Common Questions
Can questionable, bad credit be deleted or corrected?
Can credit repair companies be trusted?
How much does bad credit cost?
Does paying off past-due accounts neutralize their negative status?
Can deleted items reappear on my credit report?
Are items such as bankruptcies and foreclosures impossible to remove or correct?
Should consumers try credit repair on their own?
Does bankruptcy wipe the slate clean for a second chance?
Do creditors bother to read the 100-word statement?
Can changing one's SSN or EIN tax number help credit matters?
Does enough good credit offset bad credit?
Does the CCCS help consumers restore credit?
Do negative items have to remain listed for 7 years?
What is the Fair Credit Reporting Act (FCRA)?
Can credit repair companies be trusted?
How much does bad credit cost?
Does paying off past-due accounts neutralize their negative status?
Can deleted items reappear on my credit report?
Are items such as bankruptcies and foreclosures impossible to remove or correct?
Should consumers try credit repair on their own?
Does bankruptcy wipe the slate clean for a second chance?
Do creditors bother to read the 100-word statement?
Can changing one's SSN or EIN tax number help credit matters?
Does enough good credit offset bad credit?
Does the CCCS help consumers restore credit?
Do negative items have to remain listed for 7 years?
What is the Fair Credit Reporting Act (FCRA)?
Does paying off past-due accounts neutralize their negative status?
No. Paid, but once-delinquent, debts still show up as severe negatives. It's important to note that credit reports don't just show your current credit situation, but they also show what your credit situation has been in the past. Therefore, past delinquency, collection activity or a charged off listing does a great deal of damage to the credit score even if it was paid off. This is one of the great ironies of the credit reporting system; paying your past-due debts does little to immediately increase your credit score and may actually make the score worse.
Be forewarned, unless your creditor stops reporting the account or marks it as "paid in full" in exchange for payment, settling a debt might actually lower your credit score.
This is not to suggest that you shouldn't pay your debts, but you should pro-actively work with your creditors to avoid a lower score by asking for this kind of help.
This is not to suggest that you shouldn't pay your debts, but you should pro-actively work with your creditors to avoid a lower score by asking for this kind of help.
i
*Important: While the testimonials and other information on this website may be exciting, Lexington Law promises only to perform the steps we've agreed to in each client's case and to charge each month only for steps already completed. As with any legal work, no outcome is promised. Your results will vary.
© 2010 Lexington Law®. All rights reserved. John C. Heath, Attorney at Law, PLLC, d/b/a Lexington Law. Lexington Law is a group of law firms that may also be referred to throughout this site as "Lexington," "Lexington Law Firm," "we," "us," or "our firm". The number of items removed represents the combined results of the group.
Terms of Use were last updated on . Privacy Policy was last updated on . Email Opt-out // 50.0.CRHVexCreditrepairPropu0