Paying Off Debt
I am planning to pay off a very large cc debt (First USA-now Bank1One). My credit report shows 1 late pay of 30 days and 1 late pay of 60 days. It also shows the account was closed by the credit grantor. I called customer service and asked if those could be removed...the lady said she was showing no late payments and that I should write requesting the removal. My question is: how important is it to get 1)the lates removed? and 2) should I try to get the status changed from closed by grantor to simply closed? I am planning to fax a letter today. Is this worth it? I am planning to do the same with several other cc's I have if it will make a difference. My credit is score is lousy and I am really working on improving it so anything that will help it I'm willing to do. Thanks in advance for any help and suggestions.
I would dispute it on all three of your credit reports from the credit reporting agency.
Read this first
http://www.thecreativeinvestor.com/Article1.html
Yes it is worth getting late pays off!
make a dispute against any late info. I did even against stuff I did pay late and most of them they removed. They only have 30 days to prove that it was late and its easier to just remove it then going through old records if they even have them.
As Wealth Coach (debt advisor), I am a Mortgage and Real Estate Broker. I wil give you advise I feel is beneficial just based on the information you have shared.
It is always beneficial to clear up as much debt as you can.
The first thing I suggest is you clean up all debts and have them report that you closed the account.
The second thing is to get all agreements in writing from the creditor before making any commitments on your part.
The third thing is not to close a lot of accounts at once, that will hurt your score. If you have accounts with a long history of 24 months or more and they are in fairly good shape, do not close those accounts, just bring the balance to "o".
If you need consultation on credit repair, eliminating debt and building wealth. Then I would love to assist you. As a person who is "debt-free", I pride myself in helping others.
Tish Henderson
Wealth Coach, Sr. Consultant
404-547-9500
1-888-414-9184
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