10-23-2012 01:42 PM
I have an old AMEX account that was opened in 4/1997 and went into collections a few years later (approximately 2001/2002).
I have not made "any" payments on this account in at least ten (10) years, however it still appears on my Credit Report as a "Bad Debt/Collection" and I noticed while reviewing my report today that it shows the "date of last activity" as 2/09, however I have not paid anything towards this account since before it went into collections ten (10) years ago.
Over the years I have been hounded by various collectors (some AMEX and some not) on this $1,375 debit but have never paid anyone or agreed to any of their offers. Recently, I also received some calls from a some lawyer (or at least that is what they said they were) requesting them I call them about an unpaid debt and I believe it is in reference to this debt as I had a similar call a few years back and when I called it was about this account, plus this is my only account in bad standing.
Shouldn't this account have come off my credit report by now or will it soon?
I thought bad debit came off your account 7+ years after your last payment activity on the account.
Any advise is GREATLY appreciated as this is the only bad account I have on my credit report right now and I really would like to get it removed.
10-23-2012 02:51 PM
it gets removed 7 to 7 1/2 years after the first 30 days late notation that lead to the charge off. If it's still reporting you can dispute this account as obsolete.
10-27-2012 10:19 PM
The collections can vary with your states SOL but if you have the cash to pay it off you can always inquire about there Optima oasis program
myFICO is the consumer division of FICO. Since its introduction 20 years ago, the FICO® Score has become a global standard for measuring credit risk in the banking, mortgage, credit card, auto and retail industries. 90 of the top 100 largest U.S. financial institutions use the FICO Score to make consumer credit decisions.>> About myFICO