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Regular Contributor
Posts: 133
Registered: ‎04-24-2013
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Outstanding debts?

Since negative tradelines and entries can fall off due to time (7.5 years, right?) or disputes with CRA/creditor/CA, or just not reported....how does one find out if there is still outstanding debt in their name?

 

Just because it isn't listed on a credit report doesn't mean you are not still financially responsible, right?

 

Starting Score: (04/18/2013) EX 572, TU 577, EQ 554
Currently: (12/2014) EX ?, TU ?, EQ 766 (new version)
Lender Pull (12/03/14): EX 759, TU 750, EQ 766
Regular Contributor
Posts: 188
Registered: ‎04-05-2013
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Re: Outstanding debts?


los_west wrote:

Since negative tradelines and entries can fall off due to time (7.5 years, right?) or disputes with CRA/creditor/CA, or just not reported....how does one find out if there is still outstanding debt in their name?

 

Just because it isn't listed on a credit report doesn't mean you are not still financially responsible, right?

 


Maybe someone with more experience can provide you with more information but here is a link to a somewhat similar question:

http://ficoforums.myfico.com/t5/Rebuilding-Your-Credit/What-happens-to-CO-and-Collections-after-7-or...

 

As an FYI, I did request my CR's from the other CRA and the only surprise (other than a lot of my outdated debt not reporting) was several payday loans that I took out several years back (oh my) and an old Sprint bill that had since fallen off of my CR's.

 

In my experience, it seems that all of my outdated debt has been deleted (and not reinserted into my CA's) and I only occasionally receive correspondence from JDBs and CA's that I've had business dealings with since 2005.

 

As far as I know, I don't think there is a database of old debts/collections but then again, I am still relatively new so I may be mistaken.

Back in the garden until 10/2015.

Starting Score: EQ 714, EX 658, TU 691 (pulled by mortgage lender on 10/7/14)
Current Score: EQ 656, EX 660, TU 660 (FAKOS pulled on 3/26/15)
Goal Score: EQ 760, EX 700, TU 760


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Valued Contributor
Posts: 2,792
Registered: ‎03-15-2012
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Re: Outstanding debts?

I'm going to make this sound like a joke. Not being serious, but these actions would have serious consequences, if you do have old debt lurking...

 

Opt in, and do a mortgage app...

 

This would bring all the vultures to the dinner table at once.

 

 

Epic Contributor
Posts: 22,398
Registered: ‎01-17-2008
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Re: Outstanding debts?


MaRain wrote:

los_west wrote:

Since negative tradelines and entries can fall off due to time (7.5 years, right?) or disputes with CRA/creditor/CA, or just not reported....how does one find out if there is still outstanding debt in their name?

 

Just because it isn't listed on a credit report doesn't mean you are not still financially responsible, right?

 


Maybe someone with more experience can provide you with more information but here is a link to a somewhat similar question:

http://ficoforums.myfico.com/t5/Rebuilding-Your-Credit/What-happens-to-CO-and-Collections-after-7-or...

 

As an FYI, I did request my CR's from the other CRA and the only surprise (other than a lot of my outdated debt not reporting) was several payday loans that I took out several years back (oh my) and an old Sprint bill that had since fallen off of my CR's.

 

In my experience, it seems that all of my outdated debt has been deleted (and not reinserted into my CA's) and I only occasionally receive correspondence from JDBs and CA's that I've had business dealings with since 2005.

 

As far as I know, I don't think there is a database of old debts/collections but then again, I am still relatively new so I may be mistaken.


There is something there.  Don't know the how, what, where aspect but I do know it does happen that unpaid debt can show up in certain circumstances.  It happened to me.

Regular Contributor
Posts: 188
Registered: ‎04-05-2013
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Re: Outstanding debts?


guiness56 wrote:

MaRain wrote:

los_west wrote:

Since negative tradelines and entries can fall off due to time (7.5 years, right?) or disputes with CRA/creditor/CA, or just not reported....how does one find out if there is still outstanding debt in their name?

 

Just because it isn't listed on a credit report doesn't mean you are not still financially responsible, right?

 


Maybe someone with more experience can provide you with more information but here is a link to a somewhat similar question:

http://ficoforums.myfico.com/t5/Rebuilding-Your-Credit/What-happens-to-CO-and-Collections-after-7-or...

 

As an FYI, I did request my CR's from the other CRA and the only surprise (other than a lot of my outdated debt not reporting) was several payday loans that I took out several years back (oh my) and an old Sprint bill that had since fallen off of my CR's.

 

In my experience, it seems that all of my outdated debt has been deleted (and not reinserted into my CA's) and I only occasionally receive correspondence from JDBs and CA's that I've had business dealings with since 2005.

 

As far as I know, I don't think there is a database of old debts/collections but then again, I am still relatively new so I may be mistaken.


There is something there.  Don't know the how, what, where aspect but I do know it does happen that unpaid debt can show up in certain circumstances.  It happened to me.


And of course, we had discussed that old debt lurks in the background in the credit files of the CRA's. 

 

Guiness, you mentioned in the other post that it lurks in the credit file and can be found by others (i.e. mortgage lenders) if they went deep but how long does that last? Surely, it can't stay there indefinitely *fingers crossed*?

Back in the garden until 10/2015.

Starting Score: EQ 714, EX 658, TU 691 (pulled by mortgage lender on 10/7/14)
Current Score: EQ 656, EX 660, TU 660 (FAKOS pulled on 3/26/15)
Goal Score: EQ 760, EX 700, TU 760


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