, I have on the report a 30-60-90-120-120-close on the report. There is a zero balance but on some of the reports it has the notes "closed with 107 balance" and they all say "closed by creditor" which I know is dinging me. This happened at the end of last year in 2009 now that I look at the report. There is no CA for the fees on my report.

So what is my best method of action here? Do I call 5/3 to attempt to settle with a paid-as-agreed and remove the late payments in exchange for the full amount owed? If they have already sold it to a CA do I even bother trying to pay it since it's not hit my credit after a year? If I work with the CA can they make the OC change the report to paid-as-agreed and take off the late payments?

Is there another option I'm not looking at that would help me here? A stipulation for the gradplus loans is that they don't care how bad the credit score is from debt-to-wealth or anything. They just can't have any collections or things that were 90+ days late in payments. The 5/3 is both of those things and is probably the biggest player I need to deal with.

Sorry for the long post but that's my story and I'm sticking to it 8-)

Thanks for the help, I really appreciate any feedback you can give me ^_^


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