How do I clean up my credit if it WAS my fault

[hawkster]

I've read all the artiles as to how one would go about removing something on your credit report that you might want to dispute. That said, how do I go about removing a negative from my credit report for something like late payment or missed payments, etc.

Basically I am not deneying it was in fact my fault but how do I make ammends with the creditor and have it removed???

[momof1in150]

You can write a Good Will letter asking them to remove it but most likely they won't. You already admitted that they are legit entries so you will have to wait the 7 years for them to be removed.

[responduser]

I don't think that it can be removed so easily!

[mom2manyboyz]

You just have to work with the creditor to get it resolved (paid up as quickly as possible). Then you just request that they notify the credit reporting agencies that the debt has been settled. That is the best you can do. They must notify the agencies and the agencies must update your report to show the debt is paid, but any true entries about late payments, etc. are just there until they expire from your report.

I've read all the artiles as to how one would go about removing something on your credit report that you might want to dispute. That said, how do I go about removing a negative from my credit report for something like late payment or missed payments, etc.

Basically I am not deneying it was in fact my fault but how do I make ammends with the creditor and have it removed???

[maat55]

You should let time and good money management fix your score. A good budget and financial plan will serve you well. Set limits for yourself on how you use credit.

Only use CC's when you can PIF.( Start small with only for gas)
Never buy a car on more than a three year note. Cash is best.
Have an EF of 3 to 6 months expenses.
Invest at least 10% of your gross.

Make a good plan and stick to it. Overcome instant gratification and you will have peace with your finances.

[Beccagold]

I agree with what the others have said. If its accurate you will need to wait for it to expire. That being said, the most recent 24 months impact you the most. Make sure you continue to pay all bills on time and do not open any more credit.

[minnie1928]

I've written goodwill letters for my mom in the past and they have worked. That being said, it was probably 2-3 years ago before the current credit mess and they may not be so lenient anymore.

[prosper]

I've read all the artiles as to how one would go about removing something on your credit report that you might want to dispute. That said, how do I go about removing a negative from my credit report for something like late payment or missed payments, etc.

Basically I am not deneying it was in fact my fault but how do I make ammends with the creditor and have it removed???

Pay off past debt
Pay bills on time
keep credit card balances low

[msnln]

As I understand, if the payment had been delinquent for some time, it is better off not to pay, or discuss with the creditor, as talking will reset the 7 year clock. If the payment had been delinquent more than year or two, I would just opt to wait out 7 years unless there is good chance record will be cleared up.

[prosper]

As I understand, if the payment had been delinquent for some time, it is better off not to pay, or discuss with the creditor, as talking will reset the 7 year clock. If the payment had been delinquent more than year or two, I would just opt to wait out 7 years unless there is good chance record will be cleared up.

In my case, the creditors never stop trying to get their money. They will reset the year clock by reporting it to the credit bureau or they will sell the loan to someone else who will continue to go after the owed money. It is easier to just pay it off if you want to straighten out your credit score.

[msnln]

Creditor or collection agency will try to collect but as long as you do not try to renegotiate the loan and refuse to talk to them, clock ticks from the day creditor reported negative item to the credit agency. If you offer reduced amount, or ask for better terms, the clock resets and even after the settlement, negative will stay in your report.

I have an excellent credit except for one dent, which is cell phone charge that was "written off" few years ago. Service provider had authorization to charge my credit card for all charges but when I cancelled service before the term, they charged my account but for some reason did not charge my card for the last payment. After few months, I got a call from collection notifying me of this and different agency would call every few months and I would just hang up on them.

According to my credit report, this chargeoff should come off in 2010, even though this charge gets bounced around various agencies. I consciously do this b/c if I pay, like I am supposed to, this thing will stay in my credit report until 2015. Though unethical, sometimes things swept under the rug need to stay there.

[prosper]

Creditor or collection agency will try to collect but as long as you do not try to renegotiate the loan and refuse to talk to them, clock ticks from the day creditor reported negative item to the credit agency. If you offer reduced amount, or ask for better terms, the clock resets and even after the settlement, negative will stay in your report.

I have an excellent credit except for one dent, which is cell phone charge that was "written off" few years ago. Service provider had authorization to charge my credit card for all charges but when I cancelled service before the term, they charged my account but for some reason did not charge my card for the last payment. After few months, I got a call from collection notifying me of this and different agency would call every few months and I would just hang up on them.

According to my credit report, this chargeoff should come off in 2010, even though this charge gets bounced around various agencies. I consciously do this b/c if I pay, like I am supposed to, this thing will stay in my credit report until 2015. Though unethical, sometimes things swept under the rug need to stay there.

If I am understanding correctly your credit card was not charged. Does this mean you still owe them money? Also, a firm will sell your account to another firm. The original seller writes it off but the buyer will continue to pursue any outstanding balances. At least this is what happen in my experience.

[msnln]

That is correct. I did not even know about the charges until the collection company started calling about it and I refused to talk to them. Then a few months later, another company called and so on. I guess about half a dozen companies called to collect. The original creditor had long ago written off the credit and have been sending solicitation mails trying to get me to sign up with them again. In any case, once your credit has been dinged, best thing is to wait out the term, if you can help it.