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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.