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CREDITOR GOING OUT OF BUSINESS

Discussion in 'Credit Talk' started by Doug, Jan 1, 2001.

  1. Jan 1, 2001 #1
    Doug

    Doug Well-Known Member

    If Credit Issuer is going out of business, not be taken over by anyone. Better to call and close account by consumer request. Or what would happen to account staying on credit reports by you do nothing at all.
     
  3. Jan 3, 2001 #2
    Nevo

    Nevo Guest

    RE: CREDITOR GOING OUT OF BUSI

    I'd keep the account open.

    It'll show up in its current state for 7 years. As long as that's good, keep it there.

    If you ever decide you don't want it there, dispute it. Since there's no one left to verify the account, it'll have to be removed.

    -Nevo
     

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