How can I hlep my parents clean up bad stuff on their credit

Submitted by qwallace1 on Tue, 07/13/2010 - 18:30
Forums
Credit repair

My parents have an issue where unfortunately a family member has done some damage to their credit report. They do not wish to press charges however are being pursued by collection agencies. Is there anything they can do to get this off of their credit report. The relative lives in texas and my parents have lived in Louisiana at the same address pretty much for the last 40+ and everything that they actually have to perfectly paid and good credit.

Barbara_Elena (not verified)

If the negative item that is reported is correct, it is going to stay there on your credit report for almost 7 long years. Can you tell me whether you had authorized your relative to use your credit card?

If you had authorized him, you have to pay the debt and you can ask for a pay for delete letter from your creditor. A pay for delete letter is an agreement with your original creditor or your collection agency, to remove the outstanding debt in question from your credit report. But make sure to ask for the pay for delete agreement, before you negotiate with your creditors.

Wed, 07/14/2010 - 05:45 Permalink
cinnamngrl

they need to file a police report to fix this. and your parents don't press charges the DA does. these things can be worked out if the relative pays the money back. the world will not end if this relative gets in trouble. If your parents have any assets like a house, they will be at risk

Wed, 07/14/2010 - 11:20 Permalink
cinnamngrl

PS if this relative victimizes another family member after you cover this up, then what?

Wed, 07/14/2010 - 11:23 Permalink
Aaron

Hi Qwallace,

Welcome to this community :)

If your parents don't want to press charges on the relative, then I am afraid there is nothing much they can do other than paying off the dues, and repair their credit. However, can you tell what kind of account is this?

Thanks,

Aaron

Wed, 07/14/2010 - 11:59 Permalink
qwallace1@yahoo.com (not verified)

Thanks for your help I appreciate the information.

Wed, 07/14/2010 - 15:34 Permalink
sdchargers_63

It's pretty sad that a family member can even THINK about doing something like that. I can't imagine how the rest of the family feels. On the other hand....it's exactly this.....someone violated your credit..period. I agree with the posts above...I think you should press charges.

Fri, 07/16/2010 - 12:04 Permalink