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Should you delete the account or have it corrected?




Do you have accounts that you're not too certain about? Should you remove it or should you have it corrected?


Is there a formula for figuring this out? It isn't that complicated!
Let's say that you have the following accounts:

Open accounts:
  • NFCU - account still in use; late payments reporting in comments and status
  • Capital One - account still in use; late payments reporting in comments and status


Closed accounts:
  • Chase Card - collection
  • Comenity Bank - charge-off
  • Bank of America - $0 balance; late payments for 3 months


Bottom line:
We can remove the negative account whether it is open or closed. If you are still using the account and would like to keep it, we would not delete it. On your next payment, the account would report again. If you do not wish to continue using it, we are able to remove it completely. We can update the negative comments to reflect positively, meaning that the negatives (more than likely late payments) are removed. 

If the account is closed and negative, we would just delete it. If there is a $0 balance, updating the comments may be the smartest option, as it would be useful in calculating your score and illustrating your account history. If a balance is due, the account should be removed unless you are willing to pay the balance and then have us update the comments. 

As for the accounts listed above, this is what I would recommend:

Open accounts:
NFCU - account still in use; late payments reporting in comments and status
Update account comments
Capital One - account still in use; late payments reporting in comments and status                               Update account comments
Closed accounts:Chase Card - collection 
Remove account
Comenity Bank - charge-off
Remove account
Bank of America - $0 balance; late payments for 3 months
Update comments


I do hope that this was explicated to one's satisfaction. If there are any questions, please do not hesitate to contact me for more information. 




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