Hi. I've done some research and have come up with conflicting answers. I have an old debt with BofA from 2002 that was charged off and I never paid because I felt it was morally wrong (which is a totally different discussion). It fell off my credit report years ago and today I have a "B" credit rating with no delinquencies. I've resumed banking with BofA since. Well, now it's become a slight hassle preventing me from opening new accounts and I was going to settle it to avoid moving my accounts back to Chase. However, I've read that this could update the "activity" or "date" of the collection account which might place it back on my credit report. If this is the case, then it's not worth it to me. Please help. Thank you.
There is and there isn't a chance of that. 2002+7=2009. The account history previous to 2007 can not be reported. If the account is CLOSED, and the payment isn't to reopen the account, the account would stay off, if it is reopened as a new account, it would come back, WITHOUT the old history.
