Being late paying your bills is not unusual and happens to the best of us. If a situation arises where you suddenly cannot pay your bills – loss of a job or a medical emergency – it is important to understand just what will happen if you find yourself delinquent on a loan or other debt. The last stage of a delinquent debt is generally identified as a charge off and this item, when it is recorded in an individual’s credit report may very well be one of the most damaging items impacting … [Read more...]
Understanding Pay for Delete Letters
August 28, 2010 By Leave a Comment
Removing negative information from a credit report is the fastest method to increase an individual’s credit score. One of the procedures available for removing negative or derogatory records from a credit report is using what is referred to as a Pay for Delete Letter. The pay for delete letter name describes exactly what this document is. A pay for delete letter is sent to the creditor or collector agency asking that they remove the bad payment record from your credit report in return … [Read more...]