What Stays on My Credit Report After I Settle a Debt? | Q&A With Credit Expert Melinda Carrera

Credit educator Melinda Carrera of Street Financial joins Hannah on The Debt Hotline to uncover the truth about debt settlements, credit scores, and your power to clean up your report. Whether you’ve recently settled a debt or are just thinking about it, this episode will help you understand what sticks, and what you can remove.

Mel shares her personal story of credit recovery after a car repossession and reveals why updating your report could be as simple as making a phone call. Learn how to dispute errors, ask for account removals, and rebuild your score in 2025 using tools you already have access to.

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In this week’s episode of The Debt Hotline, you’ll learn:

• [Start] What actually stays on your report after settling a debt
• 06:45 How to remove “paid for less than full balance” from your credit report
• 08:15 Why credit bureaus may agree to remove settled accounts faster than you think
• 13:55 How to dispute duplicate debts and outdated info
• 14:53 How life events, like illness or job loss, can factor into negotiation
• 24:24 What to do if you have a judgment or public record from debt collection

Key insights from Melinda Carrera:

• 70% of credit reports contain errors, check yours closely
• You have the right to ask for settled accounts to be removed
• Being proactive and vocal can lead to faster credit recovery
• Most lenders want to work with you if you’re trying to make things better

To submit a question to The Debt Hotline, you can:

• Call 801-613-8181 and leave a voicemail
• Fill out this form: https://forms.gle/28gd4XFsq6ybN4Qu8
• Send an email to [e-mail]

Learn more from Mel: streetfinancial.net