If I pay my creditors that is on my report will they remove it or mark it paid and how does this help my credi

Question

If I pay my creditors that is on my report will they remove it or mark it paid and how does this help my credi

Answer 1

If you pay what you owe the debt will be paid and your creditors will report it as such, however, if you are late making the payments that will also get reported and it won't go away.  Late payments have a negative impact on your credit rating.

Answer 2

Hi there. it matters how much you actually pay the collection agency and how it is negotiated. There is a number of different ways to do this. Be sure to make them validate the debt. You may not technically owe them any money at all if they cannot prove you owe it to them.

i own my own credit/debt consultation company and often settle debts for 40 percent of what the client owes and have it deleted from the credit report regularly.

feel free to email me at [e-mail].

I am always available to answers questions

Answer 3

If you don't get a written agreement first, they'll mark it as paid/settled...which is still a big negative.

The best option is to mail them Pay for Delete offers, where they agree in writing to remove the items from your credit report after they get your payment. It is very important to get these terms in writing prior to paying. Never accept verbal promises from debt collectors....if you do, they’ll just deny that any agreement was ever made once they get your money.

Answer 4

You will need to specifically ask them to, then check on it in a couple of months to be sure they do.  If you ask them repeatedly and they still don't, write a letter to the credit bureau, telling them that the report is inaccurate.  Disputed charges are removed from your report until they have time to investigate them.  It does help your credit score.

Answer 5

You will have to send them a delete for pay letter, asking them to delete the negative entry for paying the settlement, or they could mark it paid as agreed.  This will help your credit, because, it will either show the account as a positive now, or it will not show the account at all.