Wake the dead?

Discussion in 'Credit Talk' started by rant, May 2, 2002.

  1. rant

    rant Member

    Some of you may have seen my newbie post from yesterday (http://consumers.creditnet.com/straighttalk/board/showthread.php?s=&postid=171755). I'm getting set to dispute a few of the items on my report but am wondering if I dare dispute those accounts that are set to drop off my report by the end of the year for fear of waking the dead. Unfortunately, these old accounts are probably the most damaging (a Bank of NY CC and a Wachovia CC listed as charge-off and a Coldata account that had been a collection account, the three total $12k). Any advice from these that have tempted the credit gods or any of these companies?
     
  2. DaveLV

    DaveLV Well-Known Member

    I'd think twice if I were you about disputing things that are going to go away soon.
     
  3. erik776

    erik776 Well-Known Member

    Accounts that are 6 years old have little impact on your credit score.

    Call equifax to get your name and current address reported accurately. They should do this wile you are on the phone. You might call back a week later and ask them to tell you what the address is. This way you don't have to get another report to make sure they did it right.

    You could dispute these two with Equifax if you can find something to dispute.

    -a collection account with status: PAID
    -a Charged Off account with last activity 12/1995

    The 120 day late pay I would leave alone. It will drop off soon enough.

    On the credit building side, you might want to consider getting a secured credit card. You want to have three open and paid as agreed credit lines to get a good credit score.

    The following abbreviations represent credit report inquires that do not count against you on you Equifax credit report. These are also known as soft inquires:

    PRM (promotional)

    AM or AR (review of existing credit account)

    EQUIFAX, ACIS AND UPDATE (you are ether asking for a copy of you credit report or a investigation of an item).
     
  4. Calypso

    Calypso Well-Known Member

    *Accounts that are 6 years old have little impact on your credit score. *


    Wrong! Another misleading "fact" that CRAs peddle.

    I have personally witnessed very large point increases when mild (30 day del) derogs have fallen off at 6 years 9 months. And dramatic increases on
    worse ones.

    A lady at work had an error on her credit report. There was a 60 day del reporting, over 6 years
    old that was not hers. I showed her how to dispute--
    it came right off, her score went up 190 points!

    (she had about 4 other cards with very low balances
    that she always paid on time--no installment, no mort)

    Derogs are deadly. They still hurt even when they
    are old.
     

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