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kgkphd wrote:As for the seven year limit --- don't hold your breath. I've received some credit reports that actually have "Date Scheduled for Removal" on them. The interesting thing is that not all the reports, in fact most of them, do not contain this information. I was LIVID when I saw some of it. Nine, ten, eleven years were there. Bankruptcy --- off the record after seven years (by law I'm told) --- TEN years.
kgkphd wrote:I have paid off old bills and negotiated others.
kgkphd wrote:As for the seven year limit --- don't hold your breath. I've received some credit reports that actually have "Date Scheduled for Removal" on them.
kgkphd wrote:I was LIVID when I saw some of it. Nine, ten, eleven years were there.
kgkphd wrote:Bankruptcy --- off the record after seven years (by law I'm told) --- TEN years.
kgkphd wrote:Once the account is closed for delinquency, they contiue to charge you monthly interest and report it monthly --- for about a year --- as a new delinquency with increasing balance. For the next year, the same thing happens about quarterly. So, what they are doing is extending the date that this delinquency will stay on your record.
kgkphd wrote:Does paying off your bills make a difference?
kgkphd wrote:it takes a load off your mind and gets you out from under the harassment of collection companies.
kgkphd wrote:You may not know this, but if a collection company cannot collect from you, they sell the debt to another collection company, and the whole routine --- including reporting --- starts all over again. On your credit report, its reported as a new debt without reference to your original delinquency.
kgkphd wrote:Only removal of these offensive items will inprove your scores with regard to them.
kgkphd wrote:Credit agencies are nothing more than self-righteous bastards, as are the people who take self-important pleasure in reporting to them.
kgkphd wrote:We're all dead-beats and con-men to them.
@Anonymous wrote:I've just read the new myFICO ASK column --- about paying off old bills and its affect on FICO scores and I think it's mostly garbage. Let me tell you my experience.I have paid off old bills and negotiated others. I've worked hard to clean up my credit --- BUT paying those bills does NOTHING for your FICO scores. As long as that delinquency remains on your credit report, you're screwed. No matter what I paid off, nothing went up in the way of FICO scores...
@Anonymous wrote:
but again, the CRAs are not required to include it on your report.
@Anonymous wrote:
@Anonymous wrote:
but again, the CRAs are not required to include it on your report.
Sure they are.
(g) The term "file," when used in connection with information on any consumer, means all of the information on that consumer recorded and retained by a consumer reporting agency regardless of how the information is stored.
(a) Information on file; sources; report recipients. Every consumer reporting agency shall, upon request, and subject to 610(a)(1) [§ 1681h], clearly and accurately disclose to the consumer:
(1) All information in the consumer's file at the time of the request,