6 year old deliquency. early removal?

[nlyngso]

The answer is YES! - I see that the Collection agency no longer has the account. If you file a

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@Anonymous wrote:

I had an old loan that went 90+ days back in November 2006, I ended up paying it off completely in 1 full payment. long story short I didn't even know my parents had opened this loan for me. in the end I ended up paying it in full just to make it go away.

Fast forward to current time. It has been 6 years and 3 months since the last report on this, I am looking to buy a house and this flag is bringing my score way down, possibly 20-30 points or so. Is there any way I can call the US. Dept of Education and have them remove this early? Has anyone done this before?

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dispute with the credit bureaus, the collection agency will not be able to verify the accuracy.

[DaBears]

@ Shogun, I took 2 muslce relaxers last night. I slept really good

[Shogun]

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@DaBears wrote:

@ Shogun, I took 2 muslce relaxers last night. I slept really good

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ZZZZZZZZ.........  

[Reighn9]

I don't know how much impact a 6 year old debt has on your score, but every time I get a score explantion or credit denial the key factor liisted is "you have one or more serious delinquencies and one or more late payments".  My next to the last late payment was 7 years ago, account closed, paid in full, still on report.  Last 60 day late is 6 years 5 months, current account, still open and using, only reported on one CRA as late in status. I had emergency issues in 2006 and talked to my creditors, but it did,t help with some. I haven't had a late payment since 2006 but the notes on the credit reports need to be romoved.

[Reighn9]

It's sometimes better to dispute wwith the company. I disputed a collection account who had never contacted me, listed my account as a charge off/paid in full.  I had only had late payments, paid the account in the store like I had always done. The collection appeared on my report fter the account was paid and closed.  First late payment November 2005. I disputed this for several years with the CRAs.  Last May (2012) Equifax and TransUnion removed the account but Experian or the company added a KD to payment history in June 2012 reaging the account. I wrote the company and they removed the entry.

[spikedirt]

At this point in time the delinquency isn't pulling your score down very much.  FICO pro rates (for lack of a better term) scores over time so your score goes up as the delinquency gets older.  I'm not saying don't remove it, that's up to you, but be prepared to be disappointed in the effect on your FICO score.

[rckstrscott]

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@spikedirt wrote:

At this point in time the delinquency isn't pulling your score down very much.  FICO pro rates (for lack of a better term) scores over time so your score goes up as the delinquency gets older.  I'm not saying don't remove it, that's up to you, but be prepared to be disappointed in the effect on your FICO score.

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It depends on the amount of baddies...

If this is the only one, that 'prorating' you describe gets completely changed do to rebucketing anyway..

So like, yes, if you have 5 negatives, that old one isn't doing much at all... but if you only have one, and its that one? It could be impacting more than you think, esp if rebucketing would put you in a high achiever range.. (ie everything else looks good, good mix, good util ect ect)

-scott

[guiness56]

You can't get rebucketed with collections on your CR.

[Heidila]

I have some medical disputes that are still showing on my report.  What can I do to get them removed?

[Reighn9]

What is "rebucketed"?  I haven't heard of that.  My almost 7 year old collection account was reaged with a KD placed on my report by either the collection agency or Experian, and my summary status showed time since delinquency 2 months when I saw it.  This a result of a dispute with the CRAs.