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Bo's credit help question blog keyword
Negotiate first.
Negotiate with creditors to
remove delete bad credit. Call and write a letter for collections,
charge offs, late payments, medical, utilities and bad credit
Sometimes it's possible to have
past or recent bad credit removed from my totally free credit report
by negotiating with "original creditors" and validating
all duplicate collections.
Validated debts must be paid fast. Call first and verify
by mail before making payment.
Always ask for credit help on any settlements.
I keep copies and names and dates of all contacts.
Ask for marked paid in full with no new date of last activity date.
If I cannot find a creditor, I
dispute
the account as not mine to find information.
I "Bo Majors" had a charge off for 345
dollars in 1990 with BO Oil credit card. In 1992 I called them and told
them I needed good credit and that I would pay the 345.00 and add and extra
300.00 down payment to start new good credit.
They agreed.
I charged gas and paid extra each month for 12 months.
I called and asked them BP Oil to remove anything older than 24
months which was a charge off, 5, 30 days late, 2, 60 days late and 1, 90
days late and they did.
My I checked my credit report and everything with BP Oil now said
400.00+ high credit limit with 0.00 dollars owed and a perfect "no
lates" payment record.
My score jumped huge in less than 13 months.
The best fix bad credit
move I ever made. Negotiate and pay.
I "Bo Majors"
also had a bad credit collection from getting stitches at the local
medical clinic. The medical clinic sold my bad debt to a collection
agency within 120 days. After about 1 years I called the collection
agency and asked if I paid the bill off in full would they remove the bad
credit from my report. They said only the medical clinic could authorize
that. I called the clinic and got an ok for the collection agency to take
the debt off if I would pay the debt in full with fees right now to the
clinic. I called the collection agency who called the clinic and we had a
deal. I paid in full and the collection agency removed the bad credit. My
score jumped right then.
Read this entire article on what a charge off is and
how to negotiate.
When I check my credit report and
find an account reported as a charge off then, a creditor has had to zero
my balance on their books. My account is no longer considered an asset on
the creditors books. Creditor charge off's usually happens after six months of no
payment on the bad account.
Having accounts listed as a charge off does not mean
I don't have to pay. Charge offs damage or hurt my credit
score. Creditors sometimes assign
collection agencies
to collect past due balances, so I don't look at a charge off as a debt
I don't have to pay.
I get in contact the original creditors rather than the collection agencies if possible.
I try to negotiate a payment plan with the creditor but
I make sure I can and will pay. Defaulting on any agreement will only
put more bad credit on my credit report.
Sometimes I can get creditors to remove
charge offs' from my
totally free credit report
and replace
them with "paid as agreed" and
on time" by offering to make a monthly payment plan.
All creditors want their money back and sometimes agree to remove bad credit
in exchange for regular payments. Not
all creditors will be willing. I always try to negotiate before making any payments and get
any agreement in writing prior to making my first payment. I use
agreements to dispute bad credit.
If I can't get a creditor to remove a charge off and report
the bad credit as paid as agreed, then I try for account closed, paid, or settled.
I can also try to get creditors to drop interest if I make immediate
payment in full. Once I make any
payment no matter how small I will lose my bargaining position.
Charge off's are
company accounting issues and a black and white business step to take. Creditors do not deliberately
try to slur my credit record so I never don't take it personally.
I use a business attitude when dealing with creditors and I never try to use moral high ground as a case.
I negotiate with
creditors, keep records and copies of the mail I send and receive and I
use a business language.
When I contact an original creditor or collection agency in an attempt to bargain
for credit repair and make payments to delete, update or remove bad
credit I am saying "Here I am, I have money and I will pay you?
I always remember creditors can still sue
me in court for the owed balance and I will be liable for costs on top.
I am cautious to not push my luck too far while negotiating payment and
repair.
I continually use pre-emptive credit negotiation if and
when I have problems or issues arise concerning late payments on any of
my reported loans or credit cards.
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Hire a Lawyer to do all the
work
Knee
deep in debt solutions
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