Okay here is the deal. My husband has a collection that was is supposed to come off his credit report in september but the collections company is still asking for their money. If we dont pay them it will still come off anyway right? Or do they just leave it on his report??
Credit Item to be removed in September if I dont pay will it still stay on report?
Derogatory trade lines has to be removed after seven years. Collection companies can ask for %26quot;their%26quot; money indefinitely. There is, however, something called the Statute of Limitation. Collection Agencies have no legal way of collection old debts from you after the Statute of Limitation has past. It could be as little as three years in some states, and as many as six in others.
Credit Item to be removed in September if I dont pay will it still stay on report?
You need to write the collection agency a letter and write the credit bureaus a letter.
Credit Item to be removed in September if I dont pay will it still stay on report?
It stays on for seven years. After that, it does not matter how often they contact you, or who they sell the debt to, it does not get back on the Report.
They tried to pull this stuff on a truck my son gave up in a voluntary repo six months after he bought it. That was ten years ago. He still gets letters from collection agencies but it never shows up on his credit report.
If you do not intend to pay this bill just ignore them. Why did you not pay the bill?
Credit Item to be removed in September if I dont pay will it still stay on report?
It should still fall off in September if you DO NOT pay it or call them or write to them or contact them in any way. If you do, they can start the 7 years over again. So its better to not pay old collections even if it might not sound like the right thing to do. I think they do that so the honest people who really do want to pay their bills and do the right thing but can%26#039;t, end up having it start over and over therefore they have more time to get their money.
No comments:
Post a Comment