Rebuilding Your Credit

[southernficoaddict]

I feel like I have no answers for anyone, only questions.  Here is another one.  I have been more focused on DH's credit report than mine, but I just took a good look at it.  I have an account from a finance company from 1997 that is reporting as "unrated or bankruptcy"  with a zero balance and it says I never paid late.  This is the oldest thing reporting on my TU report.  How much damage is that status doing to my score?  Will having it removed lower my score even more because it will lower my credit history length?  What do I do?

[marty56]

I have that for 3 accounts on my TU report.  Two of them are installment accounts long ago closed. 

There was a posting about this awhile back but I dont remember where.  I dont think it is hurting your score though.

[Wonderin]

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marty56 wrote:

I have that for 3 accounts on my TU report.  Two of them are installment accounts long ago closed. 

There was a posting about this awhile back but I dont remember where.  I dont think it is hurting your score though.

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It may have been my post ... I have a "unrated/bankruptcy" from an old Sears account (circa 1995) and it shows as having no lates, pays as agreed. It gives me good history and seems to be helping my score.

I don't think the systems see the "bankruptcy" status ... 'specially since I've never filed for one!!

I'd leave it alone if it's a TL that's been open for a long time.