Three ways to clean up stains from your credit history - ForumDaily
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Three ways to clean up your credit history

Your credit history deteriorates as soon as you have the first debt on your obligation, and worsens after your debt is resold to a collection company. You can improve the situation somewhat by paying off your receivables, writes Nerdwallet.

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Accounts receivable usually affect the credit rating for 7 years from the date of delinquency. Due to a number of scams and system mix-ups, you may not be aware that you have a debt. Below is a list of several steps that will help prevent and remove existing stains on your credit history.

First of all, check your bills. Check your debt information in two places: your credit history and your own records. Check the account number and status of the debt (paid, withdrawn, closed), the date when the delay appeared.

1. If the debt in your credit history appeared by chance, then dispute

Old debt information may remain in your credit history. Note that debt information may remain on your record for 7 years, then the credit agency must remove it. Nevertheless, situations often arise when information about old debt is not deleted after this period and spoils the credit history.

If you think your credit history contains incorrect information, then collect evidence and file a complaint with the credit bureau. You should be answered within 30 days.

On the subject: Collectors in the USA can now constantly write and call debtors: what can be done about it

If you think that the collector has no reason to contact you with a request to pay off the debt, then contact the credit bureau and request information on the debt. Make sure the debt belongs to you. Consider that after the first circulation of the collector you have 30 days to challenge the debt.

2. If you have already paid the debt, ask for goodwill deletion

You can ask your creditor to remove the debt information - goodwill deletion.

Write to the creditor a letter explaining your circumstances, why you want the debt to be removed, for example, you are going to apply for a mortgage. There is no guarantee that your request will be accepted, but it definitely does not hurt. Information about regular debt repayment can help you with this.

Information about late payments will remain in your credit history, until the voluntary removal of the debt that you have repaid by the lender will have a positive effect on your credit history.

3. If you have not paid the debt, pay to remove the debt information

The lender may agree to remove the debt information in exchange for paying even part of the debt. The credit account will be deleted, but information on late payments will remain.

This option does not work as often as we would like, but if the lender agrees, then he receives payment of the debt, and you remove the stain from your credit history. Please note that you can agree with the lender to pay less than what you have to pay according to the information specified in your credit history.

If you manage to use the scenario described above, be sure to ask the lender in writing to confirm the agreement reached between you.

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