Monthly Archive:: February 2009

Does a Collection Agency Have to Erase a Paid Account From Your Credit?

Have you recently paid off a collection, either partially or in full, and want to know if the entry will be removed from your credit? Unfortunately, just because you pay off a collection doesn’t mean it’s automatically removed from your credit report. Rather, I

Paying to Remove Collections on Credit Report

Question I have 7 collection accounts on my credit report, and I am willing to pay them off. But I really want them removed. what is the first step in doing this? Response You’re in a good position if you’re willing to pay them

Writing a Bankruptcy Explanation Letter

Reader’s Question I am trying to pre-qualify for a home mortgage loan. I filed a chapter 7 bankruptcy back in 2001. The underwriter wants a letter to explain the bankruptcy, what is the best way to write it? Some say to write hardship due

Removing An Account After A Divorce and Signed Divorce Decree

Question What is the best letter I can send to the credit card company to request my name to be removed from an account to where I am the Main cardholder, but due to an divorce and the agreement signed and documented in the

Cleaning Up Credit After Identity Stolen By Parent

Reader’s Question Hello, My mother used my name without my permission when i turned age 18. I found out about it when i turned 20. By then i owed about 12,000.00 dollars on 8 credit cards. I was able to remove 7 of them

Removing Duplicates From Credit Report

Reader’s Question Hello, I have been trying to find out if I can remove one of two duplicate accounts on my credit report. Specifically, I have one negative entry from the original creditor who transferred the account to another agency. Then there is another

Signed Up For A Credit Card To Get A Free Sandwich

Question Hi. So my situation is I’ve just checked my credit report for the first time about a few months ago and I have two credit cards open under my name, LUCKILY with zero balances which was open two years ago. But the thing

When Does The 7 Year Removal Countdown Start On Negative Entries?

Reader’s Question Hello, I have some negative items that will soon be at their seven year limit and will (hopefully) be removed from my credit report. Can you tell me which credit agency informs you of an estimated date when an item will be