i have recently paid off 2 collections and one judgement, i haved been hearing alot about restarting the clock when it comes to this.these collections were put on my report on 4/99 for judgement, 3/2000 and3/97.did this just start the 7 year clock all over again?? i paid these because i want to buy the house im living in and plan to go to the bank in a few months. i have 3 years of never lates on my open accts.the collection for 3/2000 just showed up month on credit report and i paid it right off. i knew nothing about this one intil then
absolutely not zip Paying a debt that went into collection after 10/97 doesnot restart the 7 year reporting clock. This use to be the case, back in the old days, but not now. This is normally true for older debts, now. However FCRA clearly states that debts stay on your report 7 years from the 1st date of delinquency which is normally 6 months prior to the default date. roni
RE: absolutely not zip thanks roni, makes me feel better about this. I really want to buy this house. there was a collection on there for a past medical bill and im having a hell of a time disputing it. my son is severely disabled and went to the emergency room one night and i recieved a bill for ot and called the hospital 3 different times to give them his medicaid#. they say i never did and reported it to collections. now of coarse its to late for them to be reimbursed. i refuse to pay for it and i was told by the collection agency to write them a letter disputing it. I told them i would.
