In looking at other items on CR, there are a few smaller debts which are about 7 years old. These were owed in 1994/1995 but received status updates in 2002 "collection account" and "charged off as bad debt". Does this mean these items will be there for another 7 years? And, if a statute of limitations exists, were they even allowed to report these? My thoughts are to offer to pay these off in full, in exchange for removal of the items from the credit report. What is a good way to go about this?
For anything charged off prior to 1997 ,the 7 yr clock starts at the charge off date,not 180 days after last payment.So go by the charge off date on these old accounts...
How about items that were not charged off? There are some lates on my report that were initiated in 1995 then became current and was late again in 1996 & 1997 and eventually were paid in full - does that mean that they do not come off until 2004? Thanks
I'm not sure about it if you paid, but I believe that it goes by the date you paid it off.It really stinks that they can find all these little loopholes to screw us even longer....lol
If that's the case, it sure doesn't give anyone the incentive to catch up and pay their bills... Wish I would have know that before.. LOL
I might be wrong....I wish i was wrong.....lol but I think it is right. Maybe one of the smarter creditnet people will chime in with an answer
