C. Deal With Creditors on Past Due Accounts (2)
If you have past due accounts, you may be able to take care of the debts and start repairing your credit. Here are two requests you can make to a creditor using Form F-6: Make Payment If Negative Information Removed or Account Re-aged in Appendix 3 or on the CD-ROM:
- Ask that an unpaid debt and negative informationin your credit file associated with thedebt be removed from your credit file in exchangefor full or partial payment. Somecreditors will agree to report your account as“nonevaluated” rather than as past due or formerlypast due.
- If the creditor puts you on a new schedule forrepaying the debt, ask the creditor to “re-age”your account, meaning it makes the currentmonth the first repayment month and showsno late payments. Sometimes, the creditorwon’t re-age the account until you make twoor three monthly payments first.
Not all creditors remove negative marks or reage accounts, but it never hurts to ask. Contact the creditor’s collections or customer service department and make an offer. Tell whomever you speak to that you cannot afford to pay more, but that you’d really like to pay a good portion of the bill. Explain your financial problems—be bleak, but never lie. Get the creditor’s agreement in writing (send your own confirming letter if need be) before sending any money.
Taken From : Credit Repair by Attorneys Robin Leonard and Deanne Loonin
