Getting rid of stuff older then 7 years?
Date: Mon, 05/16/2005 - 16:32
Getting rid of stuff older then 7 years?
I have stuff on my credit that is more then 7 years old, some even 10 years old and the companies are no longer in business or they have no more record of me.
How do I get these off the credit report? We want to cosolidate our bills and can't get a loan becuase of callateral problems.
They also say they "wont" count the old stuff, but in the last loan I applied for they mentioned of the things that WAS really old. When I told them how it is was they were like, "Oh sorry, our mistake...."
ARRGGG, suggestions are helpful to clean up credit.
Hi ShawnI will suggest you to write a letter to the credit b
Hi Shawn
I will suggest you to write a letter to the credit bureaus and mention this problem in that letter. Some of the sample letters are posted at http://community.debtcc.com/letters/index.html to give you a better idea of writing it.
Please do let us know you feedback.
Regards
Roxette
Some items can remain 10 years, if there is nothing derogitory t
Some items can remain 10 years, if there is nothing derogitory to the reporting then leave it, it is helping your credit more then hurting.
If there is negative items, and you have back copy of credit report showing a different drop off date, then use that, or any statements from the creditor you may have in your records.
If the companies are out of business on the negative listings, then just inform the credit reporting agency of the status of the company. If they can't update their reporting they are not allowed to have it on the credit report.
When does debt clear
I want to know if I should start paying on my debt, or will it eventually clear itself.
Hi trece25 Welcome to the forums. If you have some unpaid
Hi trece25
Welcome to the forums.
If you have some unpaid bills, you can do two things. Either you pay it or you don't pay it.
If you pay it to your creditors, your credit report will be updated by your information providers and improvements will be seen in your credit file. You will be open to new credit as the creditors will find your credit line in good shape after you have paid your past debts.
Considering the other side, if you don't pay it, your credit report will start showing your accounts as delinquent and the damage will continue as long as it can get charged off. You will reach to the lowest credit rating R9 which is the worst damage you can do to your line of credit. No lender will be willing to extend credit to you because they will see your inattentiveness towards your past debts. This will continue for 7 years till the reporting time of the debt is not over. After 7 years, law allows the respective account to disappear from your credit report.
As a responsible citizen, I will never suggest you to leave your debt unpaid. In this world, you need to maintain your credit worthiness so that you are ready to meet any type of situations for the future.
Regards
Roxette