What Marks Should I Accept on My File from a Creditor?

If the creditor will not delete an account from your report completely, the next best thing would be to have the negative remark changed to a positive remark. For example:

“Paid Satisfactory/Paid as Agreed” “Current Account/No Late Payments” “Credit Line Closed/Consumer’s Request”

The lowest rating you will accept in your negotiation should be “non-rated account.” For example:

“Paid” “Settled as a Non-rated Account”

Under no circumstances should you accept a negative rating, such as:

“Paid Collection” “Paid Charge-Off” “Paid, Was 30 (or 60, 90, 120) Days Late”

If the creditor will not delete the account or change the rating to a positive remark, then you should turn to other methods of credit restoration for that specific account.

Successful negotiation takes patience and persistence. Do not show the creditor that you are too anxious to settle. After you have made your offer, wait for the creditor to accept it or make a counter-offer. Always make it clear when you begin negotiating that your only incentive to settle is to restore your credit rating. Therefore, a positive correction or deletion of the account is essential to any agreement. If a creditor is interested in settling, it knows that you will settle only if a better credit rating is part of the deal.