I Got A Settlement Removed From My Credit Report

It's all a lie! A bad debt or settlement doesn't have to stay on your credit for 7 years! The system is banking, literally, on your ignorance. I got a 2015 settlement removed from my credit in August 2020. Sure, it took almost 2 months but it happened. Back story: I didn't pay my phone bill for a couple of months and it got sent to collections. I agreed to do a settlement and paid about $1050 to close the account. Five years later, a new collections company reopened the account and started reporting it as late.

Tip: Make sure you're monitoring your credit score. Check at least once a month. Also, check the details of your report. That's how I knew something was up. My score had dropped and I was being contacted by this new company. Here's how I got this removed:
  • I called Telus to confirm that the account was closed. They said to call the original collections company.
  • I called the original company and requested a release letter stating that this account was paid and closed.
  • I called the new collections company and also requested a release letter.
  • I wrote down the names and numbers of everyone I spoke to, including dates.
  • I made sure to follow up when someone said something would be done by a certain date.
Tips: 
- If you know you've already paid something, DON'T PAY AGAIN. Make sure you keep receipts for everything.
- Get multiple opinions. Some people will make you do extra work for NO reason.
- Learn to use your credit card properly + pay your bills on time.

What I Learned:
- Pay As You Go options are great. I never have a phone bill. If I don't top up, I can't use my phone.
- Nothing is impossible when you're prepared. Keep receipts. Stay organized.
- If you can't pay for something, ask for help. Better than racking up a bill to over $1k.😖

Remember: It is easy to rely on others and assume things will get done just because they said so. It is YOUR responsibility to make sure your credit report reflects the truth. The sooner you get bad debts removed, the sooner you'll have peace of mind. You can have bad debt, work on paying it off and increase your credit at the same time. I did it! But the goal is to not have anything in collections.

All love, always, Shay.💛

Instagram: @financefortheculture

Email: financesfortheculture@gmail.com

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