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Valued Member
Posts: 33
Registered: ‎02-01-2008
0

Adverse accounts on credit report

I have several accounts that went to collections or were charged off in 2001.  On my credit report there are dates in which these items are to be removed.  All of these adverse accounts are due to be removed this year, the latest in June.  What will happen once these items come off of my report?  Do i need to do anything to get them off, or will they just automatically come off?  Will they come back to haunt me later (one was for a repossession up to $9000 now)?  Should i apply for an unsecured credit card to help rebuild my credit? What do i do now?
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Getting back on track is a long process!
Valued Contributor
Posts: 2,385
Registered: ‎09-10-2007
0

Re: Adverse accounts on credit report

They should come off by the end of the month they are scheduled to automatically.   However errors do occur and you will need to dispute as 'obsolete'.  This is an easy dispute to resolve because they already have the 'documentation' necessary.
 
It should never reappear on your reports after that unless bought by an unscruplous CA (save your reports!) who re-ages it.
 
A CA can always try to collect on t - if past SOL (check this and KNOW what they are) you tell them to pound sand (actually you C&D them with the SOL info and they get the message).
Now a member of the UNOFFICIAL 700 Club - Plus scores of 734-734-747
Valued Member
Posts: 33
Registered: ‎02-01-2008
0

Re: Adverse accounts on credit report

Do i use the SOL in the state where i live now or where the debt occurred?
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Getting back on track is a long process!
Valued Contributor
Posts: 2,374
Registered: ‎03-15-2007
0

Re: Adverse accounts on credit report



tabby wrote:
I have several accounts that went to collections or were charged off in 2001. On my credit report there are dates in which these items are to be removed. All of these adverse accounts are due to be removed this year, the latest in June. What will happen once these items come off of my report? Do i need to do anything to get them off, or will they just automatically come off? Will they come back to haunt me later (one was for a repossession up to $9000 now)? Should i apply for an unsecured credit card to help rebuild my credit? What do i do now?





Definitely you want to get the credit card...preferably two or three of them. Just keep your balances low...even $10 is quite enough. Getting rid of NEGATIVE information is only the first step to recovering your credit. The next, and equally important step, is to add POSITIVE information: accounts paid on time.
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in a credit-scoring postnuclear Stone Age...
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