cancel
Showing results for 
Search instead for 
Did you mean: 

What does this mean exactly? Please help

tag
Anonymous
Not applicable

Re: What does this mean exactly? Please help

All equipment was dropped off at a designated return location. It became delinquent 05/2011 SOL expired 05/2015 in my state. Okay thanks for the advice we'll see what happens.
Message 11 of 13
Anonymous
Not applicable

Re: What does this mean exactly? Please help


@Anonymous wrote:
All equipment was dropped off at a designated return location. It became delinquent 05/2011 SOL expired 05/2015 in my state. Okay thanks for the advice we'll see what happens.

The amount of interest is plausible, if calculated from the date of delinquency 5+ years ago, at an average annual rate of in excess of 25%.

 

My view is leave it be and ride out the next year. If it reappears before then and dispute(s) doesn't work, try asking each of the credit bureaus for early exclusion in late 2017 / early 2018. After Apr-2018, it should be excluded, regardless.

Message 12 of 13
Anonymous
Not applicable

Re: What does this mean exactly? Please help

It'd be plausible if there was no interest cap by law maxed at 10% to non-bank-owned debts.

Even then at 25% APR after 5 years it'd be $340 haha it'd need to be about 50% APR to get to $500.

I'll wait on it I just don't see why it's all so difficult.
Message 13 of 13
Advertiser Disclosure: The offers that appear on this site are from third party advertisers from whom FICO receives compensation.