Disputing charged off dormant debt within SOL with CRAs. BAD IDEA?

[Superduper2014]

If I were to dispute wrong information on a charged off credit card that has not been reporting since 2010 and the OC has not tried to collect since 2011, but it is still 3yrs until SOL runs out, what is the chance that they will start collecting on it again?

Debt was for almost 8k with BOA.
They stopped collecting on it back in 2011 right after I mentioned BK to the collection agency they hired.
I remember that someone mentioned that since I told them about the BK that my account would go into a BK status and whatever that meant for them internally, it appears that it also meant they would not continue with collection efforts.

Since I am starting to read about credit repair and wanting to clean my credit, I am not sure that any cleaning will do me any good if I still have this charge off showing unpaid, so that is why I wanted to try and get it deleted hopefully by disputing wrong dates of late payments and hoping they will not get back to the CRAs and I get it deleted. But it might also get them to hire another CA or sell it to a JDB which would make things worse.

Thoughts or experience in this ?

thanks

[Anonymous]

If you dispute it for that the OC can simply update the correct information and it stays on. That is a big debt to still be under the SOL and new enough that they will be able to verify. Did you file BK or just mention it to them? If not, best bet would be to do a PFD preferrably with the OC if they will recall it. 

[Superduper2014]

HI,

I did mention BK to them and I think that is a potential reason whey they stopped collection efforts to this day.

You bring up some valuable point of view. You say that 3yrs from charged off is still new and because it is a high balance, they WILL verify.

So I wonder, all the success stories I read of deletions, are these only very old out of SOL accounts with low balances ?

What about 3yrs old account with high balances, any success stories?

[Anonymous]

You can try it- but even if they can't get back to the credit bureaus in 30 days and it gets deleted- they can always put it back on the credit report. If it is legitimately yours and 7 years hasn't pased- it will come back to haunt you. Your best bet is to try a PFD and if they won't do that- pay and GW them to death. 

[Anonymous]

If this hasn't gone to a CA yet there is no need for DV. If it is your debt they will be able to verify it. When you mentioned BK they may have put it in a holding status where it remains. Anything could cause it to hit a collection trigger and they would come after you either through CA or civally. You might want to offer a PFD with them if it is possible with your circumstances. It will not just go away. Good luck with it.

[Superduper2014]

thanks for your replies.

I know this won't go away until settled. I was hoping it would fall off the credit reports though by chance until they decided to start collecting again, but it looks like doing that will trigger them to start collecting again and i can't settle it right now.

Which brings me to think that working on the other charged off accounts that I have already settled and trying to clean that up won't really do me much good in the credit repair effort without dealing with this BOA charge off that is still unpaid. What are your thoughts on that?

[Superduper2014]

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[Imperfectfuture]

There is no quick fix.

Pay what you can (I do that with small medical collections).

I know it seems overwhelming. It was so daunting that you thought of bankrupcty. The longer it stays, the less impact it will have. But this forum does not advocate disputing valid debts just for a quick fix. AND, when i did one because of a mistake reading through fico, it came back and bit me hard (still had to wait for removal).

Options: bankruptcy (chapter 13 not as harsh, but not pristine record). Or, pay what you can, only in full and for delete, and wait for rest to fall off like the rest of us did. Either way, stuff stays in your report.

There is no quick fix, and don't hire debt fixers, they will ruin you with the credit bureaus.