Hi, want to clean up credit (550 score) Do items stay on based on original date or date of last activity(such as payment)? I have paid off all but 2 collection accts and have car payment current. Have $347 debt from '04 and $1947 debt from '02. If I pay them off will it make them stay on longer? I would like to be able to buy a house in 3-5 years. Would a secured card help get my score higher? Appreciate your help. see note from Equifax on their site - is this true?
~Equifax is one of the leading credit reporting agencies in the United States -- there are two others. Account details, which are supplied by creditors with which you have an account, include the date the account was opened, the credit limit or amount of the loan, the payment terms, the balance, and a history that shows whether or not you've paid the account on time. Closed or inactive accounts, depending on the manner in which they were paid, stay on your report for 7 to 11 years from the date of their last activity.
2006-08-12
20:40:53
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6 answers
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asked by
happyendingsonly
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in
Credit