You could send them a pay for delete letter asking them to remove the negative item from your report after it is paid. This is usually done before paying off the debt. But it's still worth a try. It's no guarantee that they will remove it either way. But I would still send the letter. Good Luck
At this point you have already paid the taxes on the debt through the 1099c form and have been released from the debt. The debt is most likely going to stay on your credit report for the next seven years. Just because you pay the taxes on the debt does not mean it will be pulled from your report. Even debts that have been settled will still show as paid;settled for less. Which is almost as bad as not being paid.
Hi Kim,
You could send them a pay for delete letter asking them to remove the negative item from your report after it is paid. This is usually done before paying off the debt. But it's still worth a try. It's no guarantee that they will remove it either way. But I would still send the letter. Good Luck
At this point you have already paid the taxes on the debt through the 1099c form and have been released from the debt. The debt is most likely going to stay on your credit report for the next seven years. Just because you pay the taxes on the debt does not mean it will be pulled from your report. Even debts that have been settled will still show as paid;settled for less. Which is almost as bad as not being paid.
Hi kim,
You should have sent a pay for delete letter before settling the debt amount. But now that you have already settled the debt, I don't think there is much you can do now. You can send a goodwill letter to them requesting them to remove the negative item. However, it depends on the creditor whether or not they accept your offer.
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