There is a $450.00 collection overdue in my record from 1995. The only solution i know is to pay $200.00 for an internet site which does not guarantee it will be cleared yet charges an additional $39.00 per month. What should i do???
2006-11-24 12:38:23 · 7 answers · asked by Alex R 1 in Business & Finance ➔ Credit
They can't hold that against you. It's over 10 years old. Statute of limitations drops it after SEVEN years from affecting your score, and 10 years as a bad debt. Notify the credit bureaus that debt is out of date and needs to be dropped. Then, if anyone contacts you about it, tell them to look at the date, drop the issue and be happy, or continue talking with your attorney at the courthouse when you sue their asses.
2006-11-24 13:55:16 · answer #1 · answered by Roosterkroozer 4 · 1⤊ 0⤋
Don't invest no money into something that isnt guranteed because it may be a scam. I would get a hold of your credit report you can go to a site called www.annualcreditreport.com and print off the form and send off for your credit report from all three bureaus and get a hold of who you owe the money too and if you've been getting letters from collection agencies issue cease and desist letters that will make them back off until you get your plan in order. I would also consider a credit counselor to help maybe work out some payment plan so you can get this out of the way. Contact a credit/consolidation counselor like Care One or Cook Consolidation and begin to work out what you need to do to pay this debt off.
2006-11-24 20:46:21 · answer #2 · answered by nabdullah2001 5 · 1⤊ 0⤋
contact each of the credit bureau's and tell them that you want to dispute how long the collection has been on your record, it should have been deleted from your credit report after 7 yrs. You can contact each credit bureau online for free don't pay any one a dime to resolve this matter you can do it yourself besides if that is the only collection you have on your credit report it really should not adversely affect your credit score. Good Luck.
2006-11-24 20:51:21 · answer #3 · answered by Michelle S 2 · 1⤊ 0⤋
you would be better off to pay the bill a little at a time. Call and see if they would settle for $25.00 a month paid by the same date every month and don't be late. Or you can ask if they would settle for a lesser amount in a lump sum. That is what I did and the amount went from $1,000.00 to $500.00. I had to borrow the money from family and pay them payments.
I was not paying attention to the date, I agree it has been to many years for them to collect.
2006-11-24 20:49:42 · answer #4 · answered by Nani 5 · 0⤊ 0⤋
Don't do that. Pay the people and get it noted as a 'paid collection'. It'll stay on there for a while, but you'll be okay after a few years.
2006-11-24 22:30:21 · answer #5 · answered by Anonymous · 0⤊ 0⤋
That should be off your credit report by now. You need to contact the credit report company and dispute the item because items are supposed to come off in 7 years.
2006-11-24 20:47:49 · answer #6 · answered by neinmom2one 3 · 1⤊ 0⤋
I wouldnt use that site that dosent gurantee it. I would call collections and pay a litlle bit a month till its paid in full. Even If its 20.00 they have to accept the payment.
http://equifax.com
2006-11-24 20:42:33 · answer #7 · answered by Support Our Troops 3 · 0⤊ 0⤋