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Too late?

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victoriatheriot

Joined: 01 Apr 2009
victoriatheriot's page
Posts: 1

24 Magic Points

Subject: Too late?

Wed Apr 01, 2009 11:11 pm

I paid off American General Finance and Capital One, but didn't know I had the right to ask them to repair the entries on my credit. Is it too late?

carol

Joined: 27 Jun 2006
carol's page
Posts: 1307
Location: Los Angeles, California

29555 Magic Points

Thu Apr 02, 2009 1:58 am

Hi Victoria
If the creditors have already reported the item as delinquent in your credit report, then the negative item would have been removed from your report only if you made the creditor agree to pay for deletion agreement before you had paid off the debt. However, if you have already made the payment to the creditors then I don't think that it is possible to remove it now.
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Carol

Mary

Joined: 06 Jul 2006
Mary's page
Posts: 686

17396 Magic Points

Thu Apr 02, 2009 2:05 am

I agree with you Carol. If the debt is paid off to the creditor, the creditor will not have no incentive to remove the item from your credit report because they have already received the payment. So the pay for deletion agreement should always be made with the creditor in writing before you pay off the debt. You can request the creditor to remove it from your report, but I don't think that they will do so.
Asking for pay for deletion is not a right. It is just a request which you can make to the creditor and it upto the creditor whether he will agree to PFD or not.
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RodneyT

Joined: 03 Apr 2009
RodneyT's page
Posts: 4
Location: East Meadow, NY

145 Magic Points

Fri Apr 03, 2009 4:26 am

If all else fails, try disputing the entry with the credit bureaus. Maybe it will come off, maybe it won't.
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Rodney

Justin

Justin

Joined: 17 Jul 2006
Justin's page
Posts: 1240

28942 Magic Points

Fri Apr 03, 2009 6:59 am

Yes, you may try to dispute the item with the credit bureaus as Rodney said. If your luck favors, you can get it deleted from your credit report, else it will stay there for seven years and six months from the date of your delinquency. As far as I know, the creditor will not remove the item from your report because you have already paid off the debt in full.
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Justin

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