Debt collectors

[Murph5065]

Hello i am new to this and i am trying to rebuild myself, I am not sure on length of time for my debts to fall off my report which is only 3 reporting, but i was wondering if it is helpful to contact and payless on debt to show paid off or to just let it fall off, which like i said not sure on time period.

I know if i contact them it could restart the aging clock not sure which way to go?

[SouthJamaica]

---

@Murph5065 wrote:

Hell i am new to this and i am trying to rebuild myself, I am not sure on length of time for my debts to fall off my report which is only 3 reporting, but i was wondering if it is helpful to contact and payless on debt to show paid off or to just let it fall off, which like i said not sure on time period.

I know if i contact them it could restart the aging clock not sure which way to go?

---

It is best to pay them in full.

If you can, try to negotiate a pay-for-delete... i.e., if you pay in full they will delete the derogatory reports.

[gdale6]

---

@Murph5065 wrote:

Hell i am new to this and i am trying to rebuild myself, I am not sure on length of time for my debts to fall off my report which is only 3 reporting, but i was wondering if it is helpful to contact and payless on debt to show paid off or to just let it fall off, which like i said not sure on time period.

I know if i contact them it could restart the aging clock not sure which way to go?

---

The DoFD sets the start of the 7.5 yr time period that a CO or CA can report, it is set in stone and cannot be changed.

[KLEXH25]

Look at your credit reports and locate the Date of First Delinquency (DoFD) for each account. Then add 7.5 years to that time to calculate when they will fall off. You can also research each collection agency and see if they will typically delete in return for paying in full.

[Anonymous]

---

@SouthJamaica wrote:

---

@Murph5065 wrote:

Hell i am new to this and i am trying to rebuild myself, I am not sure on length of time for my debts to fall off my report which is only 3 reporting, but i was wondering if it is helpful to contact and payless on debt to show paid off or to just let it fall off, which like i said not sure on time period.

I know if i contact them it could restart the aging clock not sure which way to go?

---

It is best to pay them in full.

If you can, try to negotiate a pay-for-delete... i.e., if you pay in full they will delete the derogatory reports.

---

I agree I recently had a "pay for delete" happen.  It was on a 5 year loan, I had 1.5 years left.  About 1.5 years ago I went through a divorce and I thought I had made the payment.  Long story short I got a 30 day late on my credit in Jan 2019.  1.5 years later (12 days ago), I had gotten some extra money and called them to see if they would "pay to delete" at first they seemed heistant and told me they wouldn't and so I wasn't going to pay in full and than as I was getting off the phone the rep said let me email my Manager.  The Manager called me back and accepted.  Unfortunately when it fell off it only raised my credit score 6 points lol but when it hit my credit originally it took almost 50. 

[Anonymous]

The laws says the 7 year period begins 180 days after the date of the original delinquency. In practice  the CRAs seem to not add that additional 180 days. But they could, if the chose to. This my non-attorney understanding, of course.

[Anonymous]

---

@Anonymous wrote:

The laws says the 7 year period begins 180 days after the date of the original delinquency. In practice  the CRAs seem to not add that additional 180 days. But they could, if the chose to. This my non-attorney understanding, of course.

---

@Anonymous  Very astute observation. What happens is its 7.5 years from the DOFD. When a creditor reports a CO, they have to report the DOFD and then it's 7.5 years from that, which is roughly 7 years from the chargeoff because it can take up to six months to CO depending on debt type, etc.. but yeah the CRAs pretty much let people get off a half years scott free yes.