{ 6 comments… read them below or add one }

mommaof2inutah January 10, 2011 at 1:15 am

if your record really was delinquent before you paid it you will have to wait a couple of years to get it completely off. there’s nothing you can do

emilydianemiller January 10, 2011 at 1:45 am

Generally all items remain on credit reports for 7 years from the last posted date. Don’t confuse the last reported date with the date an item was opened. If you open an account in 2001, but don’t pay it off until 2005, expect that it may remain until 2012. It’s either Experian or Equifax, but one of the two always lists to “will remain until” date on every line item of the credit report.

A couple of avenues you can try:

1. Dispute the item through all three credit agencies, even if it’s valid. Companies have 30 days to respond and if they don’t the item is deleted. This works for short term, but if the company wants to report it at a later date, they have the right to do so.

2. Call the company and ask them as a good faith effort to change the status from derogatory to paid as agreed and wipe out all late payments. Some companies are nice enough to do this, some just don’t care.

Chubbymom January 10, 2011 at 2:44 am

As a financial consultant, I can advice you to write a detail letter to all three credit bureaus and let them know what is going on. You need to pay nothing to them as you have already paid your company who you where already selinquent too. Sit back and relax, your problem can be solved. If you need more information you can contacting me by email.

mother of 2 January 10, 2011 at 3:11 am

I agree with chubbymom. Good sound advice.

Tony BolognaPhD January 10, 2011 at 3:38 am

I think it cost about $150 but a loan broker can do it, if you have proof.

pooh January 10, 2011 at 4:18 am

You need to get in contact with a person at the agency and explain that the delinquent account has been paid in full and you want the credit report to reflect that. You also need to contact the credit agency that you paid the delinquent account to and have them send you something on company letterhead stating the account has been paid and full. Keep a copy for yourself and send Transunion a copy also make sure the other two agencies have fixed this on there copies of your reports also. It’s very likely all three have the account deliquent. It costs nothing to have this problem fixed. Let the agencies know that you want the late payment removed and it to state paid as agreed upon. It usually takes 7 years for delinquent account to be removed from your credit reports and the 7 years starts from the day you paid off the account. Hope this helps. JUst remember to keep trying don’t settle for the computer-generated letters. You have to stay with it. I’ve had this problem and my account was not even delinquent it takes some time this is not something that will happen over night.