Charged-off accts...

Discussion in 'Credit Talk' started by MEinSoCal, Aug 26, 2003.

  1. MEinSoCal

    MEinSoCal Well-Known Member

    Should i wait until the statute of limitations (4yrs in CA) has passed until i do any type of disputes against my accts in order not to wake up the so-called sleeping giants?

    i have 3 AMEX accts that were all charged off and soon will be approaching statute of limitations.
  2. MEinSoCal

    MEinSoCal Well-Known Member


    doesn't anyone have any advice for me?
  3. rhondak

    rhondak Well-Known Member

    I would like to know the answer to that one as well.
  4. tryinhard

    tryinhard Well-Known Member

    I would say it depends on how soon you would like it removed from your reports. how long is SOON it would be reaching sol? if you need it removed now, go for it, but if you can wait and dont want to risk any lawsuits then wait. It is totally your call.
  5. rhondak

    rhondak Well-Known Member

    Right now I am cleaning up my fiance's credit, not mine. I am not working right now and we can't use my (lack of) income anyway, so I figure mine can wait. But we want to build a house...soon. So I'm working on his. He's recently divorced and there's a lot of little crap on there. I don't mind waiting to tackle mine.

    I went to to get the free credit score they offer (it's just one, so I don't know what the score is for the other 2 CRAs - I think they use Equifax but I'm not sure) Anyway, his score was at 563 there when I checked, but I'm trying to get at least up past that magic 620 mark before we try to get the building loan.

    The loan company has basically already approved us with only 2 conditions. I have to get one particular loan off the CRA (it's only on TU, no where else) and we have to pay on our land for 9 more months - not a problem, but I know for the better rates, it will be better if in the next 9 months, if I can get that score up higher.

    Where do you guys go to get the continuous updates on your scores? Who do you subscribe with and how much do you pay?
  6. MEinSoCal

    MEinSoCal Well-Known Member

    well 1 out of the 3 charged-off AMEX cards has already reached SOL (03/2003) with the other 2 reaching SOL on 06/2004. since they're all AMEX accts, i'm thinking i should just hold out and wait til all 3 are SOL before disputing these.

    currently my fico on EXP is in the low 600s but i'm sure if i can get rid of these 3 AMEX accts, i should be around 700 (at least).

    any other input would greatly be appreciated, especially from the people who've been on the boards a while. thanks.

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