I found this board and www.qualitycreditrepair.com/ at the end of Dec, 2000. I had 5 negs on each report (total of 15) that I wanted to get rid of before I began pre-qualifying for a mortgage. The great advice on both the boards helped me to zap all but 2 baddies on each report. Then I noticed the verbiage on the info that Equifax sends you with your report relating to NY state residents: "New York State Residents Only: Satisfied judgements remain 5 years from the date filed; paid collections remain 5 years from the date of last activity" I started asking around and because of your input I found the actual NY State law regarding this: http://assembly.state.ny.us/leg/?cl=44&a=53 People still weren't sure that it was a sure thing, and wanted me to update them with the results. Well... I recently moved in with some relatives in NY, got my NY driver's license, sent in a copy of it to all three CRAs asking them to update my address. They sent me back updated copies of my report. POW! Equif and Experian were clean! TRU still had the 2 items on it, but I called cust service, and the rep said, "Gee, they should have come off automatically, let me DELETE them for you." DONE and DONE!! So, if you have SATISFIED judgements and/or collection accounts that are older than 5 years, and want to speed up the clock, find a relative (college friend, neighbor's sister, whatever..) in NY state, and move in with them for a while. Saving a few points on a mortgage over 30 years will definitely cover any outlay the move may cost you now.
Re: Moved to NY, cleared all ! None of my bill cycles has caught up to my move yet, so all I sent the CRAs was a copy of my SS card, and the new temp license from the DMV. I did not want to wait any longer than I had to, and both documents were enough to show identity and residence. I thought they may write back saying they wanted the permanent license, but nope.
Re: Moved to NY, cleared all ! Why would you need a license for that. A simple non-driver State ID should do. Saar
Re: Moved to NY, cleared all ! Actually it's possible that even a credit application with a NY address would do. Once the lender makes the inquiry, that address is part of your credit file. If you apply w/ Capital One, they'll inquire w/ all 3 bureaus. You may not get the card w/o further address verification, but it should register the NY address in your file. Saar
Re: Moved to NY, cleared all ! I guess that would work just fine, because once it's been deleted, they can't add it back (barring any less than legal actions by any collection agency that tries to re-age, or make a duplicate entry after you're address changes back) Because you can't request your credit report from any of the CRA after that without changing your address again. They require your driver's license and SSN card, and send it to the address on file, or driver's license address, but if you have current DL for some other state, they probably will figure out what's going on and you'll be in trouble.
Re: Moved to NY, cleared all ! Hi .. I posted these questions a day or so ago and didn't get any answers so I shortened them up and am trying again. 1) Does this 5 year reporting limit apply to the orginal creditor who charged off the account AND the collection agency that it was sold to? 2) Suppose I had an account that was charged off and sold to a collection agency. Would paying the CA an agreed upon amount result in both accounts (orginal and CA) being deleted at the 5 year mark even if the payment is less than the orginal creditors charged off amount due? 3) Is it correct that the NY "Fair Credit Reporting Act" applies to my judgment that was filed in NY and any accounts that I opened up while residing in NY, even if I currently reside in Texas? Thanks, Linda
Re: Moved to NY, cleared all ! Linda, I'm no expert, but my reading of the statuate says that they go by last activity for the paid collection accounts (when the account went bad) and by the filing date for satisfied judgements. I'm not sure how your #1 and #2 scenarios fit in there. Also, I thought only 1 entity could own an account, so you shouldn't have both the original creditor AND the collection agency listing the same item. (the board goes over that somewhere in the archives. As for #3, I also used to live in NY, and that is where those accounts went sour, and the judgement filed. Even though I lived in a bordering state until my recent move back to NY, the CRAs would not delete the NY based accounts. As soon as I had that NY address again, they were pretty much automatically dropped. Hope this helped.
Re: Moved to NY, cleared all ! If I wasn't so sick and tired of NY, I might consider this. I have a stupid little paid charge-off that is 4 years old. But I don't want to see my picture on a NY license again. If you lived in NY when you got your judgement, I suspect they follow the NY rules even if you now live someplace else. I paid a NY judgement for my husband a couple years ago from the state where we live now.(it was 5 years old) and it was gone within a few months. I was happy to see this but would hate to count on it.
Hi there Thanks Greg and Tana, Got kind of a mixed response so it looks like it's not all that automatic as far as it dropping off or maybe it depends on each particular credit bureau and how they keep tabs on accts opened in NY. As far as having duplicates I have gone through the archives and don't quite understand everything I've read. It make's sense that the orginal creditor and the CA can't both be saying I owe "x" amount of dollars for the same account but what about when the original creditor says charged off/ zero balance and a CA says I owe? Is that still considered a duplicate? Linda
