Credit Repair - Taking Down an Agency Report
Having a credit agency remark on your credit report can destroy your good standing so to speak but there will be times when you will really have to deal with such issues.
This way you would be able to take immediate and proactive credit repair measures in order to minimize the damage.
This article will provide you with some ideas that you will be able to use in order to make such a thing happen.
Before we get on to the gist of the discussion though it would be wise to note that both the creditor and the collection agency have a contractual, NOT legal, obligation to report accurately, in fact they are NOT REQUIRED to report at all.
The main point here being that as long as you are able to take the right steps the damage can be very much prevented.
So, let's take a look at some of your possible solutions, shall we? • Pay AMEX directly: This window of opportunity is still available to you within the first 30 days upon receiving the first dunning letter.
In this first 30 days, you can make an arrangement with AMEX to pay them directly provided they take the account back from the collection agency.
This will result to the removal of the remark allowing you to maintain the integrity of your credit score.
• Verify: Another way would be to request the collection agency for proof that the debt is indeed yours and that they are duly authorized to collect.
Considering some of the shady tactics that collection agencies use, you will be well within your rights to ask for proof.
If for some reason they are not able to provide you with sufficient reason or proof that the debt owed is indeed yours, the remark will be removed.
• Negotiate with the agency itself: Remember the line which was capitalized above? This means that you can actually save up enough make an offer in exchange for the agency not having to place their report.
Again, the, agency is not legally bound or obligated to report anything at all so if you should be able to get on their good side the report may still be taken down.
There are plenty of other methods that you can use in order to make the report go away.
As long as you are able to take immediate action upon notification, the damage can be avoided.
This way you would be able to take immediate and proactive credit repair measures in order to minimize the damage.
This article will provide you with some ideas that you will be able to use in order to make such a thing happen.
Before we get on to the gist of the discussion though it would be wise to note that both the creditor and the collection agency have a contractual, NOT legal, obligation to report accurately, in fact they are NOT REQUIRED to report at all.
The main point here being that as long as you are able to take the right steps the damage can be very much prevented.
So, let's take a look at some of your possible solutions, shall we? • Pay AMEX directly: This window of opportunity is still available to you within the first 30 days upon receiving the first dunning letter.
In this first 30 days, you can make an arrangement with AMEX to pay them directly provided they take the account back from the collection agency.
This will result to the removal of the remark allowing you to maintain the integrity of your credit score.
• Verify: Another way would be to request the collection agency for proof that the debt is indeed yours and that they are duly authorized to collect.
Considering some of the shady tactics that collection agencies use, you will be well within your rights to ask for proof.
If for some reason they are not able to provide you with sufficient reason or proof that the debt owed is indeed yours, the remark will be removed.
• Negotiate with the agency itself: Remember the line which was capitalized above? This means that you can actually save up enough make an offer in exchange for the agency not having to place their report.
Again, the, agency is not legally bound or obligated to report anything at all so if you should be able to get on their good side the report may still be taken down.
There are plenty of other methods that you can use in order to make the report go away.
As long as you are able to take immediate action upon notification, the damage can be avoided.
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