I have a charge-off with a local Bank in Missouri. The Date of first delinquency is June, 05 and was charged off as a profit and loss debt in 2005 itself, and a judgment was rendered in the early half of 2006. Now, it has recently got updated to my TU credit report in April 2010. The reason for the non payment is that we are still in dispute over the amt owed.
The charge off was for 1023 and the judgment was for 1255. I discovered that the interest rate had been updated. My score dropped from 712 to a 635. I am just ready to get this settle but the right way. I want the entire tradeline deleted as well as any information pertaining to the account including the judgment once it is paid.
I am not sure what you can do about the discrepancy regarding the amount. However, you can try settling the judgment amount.
I want the entire tradeline deleted as well as any information pertaining to the account including the judgment once it is paid.
The entire tradeline deleted? But if you delete the whole item, this can hurt your credit. The judgment too cannot be removed. It will stay there on your credit report for 7 years (or may be more depending on the state laws on judgment). The account status can only get updated to "Satisfied judgment".
Your personal details (name, email address and phone number) will be delivered to the company advertised on the Creditmagic after ve agreed to go for the counseling session by filling out the no-obligation form. However, it is your discretion to accept or reject their services.
Not all the creditors/debt collectors agree to trim down the outstanding balances, interests, and fees payable by the consumer.
Consumers working with the debt relief companies can still be sued by the creditors/collection agencies.
Debt relief services may have a diminishing effect on the creditworthiness of the consumer. The total outstanding balance may increase as the additional fees get accrued.
The overall amount saved by the consumer through the debt relief services is considered as taxable income by the IRS.