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July 11, 2005

Bad credit repair hint - changing defaulted account status

A common bad credit repair question - how can I make sure that a lender or collection agency will change the status of a delinquent account to "Pay as Agreed" or even remove it after I send the payment.

You can't. Even if you get the letter of agreement from supervisor or a manager, nothing can guarantee that he or she honors that later. Good chances are it will be honored, but don't be surprised if it won't be. You may have to follow up with more letters and faxes.

Credit repair is so tedious often because you pissed people off.

One suggestion is while negotiating, stipulate that you pay 70% of the agreed amount, then bank or debt collection agency changes status to your liking and then you send the remaining 30%.

You can find plenty of useful hints and ideas on our Credit Repair website.

Posted in Credit Repair at July 11, 2005 11:46 PM

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