Can Creditor remove derogatory information from credit report if you make a deal with them to pay the balance?

I have an old balance not payed on an acount listed on my credit report. I'm willing to pay it only if the creditor will totally remove the derogatory information from my report. Is this even possible to do? What are other options?

Can Creditor remove derogatory information from credit report if you make a deal with them to pay the balance?
OC1999 is correct.
Reply:I think they will show it as settled but they not remove it,I think
Reply:they can do anything they want





be good and do good
Reply:It's paid not payed.





Likely, the history would not be removed, in fact, it may be noted as an account that "settled".





Just take care of business and disregard how it's going to affect your "credit score". If you owe it, pay it. Be done with it. Make it go away. Move on.
Reply:It is possible if they agree to do it, which a few might in order to get paid. You have to get it in writing before you pay the agreed upon amount, that they will vacate/remove the derogatory information from all three of the credit providers forever. Once you get the letter pay them, being sure to keep good records, and if they haven't removed it within thirty days, you send the letter to the credit bureaus along with the canceled check, then they will verify. I have seen it done and I have seen it undone at a later date, so don't ever lose your paper work.
Reply:hopefully!! i have the same problem
Reply:It depends on who the creditor is. If the creditor is the original creditor, that is the one you had the actual account with. The chances of them removing the negative information is almost 0. If for example you were late and past due, that is valid so they are not going to change that information. They have to report accurate information. So once paid they will list it as paid/previously past due with a 0 balance.





Now, if it is a collection agency they will often remove THEIR listing if you pay it in full. But they have no control over what the original creditor does.





However, before you send any money to any company be sure to have what they agreed to in writing. Don't take what they tell you over the phone as fact. They will often promise you things on the phone but don't follow through. If you have it in writting you at least have proof.
Reply:They can but they don't have to. If they make a deal with you to do this make sure you get it in writing as they could forget and leave it on your report. Good luck.
Reply:yes you can but MAKE SURE YOU GET IT IN WRITING FIRST.





otherwise no deal
Reply:Yes they can but are they willing to is the? They can delete or add information. If they agree to it get it in writing but at the same time you will have to send them in writing that you will pay off the debt in exchange for them cleaning up your credit. My company has erased it but by doing so it will neither help your credit or affect it meaning it will appear as you never had the loan. My company has also just updated the account to paid in full which helps your credit but it is still negatively affecting you because you were delinquent. When the company decides to adjust your credit or not they are going to look at many factors. Did you attempt to pay the debt or did you just say forget it. The better your pay history was with them before you went delinquent the better. They will also take your attitude into consideration. If you come off as a jerk they aren't going to want to help you. But if you are nice about it then you are more likely to get what you want. Good luck but keep in mind that you shuold have been in contact with them sooner...