[kiesha8185]

Hi Everyone!

So I went ahead and ordered my CRs from all three CRA and Transunion is the first one I got back. Please bear with me...I'm new at this...my score is not that good

Adverse Accounts
I have six adverse accounts

The first two are Capital One and Citibank. They both went to collections. I paid off Capital One a couple months ago and it's showing up on my CR as "PAYMENT AFTER CHARGE-OFF/COLLECTION" It also says "SETTLED LESS THAN FULL BALANCE". I just finished paying off Citibank this week . It says "CHARGED OFF AS BAD DEBT". However, neither of them have payment histories on them on my CR. Is this reason enough to have it removed off my CR? Especially since they're paid off?

Adverse Accounts 3-6: Macys, JC Penny, The Limited, Victoria Secret

The last four adverse accounts on my CR have only one late payment back in December 2006 (I closed them all, the creditor did not). Two of the four have payment histories and two them don't. They are all paid off. Within the last week, I have re-opened all of them and intend on increasing the credit limit and utilizing about 30% of the limit to build back up my credit.

Satisfactory Accounts
I have four satisfactory accounts.

Three of the four remaining accounts are all paid off in full. I need to re-apply to get them re-opened so I think I'm gonna just work on the ones I have now to improve my credit score before I try to open it. The fourth is a school loan, and that payment has been deferred until December.

My question is, since they are all paid off with only one bad payment, should I send a letter requesting that it be removed? Do you all have any sample letters that I can use?

As far as old addresses go, what would I say to them to remove them? The current address they have for me is correct.

Thanks for any advice!

[Enigma]

Paid Charge Off's may remain on your CR for seven years from the date of first delinquency.

If you paid Cap One in full, then dispute the notation.

[bobdole369]

The first two are Capital One and Citibank.

I paid off Capital One a couple months ago and it's showing up on my CR as "PAYMENT AFTER CHARGE-OFF/COLLECTION" It also says "SETTLED LESS THAN FULL BALANCE".

I just finished paying off Citibank this week . It says "CHARGED OFF AS BAD DEBT".

I don't know your credit history but based on some of the further stuff in your message, I'm willing to bet that these two are from about 2-4 years ago.

What you had was a chargeoff on both accounts, several years old. Its negative impact was slight, but still negative. Negative items tend to have less of an impact on your credit score as time goes by.

Now what you've done by paying the debt is reset the account so that the date of last activity is current. So now you have a brand new paid collection.

I don't know how the scoring model works intimately and the numbers are probably way off, but lets say for the sake of argument that a 3 year old $1000 chargeoff has a -10 on your FICO score, while a brand new one has a -25.

A brand new paid chargeoff might have a -20 on your score. Now a 3 year old one might have a -5.

It's entirely possible that by paying the debt you've hurt your credit score.

In addition you've also guaranteed that the bad item will stay on your credit report likely another 7 years from the date of last activity, which is now today.

Your chances of removing a paid chargeoff are nil. The account is current, by paying you have essentially agreed that the account exists and is correct.

You will have a very very hard time removing these two items, they won't just fall right off now.

Aren't you glad you paid them?

My question is, since they are all paid off with only one bad payment, should I send a letter requesting that it be removed? Do you all have any sample letters that I can use?

How old is the one bad payment? Single lates often have no negative effect on the score, especially if over a couple years.

[jlynn]

Actually, with the creditors listed you might have some good luck with goodwill letters (as they are called).

Write them a letter basically telling them how much you enjoy their stores, you apologize for that one late in Dec 06, it was due to <insert sob story> and you would appreciate any consideration they would give you.

Never hurts to ask, but as Bob was saying, they really aren't hurting your score much.