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Delron
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Subject: Removing account from credit report
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Tue Aug 31, 2010 5:10 am
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Hi,
My current credit score is 710 and I'm in the process of paying off my $42,000 credit card debt. I know this will help, but I have a "Settled—less than full balance", on a credit card which I no longer have.
This account is 5 years old. So how long will this account stay on my credit report and when will this statement come off my report? Is there anyway to get it off sooner? Any help would be greatly appreciated. |
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Aaron
Joined: 08 Feb 2010
Aaron's page
Posts: 2675
48566 Magic Points
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Subject: removing account from credit report
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Tue Aug 31, 2010 8:02 am
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Hi Delron,
The account information will be removed after 2 more years as this has already been listed for 5 years. All items can be reported for 7 years at the most, after which it is supposed to fall off. If it does not, you will have to dispute the item with the credit bureaus.
To get it off sooner you can send a Goodwill letter to the creditor or collection agency (whoever you have paid). The Goodwill Letter is the request to remove the negative or a particular item based on your goodwill. However, not all creditors and colelction agencies agree to this. If the creditor or collection agency do not agree to remove it, you need not worry much as the negative impact lowers with time and it's already been 5 years now.
Thanks,
Aaron
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Lev
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Subject: credit report
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Tue Aug 31, 2010 12:05 pm
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Delron, you have quite a good credit score. You need not worry much about this account as it's been 5 years. The negative impact of an item on your credit report is lowered with passage of time.
Thanks |
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