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Andrew
Joined: 15 Jun 2009
Andrew's page
Posts: 6
246 Magic Points
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Subject: Charge off on Experian Report
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Fri Jun 19, 2009 4:52 am
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This is how my Experian report looks like.
ACCOUNT NAME- XXXX
Balance: $4054
Past Due: $1652
Pay Status: Charged off as bad debt
Account Type: Revolving Account
Responsibility: Individual Account
Date Opened: 12/1999
Date Closed: 02/2007
Loan Type: Revolving Account - Charge Account
Remark: Acct closed by credit grantor
Estimated date that this item will be removed: 01/2014
I confused because I am paying for this account so the status should be paid as agreed. And also I have a credit card account which went over the limit because of late fees (there was a problem in the mail). I know an over the limit does not look good on the report. Can I ask the credit card company to change my credit limit? |
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rachael
Joined: 11 May 2009
rachael's page
Posts: 234
6581 Magic Points
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Fri Jun 19, 2009 6:34 am
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Hi Andrew,
Did you come to a pay for deletion agreement with the collection agency? Generally a charge-off remains on the report for 7 years, from the date you became delinquent. But it is possible to negotiate with the CA to report the charged-off account as "Paid as Agreed", once you repay the debts. A pay for deletion agreement is made by sending a "Pay for Deletion Letter".
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| Can I ask the credit card company to change my credit limit? |
I don't think increasing your credit limit will help to remove the "over the limit" charges. Because if you increase your credit limit, it will be reported in the next billing cycle. Instead you should contact the manager of the credit card company, and request him to waive the late fees. You can also follow up by sending a "Goodwill Letter". You can use the same format, but in place of the creditor's name, you will have to write the name of the manager of your credit card company. If you have been a good customer and used your credit accounts responsibly, the CC company may agree to waive the late fees (out of courtesy). To avoid late fines due to delay in the mail, you can make online payments for your credit cards.
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Looking forward to a debt-free life. |
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ronald talbot
Guest
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Subject: bancruptcy
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Wed Jul 21, 2010 11:53 am
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| i was made bancrupt back in 2002,can you let me know when will this be cleared so i can get back to a currant acount as this is realy causing me problems |
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Aaron
Joined: 08 Feb 2010
Aaron's page
Posts: 2675
48566 Magic Points
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Subject: bankruptcy
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Thu Jul 29, 2010 10:30 am
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Hi Ronald,
Under which chapter did you file the bankruptcy? If it was filed under chapter 13 then it is going to stay on your report for 7 years, and if it was filed under chapter 7, it is going to st ya there on your credit report for 10 years.
Thanks,
Aaron
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