We have seen credit scores rise over 125 points 12 months after 4 out of 5 debts were settled, how could settling debts be a bad thing for your credit rating if you have debt problems?

When executed correctly it wipes out the debt service ratio. It's only when people do it incorrectly that it can have a negative effect on your credit rating.

I know it's been awhile on this matter. I just wanted to let you know I did get to the bottom of this account. Someone in the family used my husbands SSI # and got a phone. The bill was up to $2,400.00 and I finally got them to settle to $950.00 in 2 payments.
My question is does settlement still hurt credit ratings?
I really like this site it has helped me get through some ruff spots on questions I have

Thank You all So Much

Well, there's always my old standby... call and ask to speak to a supervisor or manager. Tell them that you need this fixed and if they cannot fix it for you, you will do the following:

a) go down to the nearest/busiest outlet and demand to have it fixed. You will do it in person, and you will be doing it very loudly in front of all their potential customers.

b) dispute the item with the credit bureau

c) inform the supervisor you are speaking to that if making a scene in front of their customers is not effective, you will then be contacting the local media troubleshooter, who will, you are sure, be happy to, very publicly, help you resolve this issue in front of every potential consumer, country wide, who watches the news.

d) inform the supervisor that you will then be filing a suit for damages due to the defamation this false entry is causing on your credit file.

e) follow through.

Yes same thing happened to us rogers had a debt on there didn't even belong to us we didn't have rogers at the time they said we did. We had to call the collections number and they confirmed it wasn't ours then we did called the credit bureaus the removed it after jumping through so many hoops and made us fax something to their office. We finallly did get it off and at least had one person who knew what they were doing after a few attempts that is.

Thank you for the reply , but I have tryed contacting them and get pushed from 1 person to another. I went through 12 people in 1 hour.
No one will help me. I am in the process of sending them a reg. letter to see if that helps.

Angella,

I like the way you explain yourself to other members and the knowledge you bring to this forum.

Cheers

a) Contact the credit bureaus and dispute the charge

b) Send Rogers a registered letter stating that debt appears in your credit bureau and that you do not recognize it as being yours. Advise them that they need to either send you documentation of this debt or they need to remove it from your bureau.

Has anyone having the same problem? I just received my credit report and I have Rogers Wireless on there and didn't use Rogers. I have tryed calling and emailing to get no where.
I am at a cross roads do not know what to do!