Rebuilding Your Credit

[JoshInReno]

I have 2 medical collections on my report dated 06/2006 from National Business Factors. I looked them up online and they do not appear to be a friendly company to deal with.

Should I just wait them out? I am unaware of the DOFD at the moment - but I really don't want to remind them of these accounts as they SHOULD fall off in another 6 months or so.

Worth pursuing?

[RobertEG]

By wait them out, I presume you mean wait for the CR exclusion period to expire.

That is always an option, and many will be content with CR exclusion as sufficient shield against future creditors becoming aware of the unpaid debt merely by pulling your CR.  But CR exclusion does not eradicate the debt, nor serve as basis to answer no if asked whether you have any old, unpaid delinquent debt.

It's a personal decision.  It is always best to have no unpaid, delinquent debt.

As for DOFD, when did you have the medical service, and did you make any payments?  Depending upon the billing of the medical provider, you should be able to make a pretty good guess as to the date you first became delinquent.  Add 7 years and 180 days to that date, and that is the maximum date that any collection on the debt can remain in your credit report.

[Shogun]

+1  and if they were listed for 2006 then they are old and getting older.  What's the SOL of your state?  Chances are it's past it.  You could try to settle with a PFD, offer them an amount and ask for deletion.  

[JoshInReno]

I found this online:

Under Nevada state law, there are several statutes of limitations:

• Notes Payable (credit cards) NRS 104.3118: Statute of limitations is 6 years.
• Consumer Lease NRS 104A.2506: Statute of limitations is 4 years.
• Warranties NRS 116.4116: Statute of limitations is 6 years.
• Debt-Management Services, (effective July 1, 2010), NRS 676A.780: Statute of limitations is 4 years.

I'm assuming that collections fall under Debt-Management Services?