Getting stuff removed from your credit report?

Question

I have debts that were charged off with an open date of 8/2000. These should be off my credit report now shouldn't they? Also, why is it when an account gets sold to a new collection agency it shows up as a new item on my report with a new open date, when the original debt is over 7 years old now?

Answer 1

It depends on what you mean by "Open Date". If that is the date your original account was actually opened that is not the date you need to look at. The date that determines when it will fall off is the date of last delinquency.

So if you made a payment in 10/2000, but missed the 11/2000 payment. Then 11/2000 is your delinquency date, and it will fall off 7 years from that date, which is after 11/2007, for example.

It does not matter how many times this account was sold or transfered, the creditors can not re-age a debt. So this means that once the 7 years is up on the original, the collection account also must be removed. Once it is indeed past 7 years you can send in a dispute to the credit reporting agencies stating that it is now beyond the reporting period.

Answer 2

Negatives stay on your credit report for 7-1/2 years from the date of delinquency. Collection agencies cannot re-age the item. If you have negatives past the reporting period, dispute them with the credit bureaus as being past the 7 year reporting period.

Answer 3

DB is correct, but she still had the time period wrong...7 years, not 7 1/2.

Send a certified letter to the collection agency and demand that they validate this debt, and provide the "date of delinquency". If they don't supply it, and do not remove this from your report, then sue them in small claims court. It's easy to do, and you will easily win $1000 for your troubles.

They do this stuff because people do not understand their rights, and don't know the law.

Answer 4

Yeah that is authentic. I used to artwork for a form of credit restoration companies, 4 weeks yet I have been given the assumption of the thank you to do it. The honest credit reporting act made it which you will dispute any credit reporting on your checklist. in case you dispute some thing, the credit company has 30 or 60 days (I forget) to instruct the legitimacy of the credit reporting. 60% to seventy 5% of the time, they have not got the time to do it and could take what you're disputing off as a effect. study the honest credit reprting act, write the letters your self quoting the 30 or 60 day decrease they have and then stick to up. bear in mind, say you owe citbank $3,000 from a mastercard you had in college and you get it taken off your credit checklist. once you call up citibank, they'll nonetheless ask for thier $3,000 ebfore offering you with a sparkling card. All this disputing does it take it off your checklist.