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Help Getting CO accounts reported as current while paying off full balance

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Any help / recommendation with this issue is greatly appreciated!

Due to a job-related requirement that does not let me avoid paying old CC debt based on SOL (nor permits me to negotiate settlement for less than 100% of unpaid balances), I need to get all unpaid amounts paid up as quickly as I can. Since the amount is more than I can afford to pay very quickly and would likely need a year or so to pay it all off, I am looking to find a way to start making installment payments but want the OC to report the accounts as CURRENT. How can I get them to do this? Until these are reported as current, I can't get a clearance needed for my job so it's urgent that I find a way to address this ASAP.

 

TIA for any help.

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A "Current" monthly payment rating only pertains to accounts that haven't been previously placed into default and closed.  It definitely doesn't apply to a collection tradeline.

 

Short of removal of the account from your report by the creditor (or by a successful dispute as inaccurate, obsolete, or not yours), the best reporting outcome would be a "Paid" notation when the debt was fully satisfied.  Presumably, such a "Paid" remark would also satisfy your employer.

 

The best means by which to address this matter would be to obtain a consolidation loan to pay these debts in full, and then keep current on the loan payments.  If your past history precludes obtaining such a loan, you might see if someone with a good credit history will be willing to cosign such a loan (or, perhaps, loan you the funds themselves).

 

Apologies if this doesn't present a feasible solution for your situation ...

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As noted, once charged off, they won't be able to reflect the status as current.  Had it only been up to 150 days and NOT charged off, you could have negotiated a Rule 5000 adjustment, but that ship has sailed. 

 

As this is a clearance-related matter, hdporter gives the best answer with respect to getting some manner of loan.  Your small local bank with whom you SHOULD be doing business and is most apt to use discretion with a wobbler would be a good place to start.

 

In the interim, please indicate the age of these matters and what communications you have had with the lenders about resolving the matter(s). 

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21 hours ago, hdporter said:

The best means by which to address this matter would be to obtain a consolidation loan to pay these debts in full, and then keep current on the loan payments.  If your past history precludes obtaining such a loan, you might see if someone with a good credit history will be willing to cosign such a loan (or, perhaps, loan you the funds themselves).

 

8 hours ago, centex said:

As this is a clearance-related matter, hdporter gives the best answer with respect to getting some manner of loan.  Your small local bank with whom you SHOULD be doing business and is most apt to use discretion with a wobbler would be a good place to start.

 

In the interim, please indicate the age of these matters and what communications you have had with the lenders about resolving the matter(s). 

 

Thanks for these responses. I will try to find a community bank to work with but am concerned that they won't lend in the amount I need (roughly $40k). Are there any recommendations in the NYC area?

 

All of these TLs are between 5-6 years old and the only comms I've had with the lenders are their standard balance-due letters to me, and a couple of offers to settle for 20-40% of the total (though as I mentioned, unfortunately I can't accept any of the offers without jeopardizing the job requirement). One of the creditors, which holds two of the accounts, has never contacted me at all and I do still have one open account with them.

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