After those are paid generally how long do they remain on you credit report????
2007-03-12 19:56:07 · 6 answers · asked by kenn g 1 in Business & Finance ➔ Credit
They will remain the same length of time that they would if you do not pay. This is for credit cards? If so it is 7 years from the first time you were 30 days late and never brought the account current leading to the charge off. The reporting SOL "cannot" be legally re-aged.
A paid negative is no better than an unpaid negative.
Before you pay and if the accounts are with a collection agency, you should send the collection agency a debt validation letter. Make sure the amount they are claiming is the accurate amount and make sure they have a legal right to collect the debt. (they have been known to illegally inflate amounts and to even try to collect on debts they have no legal right to collect on)
Then after they validate, send them a pay for delete letter. Requesting that they delete any negative tradeline they have placed on your reports upon payment.
Be sure to send everything certified mail return receipt and do not speak to them on the phone.
You should also check the collecting SOL in your state. If you are out of the collecting SOL you are not legally bound to pay.
You should also check to see if your state allows the collecting SOL to be re-set if you make a payment or an agreement to pay.
If your state allows that and you make an agreement to pay a partial amount as payment in full, the collection agency may continue to try to collect the remaining balance, sell the balance or sue.
You might want to click on my profile and do some reading in the links to the FDCPA, FCRA, etc.
Learn your rights and learn how to use them.
2007-03-12 20:20:51 · answer #1 · answered by echo 7 · 1⤊ 0⤋
The statute of barriers is maximum states on debt is 4-6 years. The statute of quandary federally is 7 years. meaning that for the time of in basic terms some years, devoid of making any money, this debt would be long gone out of your credit report (you would be able to could desire to request that or no longer it has bumped off in spite of the indisputable fact that that's taken off.) that's amazingly significant: while you're making one charge in direction of that debt, you restart the statute of barriers from day a million. Morally, you will desire to pay one's charges. Realistically, in case you do no longer pay your debt and lay low for right here couple of years, it is going to all bypass away like magic. what's the main considered necessary ingredient to renowned? do no longer try this back. good success.
2016-10-02 01:06:09 · answer #2 · answered by wisniowski 4 · 0⤊ 0⤋
Charge Offs will remain on your credit for about 7 years, but you could offset those by applying for new credit cards. Make on time monthly payments and keep your balances low and it will increase your credit score over time.
A site at http://www.bad-credit-credit-card-for-people-with-bad-credit.info/ has a list of credit card providers for people with fair to bad credit.
2007-03-13 01:52:33 · answer #3 · answered by Anonymous · 0⤊ 0⤋
I have placed this in the source box. There is a wealth of information there and a great free debt management software program. I bookmarked the site as I return to it often for the advice it offers. I hope this helps you.
2007-03-12 21:22:55 · answer #4 · answered by Anonymous · 0⤊ 0⤋
don't pay the ones that are over 3 years old, if you pay them it will hurt you more than it will help.
2007-03-13 03:06:00 · answer #5 · answered by babycake 2 · 0⤊ 0⤋
you have to pay them
2007-03-13 01:03:24 · answer #6 · answered by hendy h 2 · 0⤊ 0⤋