Hello everyone, I just stumbled across this site a couple days ago. Wish I would have a couple years ago at this point though. So here is the situation if you don't mind a bit of text...
A few years ago I came across a tough patch in my life(lost jobs, perfect storm of of bills and lack of income followed). I had no choice at the time I thought but to end up defaulting on some credit cards that I had.
Since then I have slowly and painfully crawled my way back(almost). I was able to secure somewhat stable employment and slowly but surely pay of all the past due debts. Actually on my final $1500.00 of my last bill at the moment! I never thought I would see the end in sight!
Here is the problem, when I was able to finally start working with the credit card companies, collection agencies and in one case a law firm, to come to payment or settlement agreements it never occured to me to ask about how they would report this on their end. I have recently pulled my credit report from and see all the damage that period of my life caused.
So after all that backstory, here is the question, is it even possible to get some of these listings deleted or if not that the status/comments updated to a more favorable status on these settled accounts? I have in some case a report listed from the original company then also from the collection agency that was hired. So in those cases I have two negative reports listed for one account.
I could understand how the companies would not care now that they have their money, but the though of these being on my report for another 5 years at this point really brings me down. I worked very hard and did everything I could do to fix my mistakes of the past only to find out that this will still hang over me for long after I have paid my debts.
Thanks for reading through this and any advice or guidence people with similar situations can give. It feels good to tell others of my situation even if on a forum. This is something I have kept entirely to myself since I lost my job and it feels good to get it out there.
Thanks again!
I have the same problem, it did me no good to pay off four that were in the negative, they are still there but show paid.
They will fall off in the normal time frame, I think it is 7 years.
I feel your pain, try to do the right thing and still suffer. I think there should be a middle of the road column where these fall off sooner.
This really is a sad story and a lot of us have been there. This is one of the reason I say the cedit reporting is not fair and the length of time they effect your report should be dropped down to something like two years. I believe when the put this system inplace they must have thought everyone whom defaulted on their debt did it intentionally. We all know that is not the truth. Some get there just as you have and then have to wait seven years for a second chance. insane.
Be glad you actually got them resoved and now can not be sued. You could try and contact them asking for a delete but I am afraid you probaly will not get it. After they get their money they no longer need anything from you so they feel they are wasting their time.
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I know where ya'll are 'coming from' with that one. We ALL have had rough times and we ALL have tried to take responsibilty for our financial situations. I just wish OTHER people would see that more often..ya know?
If someone goes through their entire life with out hitting a rough spot then they really do not learn the value of life and money. This is my personal opinion. My hubby and I hit the worst spot of our lives due to an auto accident and economy combined. I can personally tell you how eye opening an experience like that is. You really can take a look at your past spending and what you see can be amazing. A lot of our oney was not well spent. Dinners out a couple times a week was one thing we cut out and it saved a bunch. With us both working it was a lot easier to eat or order out. We have since gotten somewhat straightened around but limit the eating out to one a pay day..which is once every two weeks.
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You could look at that another way, as well. I've known several people who HAVE been thorugh rough times. Behind in payments, evicted from more than one place,etc. However....they STILL haven't learned they need to take responsibility about money. They gt their checks, by what they want and THEN they 'pay their bills' (lack of a better word). If their bills aren't paid, if a utility gets shut off, it's "someone else's fault." How do you learn having an attitude like that!? You don't.
It is hard for people to take personal responsibilty sometimes, usually it is easier to blame someone else then to bite the bullet and move on.
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Then if they DON'T "move on", they learn absolutely nothing about thier 'mistakes'. How to solve them in the future, etc. It's really sad to see. I see this with some of my 'Clients'. They have NO idea how to handle their bank accounts..always bouncing checks or screaming at a clerk when they check is 'denied.' They are almost 'lost' when it comes to dealing with situations, themselves.
OK, I have done this, have hope!!
I had to remove some paid collections from my Credit reports. At first I kicked myself for not getting a pay for delete but remember once you resolve and settle they can't sue you. Judgments stay on your report much longer than 7yrs.
So, because they have your money, they won't work as hard to keep this stuff on your report. Do regular disputes and then send 623 investigation requests to the tradeline furnishers. Then complain to the bank regulators. I used this technique to fix my credit report a couple years after a paid everything off.
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