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Question By
Rediculios

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I consolidated two credit cards with a company. Are they still hurting my credit?
They show up under high marks on my credit report. How to get them removed?

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Top Contributor
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What do you mean by "high marks"? Do you mean high impact? Which category? Missed payments, high utilization, collection account? You need to give us more information to work with.
Were the credit cards already charged off, or are the accounts open? If the accounts are still open and you just did a balance transfer, it will probably help. If that's it, maybe you just need to give everyone a chance to report the changes to the bureaus.  If the accounts were closed and you took out a loan to pay off collections, it may help your score slightly because your total debt is reduced, but the derogatory mark on your credit doesn't go anywhere. You now have closed collection accounts rather than open collections.

As for getting them removed, that won't happen. You can change the utilization by paying cards down, but everything else on your report (missed payments, charge-offs, collections, inquiries, closed accounts) is there to stay. You can't remove something just because you don't like it.

Top Contributor
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Just to clear things up a little for the OP, when Krissie says negative information is "there to stay" she does not mean forever. Most negative info only remains for 7 years (with the exception of federal loans, court ordered debt, etc). And as Krissie also said, we need more information about your situation and what you are asking in order for us to give you any meaningful help. Just don't give any personal info. What do you mean by "consolidated"?

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