Pay for a Delete: Good Idea?

Written By Aaron Sarentino
Mar 8, 2018


Thinking about paying for a credit report delete? What in life is really essential to our survival? It’s a pretty short list, headlined by food, shelter and clothing, but many people nowadays would also include a mobile phone among their list of indispensable “must-have” items. But did you know that a mobile phone payment could also affect someone’s credit scores? Currently, the account can only have a negative impact if you default on your payment, a sign that you might be falling behind on your regular financial responsibilities.

For most of your other payments, including a car loan, a mortgage or credit cards, you are rewarded for paying your bills on time and penalized when you miss or are late on a payment. A mobile phone, however, affects your credit scores only if you default on your payments and it is charged off or sent to collections. One key thing to know about charged off debt, however: if your debt is charged off, you’re still obligated to pay it.

Your Account Balance Changed

Many credit scoring models include consideration of your payment history and your credit utilization ratio (your outstanding balance as it relates to your total amount of credit available). The length of credit history, your credit mix, and your amount of new credit are also factors that can be considered, but may not have as much weight as the others.

Because your payment history is a major part of many scoring calculations, it is important that you avoid defaulting on any payments whatsoever . While paying your mobile phone bill on time doesn’t affect your credit scores positively, defaulting on the account is a serious negative that could have a potentially severe effect on your credit scores.

Is it already too late for you? If you currently have a defaulted mobile phone payment on your credit report, don’t be disheartened. Defaulted debt that’s either charged off or sent to collections will stay on your credit report for seven years. However, if you pay it off and recommit to using good credit behaviors like paying your bills on time each month, it will begin to recede into the past before you know it.

Making good credit a part of your everyday life is something you can always reaffirm your commitment to; good behaviors beget good scores, so know that your efforts to improve your habits won’t be in vain.

MORE ARTICLES

See how Americor can help

Check Your Options

About Americor

Americor provides debt solutions to thousands individuals and families all over the country. We’re a next-generation debt relief company with a proprietary platform designed to help clients get out of debt quickly. Together we’ll develop a strategy for you to enjoy a debt free lifestyle. Learn more about how Americor can help relieve the burdens of debt today.

more
Address:
18200 Von Karman Ave, 6th Floor Irvine, CA 92612
New Clients:
[email protected]
Existing clients:
[email protected]
Phone:
866-333-8686

We provide debt resolution services. Our clients who make all monthly program payments save approximately 40 – 50% of their enrolled debt (average of 43%) upon successful program completion, before program fees. Fees are based on a percentage of your enrolled debt at the time of starting the program and range from 15%-25% of your enrolled debt. Programs range from 20-48 months. Clients must save at least 25% of each debt due to an enrolled creditor before a bona fide settlement offer will be made. On average, clients receive their first settlement within 4-7 months of enrollment and approximately every 3-6 months thereafter from when the prior debt was settled. Not all Clients complete the program. Estimates are based on prior results and may not match your results. We cannot guarantee that your debts will be resolved for a specific amount or percentage or within a specific timeframe. We do not assume your debts, make monthly payments to creditors or provide tax, bankruptcy, accounting, legal advice or credit repair services. Our program is not available in all states; fees may vary by state. Some programs may be offered through The Law Firm of Higbee & Associates d/b/a Advantage Law. The use of debt resolution services will likely adversely affect your credit. You may be subject to collections or lawsuits by creditors or collectors. Your outstanding debt may increase from the accrual of fees and interest. Any amount of debt forgiven by your creditors may be subject to income tax. Clients may withdraw from the program at any time without penalty and receive all funds from their dedicated account, other than funds earned by the company or fees paid to third-party service providers, as may be applicable. Read and understand all program materials prior to enrolling. Certain types of debts are not eligible for enrollment. Some creditors are not eligible for enrollment because they do not negotiate with debt relief companies. To determine the offers you may be eligible for, Americor conducts a “soft credit pull.” This credit pull does not impact your credit score, creditworthiness, or ability to obtain credit from other sources. The soft pull is not a tradeline entry, it does not report against your score and will only take a few minutes.

Americor Funding, LLC (18200 Von Karman Ave, 6th Floor Irvine, CA 92612) is fully accredited by the Better Business Bureau (BBB), the American Fair Credit Council (AFCC), and the International Association of Professional Debt Arbitrators (IAPDA). CA Department of Financial Protection and Innovation (DFPI) License # 603K913.

Copyright © 2022 Americor Funding, LLC dba Americor Financial. All rights reserved