No, if the last payment date is not adjusted, imo, you are better off not to as it will stay longer on your bureau.

Keep the proof only for future lenders and, as I said, send in a consumer statement indicating that all debts have been paid in full and you are willing to provide receipts upon request.

You won't get the instant approvals, likely, but a bank or lender on a second look, may ask for the evidence and approve you.

thanks again for your advice angela.

I was offered a reduction or "settelment", I chose to disregard this and pay in full. I was under the impression that by paying in full it would look better on my report, (specifically to future lenders) is this correct?

So I should keep release letters only for future lenders? Not send to equifax? Both agents that I talked to told me the opposite - not that i believed a single word that they said!!!!!

Oh.. the ratings... try to get them to report them as R1... pays account as agreed. You can reason that they are paid in full as agreed and that the missed payments do not have to be removed from your bureau... just the current rating changed to reflect the fact that they ARE paid as agreed.

When you do this, it will have to be a supervisory person you speak to as the rank and file front lines will not likely have the authority to do anything for you (although it doesn't hurt to ask). Be polite to everyone you speak to along the way. You are asking a favour of them, not the other way around. Explain that you are trying to clean up the credit and that, while you are not asking them to remove records of the missed payments, you would really appreciate it if they could upgrade your status to "paid as agreed" since, in the end, even though circumstances forced you to default, you did come through and pay the full amount outstanding.

keep them. This will prevent other collection agencies from coming back at you for them. It will also provide proof that you have paid them should a bank require them.

I would NOT send them to the bureau. The damage is there and done. You can send in a "consumer statement" stating that the collections are paid in full and you are willing to provide receipts as required, but I would not ask for them to be updated on the bureau. They will fall off faster if they are not.

Thank you Angella & Ranzzzz,

To confirm yes, I did owe both debts.

- they both offered settelments but I assumed that it would look better on my report if they were paid in full instead of setteled.

Now my course of action (if I read both of your responses correctly is to)

- Contact equifax, have old enquirys & duplicates removed
- credit card (secured or non) and pay in full every month
- car payment ongoing, but I like the idea of another installment payment that I could have at an I1 status
- contact creditors for R9's and asked that the rating be changed? What should it me changed to?

Last question, now that I have paid the two debts what happens? Apparantly I am released letters that read "paid in full" from the companies. What do I do with these?

You may have if you don't know what the collections are for. If you do, it's fine that you paid them. At this point, what you want to do is hope that they don't report the paid in full, but keep the receipts to prove to the banks that you have paid them in full. That way they will not be re-aged, but you can prove to the banks that these will never come back to haunt you.

My advice to you now is to apply for a credit card with capital one... even if it is secured, to start getting more current good credit on your account. When you get the card, never charge more than 20% of the total balance and pay it in full every month... or if you do charge more pay it off 5 days before the billing date. Your credit score is based on the types of credit you use (installment like the car loan and revolving like a credit card or department store card), how much of your available credit you use (ie how much of your available balance on your cards you use), whether you pay your bills on time, the length of time since your last default, and how much credit you are applying for. The amount of your available credit used that is reported will be the amount you are billed even if you pay it off in full every month, so don't get high bills.

If your car payments are done, try talking to your bank about a small (1 or 2k) secured RRSP or GIC loan for a couple of years to get an installment loan on your bureau. If you are still paying on your car loan, don't bother.

You can have the inquiries over three years removed.

If the R-9's were paid in full, contact the creditors and have them change the ratings if they will, although the 0 balance owing may be the best they will do. The good news is that these are old enough that they don't count as much against you as they could.

Now the only thing that will help is time and regular payment of your debts.

Ok I guess we need a little more details before answering your question. Do you owe those debts? Have you ever been behind in your bill payments and they got sent to collection agencies?

yes any inquiries more than 3 years old should be out of the report.

You sound like once you see the amount owed you jumped in and paid them right away. That's a big no no...especially if you do not seem to recognize any of them, let alone you can negoiate for lower amounts (provided that you DO owe the debts)

Hi, This is my first ever post online, so here it goes!

My bank manager advised me to request and review my credit report, i did so (knowing that I made some mistakes in the past) and here is a summary....

Credit Inquiries:
Total of 24 -

8 more than 3 years old - can these be removed?
There are a few duplicats, same day, or days apart - can these be reduced to single inquiry?

Credit History -
I1 - car payment

R9 - Future shop - last reported 08/05, last transaction 02/04. Balance $0

R9 - Cibc Card - last reported 06/04, last transaction 02/04, Balance $0

--- Both of the R9's are "bad debt,collection account, or unable to locate" they both were both paid in full to creditors.

Is there anything I can do to get these R9's off my report?

Public Records-

Financial Debt Recovery - Collection reported in 02/05 - $1628.00 - Balance Outstanding - $2807.

iQor, Inc formerly CBCL - Canadian Bonded Credit Limited - Now Iqor Collection Agency - Collection reported in 01/06 - $979.00 - Balance Outstanding - $1025.00

I was freaked out when I read this, and got on the phone to both of the above companies, and paid them the full ammount. Was this the best thing to do, after reading on this site I think I may have "re-aged" my account's....

I just need some advice on what to do, I was a kid when i screwed up and just want to get this fixed.

Please help, any advice would be great.