delete Credit Report issues
@johnscoolplace (389)
United States
January 24, 2011 3:27pm CST
I have a chance to buy a home but currently my credit report will not allow me to do it I make about 2,300$ per month so I have plenty to pay on a small home looking at 600 per month payment includes electricity, and everything else. The problem I have is about 10,000$ in chargeoffs on my credit. If I call the creditors how likely would they be to delete this off my credit reports for payment in full and could I resonably be looking at buying a house in 6 months?
1 response
@FrugalMommy (1438)
• United States
24 Jan 11
I think it all depends on the collection agency the account(s) are with. It might be worthwhile to give them a call and see if they will remove the record from your credit reports. If they agree to do it, make sure you get it from them in writing before you make a payment to them. I believe that chargeoffs are reported for seven years from the date of the last activity on the account, so if you make a payment today the record would fall off of your report in seven years unless the creditor has it removed.
