Anyone have samples on how to address debt writeoffs on credit report? It occurred during a time of extreme stress. I was dealing with a family members mental health and my own as a side effect of the stress I was under. So if anyone has done a successful memo for a waiver before please show how you addressed these discrepancies on your credit report.
A “waiver” . . . I’m not sure what you are asking about. Are you currently cleared? Are you in the process of being investigated? Have you received a denial?
You have to understand that “write offs” are not “forgiven” debt. When a creditor issues a write off on your credit report it simply means that they are not trying to collect that debt. You still owe the money to them and that is the way that the government looks at it.
The way to mitigate this is to explain the way that the debt was incurred, why you fell behind to severely and what you are doing about it now.
Many creditors will settle this debt for far less then the amount owed. You may be able to make payments, even on a reduced amount. While they will expect you to be trying to repay, you CAN clear without doing so. It just makes the job a lot harder and takes more time.