Negotiating With A Creditor For Deletion of Negative Items

One of the steps to take to cure a negative credit score is to negotiate with a creditor to get deragatory items removed from your credit. There is a right way and a wrong way to do this.

Many people from time to time find themselves with items on their credit that have been charged-off. A charge-off is a delinquent debt that the creditor has written off as a loss and has no hope of recovering the same from you. These are normally sent to an outside collection agency which in turn attempts to collect the debt from you (knowing they will keep 100% of the amount)

Paying off a charge off to a creditor will only affect your credit score possitively if the amount is eventually deleted from your credit. Before you pay off a charge-off, never admit that the debt belongs to you and then negotiate for a Letter of Deletion to be sent or faxed to you. This is a written guarantee that the item will finally be deleted from your credit upon satisfactory payment of the debt. Learn how to repair your own credit here.