Can You Remove a legitimate unpaid Debt From your Credit Report – Collections

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Can You Remove Unpaid Collections From Credit Report | Debt Removal

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In today’s video we are going to talk about whether it is possible to remove a legitimate debt from a credit report without paying off the debt.
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The reason I am covering this subject is because each time I recommend credit repair to a friend, they always say they don’t have the income to pay off the debt on their report… Oh well you can actually remove a debt from your report without having to pay that back. Here is how you do it.
Dispute the inaccuracies on your reports
First you need to look for inaccuracies on your credit report. For example if you have a wrong addresses ,Balance, Account number, Date of opening the account, Payment and account status, credit limit, phone number or any other inaccuracy associated with you debt you can challenge the collection to remove the debt from your reports. Dispute the inaccuracies first with the credit bureau reporting the collections account and then after they remove the inaccuracies, discuss the debt.
Even if the debt belongs to you, and there is no inaccuracy on your reports, that doesn’t mean the collector is legally able to collect from you. If the debt collector first contacted you within the past 30 days, you can request debt validation. This process requires the collector to provide proof that you owe the debt. If the collector can’t validate the debt or doesn’t respond to your request, the debt has to be removed from your credit report.

Dispute after Seven Years
According to the Fair Credit Reporting Act (FCRA), past due accounts can only remain on your credit report for seven years from the first date of delinquency. Sneaky collectors often try to re-age a debt, making it look like the account became delinquent later than it actually did. This keeps the debt on your credit report longer.
If the seven-year reporting period is up (starting from when you first went delinquent with the original debt), dispute the debt from your credit report. Any proof you have regarding the first date of delinquency will strengthen your dispute.
Dispute When Collectors Sell
Collection accounts often change hands. Debts are assigned and sold to other collectors, so there’s a strong possibility the collection agency listed on your credit report isn’t the agency that’s currently collecting on the debt. When this happens, you can have the older collection removed by disputing it with the credit bureaus. If the debt collector fails to respond to the dispute, the credit bureau should remove the account since it has not been verified.
Ask for a Goodwill Deletion
It may be a long shot, especially with collection agencies, but a goodwill deletion request is another option for having debt collections removed from your credit report. A goodwill letter works with accounts that you’ve already paid. In the letter, you essentially ask the collector to show some mercy, perhaps because you fell on hard times after a major life change, and remove the collection from your credit report.
When All Else Fails
If you’re not able to get the collection account removed from your credit report, just negotiate with them for a smaller amount. Most of them would accept a smaller amount. Just make sure you have the agreement in writing. So that they can remove the item from your reports after you make the payment.

So guys, now you know that it is possible to remove unpaid debt from your credit report. you can either do that on your own or you can use a third party such as the Get funded Program. I placed the link in the description below.

Are Credit Cards Considered Revolving Debt, Can You Remove a legitimate unpaid Debt From your Credit Report – Collections.

You Can Get Debt Help And Relief From Worry

In reality, the average American household now has around $10,000 or more of unsecured Revolving Debt that they owe.
Your debt is constantly directly connected to your credit rating.

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4 Easy Guidelines For Eliminating Credit Card Debt

This might equate a great deal of cash out of your pocket. Prior to you protect your loan, make certain to do the research on your debt consolidation business. You should pay a minimum of the minimum payment on each financial obligation.

Debt consolidation includes the procedure of combining lots of debts into one with just one month-to-month payment. Benefits include a lower month-to-month payment, lower rates of interest and charges and the cancelling of previous charges or fees for missed out on or late payments. How debt combination impacts someone’s credit is really complex and everything depends on the technique that is picked for financial obligation combination. If financial obligation combination is not done properly; it can sometimes do more harm to your credit.

You will be making just one payment each month when you consolidate your debt into one secured loan. This payment is normally one that likewise comes with a lower rates of interest and lower payments. If credit is a significant issue for you, then acquiring a Secured Debt debt consolidation loan will be a really sensible choice. You will protect your loan at a lower rate of interest with some kind of collateral. When they either have a big amount of debt or a poor credit score, most individuals try this option.

The first thing to do is make a list of all your regular monthly earnings. You need to consist of everything so you have a sincere idea of what you need to work with.

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Make your Revolving Debt payments ahead of schedule. Do not wait until the due date if you bring balances on a line of credit or credit card. Make your payments a week or more ahead of time so that you are way ahead of the video game. This will not just remove the potential for late payments and the repercussions thereof, but it will offer you fantastic peace of mind knowing that your financial obligations are paid ahead of time.

You have to comprehend that there are specific credentials that you need to abide by when looking for a debt relief option. All of them are efficient however you require to receive it financially to be able to take full advantage of the benefits of each.

When you are debt totally free, envision what you will have. When you are not paying all that financial obligation, how much extra money will you have. Visualize the better life you stop losing huge quantities of money on interest payments.

The payment plan should help you to pay off the top priority loans quickly. Management, relief and combination all offer some kind of solution to your credit issues. Make your Revolving Debt payments ahead of schedule.

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