I have read alot of great info on this board but confess my mind is whirling..can someone clarify or point me to opinion letters etc..concerning date of last activity and paid or settled collection/charge off accounts. I have been working on cleaning up my credit and I have several collection/charge off accts either recently paid or currently unpaid. I need to pay off the remaining ones I know of course(thanks to the board) I should start by negotiating for deletion but if I can't does the paid notation restart the clock..most of these are 5 and 6 years old.If it makes a difference I will be paying in a lump sum no payment arrangements. thanks all
http://www.ftc.gov/os/statutes/fcra/kosmerl.htm http://www.ftc.gov/os/statutes/fcra/johnson.htm http://www.ftc.gov/os/statutes/fcra/amason.htm
Making a payment does not restart the clock. See here: http://www.ftc.gov/os/statutes/fcra/amason.htm
thanks!!! read and copied those links..hmm need to dispute already paid student loans too it looks like as the guarantor assigned each one a new acct number,gave them a new date opened AND changed the date of last activity when I paid them off..of course all three Credit bureaus just keep verifying them
