Reaging accounts: Sample letter for account reaging request             Click here to Print

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#Laura - Says,



Re: <Your>

Dear Sir/ Madam,

This is to inform you that I have been unable to make payments on time for the past [insert number of months] months due to [insert reason for late payments]. My earlier payments have always been on time. I have been successful in recovering from [insert reason for late payments] and am now capable of paying back the debt.

My account with you has been delinquent for the past [insert number of months] and I am more than willing to repay immediately. I will be paying for the next consecutive three months as proof of my ability to repay my obligation. This is an earnest request to you to consider re-aging my accounts if I fulfill all the eligibility criteria. I would be obliged if you consider my request.

Please get back to me for any further information that I might be able to furnish you with. Thank you for your cooperation.




#Laura - Says,

To get back in control of an account gone awry, you can try to re-age that account. Re-aging can be used to clean your credit history. For example if one of your accounts have been delinquent for few months and now you have the capability to pay back, you can negotiate to re-age that account so that the negative remark (delinquent/late payment) is deleted and is marked as "Current".

This is not an easy process and you have to meet a lot of criteria to be eligible to get your account re-aged.

    Criteria 1
You have to show your willingness and capability to pay back the obligation.

    Criteria 2
The account should be a minimum 9 months old.

    Criteria 3
You should be making payments for 3 consecutive months or paying a lump sum on the debt.

    Criteria 4
The loan should not have been re-aged in 12 months.

    Criteria 5
You should not apply for or open a new credit account until the balance goes below the pre-delinquency credit limit.

Once you fulfill these criteria, you might be eligible for a re-aging of the account. It is tough, but not impossible.

#SunDevilsFan - Says,

Not trying to throw a wrench in the spokes...

But, I have been with the impression that reaging is when a collection agency states a payment was made (falsey of course) to keep an account within the SOL... or current...

Or, are we talking about something completly different???

#Laura - Says,

Now Sun this is a completely different thing here. reaging accounts is to get out of a temporary condition of financial difficulties like loss of job, some crucial and genuine family problems may be a death, medical emergency etc. This is the re-aging of open ended accounts.

The one you are talking about is done by the collection agencies but the one we are discussing here is something that has to be initiated by the consumer and has Federal Laws and Regulations to accomplish it.

#erb1953 - Says,

Real good post here Laura, thank you for putting this letter together and posting it for all to use. great job
#Laura - Says,

Thanks ERB,

It feels good to know that it is of help to you all. Account reaging is quite confusing. Sun gave a completely different scenario whereas I have given something else. may someone can explain the difference here?

#fireyone - Says,

Re-aging done from a collection agencies is them doctoring your dat of last activity to put your debt back into SOL. It is always important to keep all documentation pertaining to debts for your own security...such as re aging accounts.
I think Laura did an awesome job in explaining account reaging.

#goodnatured - Says,

Me too, I think it is great to have examples like this readily available to people, it really helps a lot.
#fireyone - Says,

I can tell you most of what I have learned I learned here at the forum. Just by reading all the posts one can really benefit.
#goodnatured - Says,

You sure have come a long way, you are giving some great advice, besides isn't it nicer to come here and conversate rather than sitting around watching television, you can learn and earn!!!!!!!!!!! Very Happy Very Happy Very Happy
#fireyone - Says,

I hate TV. I would rather read any day than watch the tube. Now my hubby can watch a movie 800 times over. I like giving advise especially when it helps but I really like when they stop back and tell us they were successful. Granted everyone can't have a success story but maybe at least a much happier ending.
#scott - Says,

Learning being a part of life requires investment of time. If not shared then how does learning help? I am loving the spirit of the forum posters. Great going. However we can stick to reaging on this thread. How about making a thread for appreciating members LOL.
#goodnatured - Says,

You could start that thread scott, LOL, we do get off subject sometimes and need to be corraled back on course.
#fireyone - Says,

Sometimes I think ikts alright to get off track a the head a break.
#goodnatured - Says,

Just becareful not to linger to far, LOL
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