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Credit Report

Date: Wed, 06/08/2005 - 06:50

Submitted by anonymous
on Wed, 06/08/2005 - 06:50

Posts: 202330 Credits: [Donate]

Total Replies: 1

Credit Report


If I send my creditors a letter asking to close the account and waive the interest fees, and the creditor does accept, how will it read on my credit report? Will it be a negative ? Thank you.


Hi Samantha

Welcome to the forums. If the creditors accept your deal, closed accounts should NOT BE LISTED AS OPEN in your credit report. The accounts that are closed by you should appear as "CLOSED BY CONSUMER" on your credit report. Otherwise it can be assumed that it is closed by the creditor which will not have a good impact on you.

In cases if there is any error in the credit report, please dispute it with the bureaus and get it removed. Please wait for another 30 to 60 days and order for another credit report. You are most likely to see a higher score. This reportable information will stay on your report for 7 years.

Please let us know if there is any further query that needs to be answered.

Regards
Roxette


lrhall41

Submitted by roxette on Wed, 06/08/2005 - 09:54

( Posts: 4009 | Credits: )