Hi Michael, how much time do these banks allow you to pay off a settlement, CO and FT (as we spoke about) ? What if someone doesn’t have the money for a 40% settlement
Prior to the charge off, many credit card banks typically allow about 90 days to pay a settlement. After charge off we have a lot of success getting certain settlement spread out over a few years. This is far more situational, and depends on the collectors, and your accounts. More on charge off here: consumerrecoverynetwork.com/charge-off-and-credit-card-debt-what-it-means-to-you/
Hey Michael how are you doing today and I was wondering if you could help me try to get my credit reestablished since I have been a victim of Identity Theft and can't get a Credit Card!
@@MichaelBovee No cause I'm trying to get that taken care of right now and yes there are unpaid collections on there but not sure how to go about getting it cleaned up?
Here are some good resources for dealing with ID theft: files.consumerfinance.gov/f/documents/cfpb_your-money-your-goals_how_to_handle_identity_theft_handout.pdf and: www.bankrate.com/finance/credit/steps-for-victims-of-identity-fraud.aspx
So, you can't make an agreement, in writing, that upon their receipt of your payment in full, that they notify the credit bureaus within a specific amount of time, e.g, 7 business days? Can't be worked out?
There may be instances of something like that working, but generally speaking, I do not see that happening much. If you are in a time crunch to get your credit to reflect a settlement, such as getting a home loan, talk to your loan officer or mortgage broker about what they need from you to do a rapid rescore.
Hey michael, I settled an account with chase back in February at 40% of what I owe. I want to dispute the marks on my credit history and get them taken off, do you know how I can do this?
You can dispute something on your credit if you believe it is not accurate. You would need to raise a concern like that in your dispute. Banks are not known for not responding to those, so I am not optimistic about the deletion. You can accomplish most any major financing goal with paid collections.
