The whole gamut - FICO improvement, SOL, Mercantile Ad

Discussion in 'Credit Talk' started by NJTXGirl82, Aug 4, 2009.

  1. NJTXGirl82

    NJTXGirl82 Well-Known Member

    Hi -

    I got a call from Mercantile Adjustment Bureau saying that they delivered a document to my house (actually my cousin's house with my name and ssn. The woman instructed me to call her back or she would call my employer, either a supervisor or human resources.

    I googled their name and found lots of terrible information about them -- pushy, scammy, sleazy, threatening, etc.

    If this is regarding a debt I had, the SOL has likely expired. I checked my credit report and most of my bad debts will fall within the next year (or they already have).

    My FICO score is 489 - this is due to recent late payments, over limit fees, etc. I have made arrangements with these companies to bring the accounts current.

    A few questions:

    - When an original creditor stops reporting a debt (after 7 years has elapsed), do the collection agencies that purchased the debt cease reporting it too? If they don't, is there any way to get them to stop it? It doesn't seem right that the same debt should carry a trail.

    - Has anyone ever dealt with MAB? I feel like they've been calling me for around a year now, but I've never responded. Any point in responding now? I don't want to get the clock ticking again, especially if it's going to fall off.

    - Any tips/pointers on raising my credit score (other than paying on time, keeping low balances).

    - Once items fall off the credit report, does the score go up?

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