I don't know where to send it...?

Dec 22, 2011

I don't know where to send it...?
by: Debtcollectionanswers

Cristie:

I am not familiar with the term "Goodwill Letter," but I assume that you have paid all of the collection accounts and now you would like to send letters asking to have the negative information about those accounts removed from your credit history. I've got good news and bad news for you in that regard.

The bad news is that creditors and collection agencies are not obligated to do that and typically you try to get them to agree to remove the negative information they have reported before you pay the money you owe -- it's part of your negotiations with them. That does not mean however that you can't try to get the information removed at this point, but you are less apt to be successful than if you had tried sooner.

In terms of who to contact, if the debts you paid off had been turned over to a collection agency or the collection agency had purchased the debts, you should contact the agency. If the debts were still with your creditors, contact them. Note: If your creditors had reported negative information about any of your accounts before they turned the accounts over to collection agencies, the agencies cannot remove that information. Also, once a creditor has turned an account over to collections, it's usually very very difficult to get the creditor to agree to remove the negative information it reported.

Now for the good news. Negative account information can be reported for only 7 years and 6 months from the time you first became delinquent, so the collection accounts are not going to haunt you forever. Also, the longer the information is in your credit reports, the less important it is assuming you do a good job of managing your finances going forward.

I don't know where to send it...?

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I don't know where to send it...?