I live in PA and i heard the statute of limitations on credit reports is 4 years. Is this 4 years from the date is it was opened or 4 years from the date it was closed? An example is:

Verizon PEN
500 Technology Dr. Weldon Spring, MO 63304

Balance: $139
Date Updated: 10/08
High Balance $0
Past Due: $139
Pay Status: Charged off as bad debt
Account Type: Open Account
Responsibility: Individual Account
Date Opened: 09/04
Date Closed: 07/05
Loan Type: Utility Company
Remark: Account closed by credit grantor
Estimated Date this item will be removed: 01/12

then I also found this:

afni
POB 3427 BlooMINGTON, IL 61702. 800-827-6002
Balance $196
Date Updated: 10/2008
Original Creditor: 10 Verizon Inc
Past Due $196
Loan type: Factoring Company Account
Remark: Placed for collection
Date placed for collection 7/08
Estimated date that this item will be removed: 12/11
Pay status: collection account
Account type: open account
Responsibility: individual account

I'm pretty confused about why there are two debts with two different amounts from the same company. Can both of these be taken off? If so, is there a form letter available requesting this be removed from the credit report? I do plan on paying it but i do want it off my report. :?:

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I am having the same issue. Any suggestions would be helpful.

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hiya guys...

ok, the FCRA is the federal law that governs credit reporting. the law states that a consumer debt can be reported on your credit file for a maximum of 7.5 years from the date of first delinquency. When it first became past due, that is the date that the reporting starts. When an account is in good standing, they can report it as long as the account is open and for, i believe, 10 years after last activity.

If you have the same debt showing up multiple times on your report, it is because the debt has been charged off and sold to a collection agency. There is no law that forces either of those companies to remove their report--even though it was sold by Verizon, they can still leave it on up to 7.5 years from the date of original delinquency. however, even though there is no law forcing removal of duplicate accounts, I have in the past disputed duplicate debts on credit reports, and i have never seen the credit bureau leave both accounts on the report. Every time i did this, they would remove the one of the accounts. Keep this in mind too--sometimes a collection agency re-ages a debt to try to keep it on your report longer, and also to try to get around the statute of limitations on debt collection. this is illegal but it still happens every day. For this reason, if you are going to dispute a duplicate account, it would be a good idea to print out a copy of your report first, so that you will have a record of how the original creditor reported it. This is a cover-your-butt move and it can save you some headache down the road.

at the end of that 7.5 year period, the debt must be removed from your report. if it is still on there after that time passes, then you must dispute the debt with the credit bureau and inform them that the debt has passed the applicable reporting period as set by the FCRA and as such must be removed. the debt cannot legally be placed back on your credit report as a collection account by any creditor ever again, period. If someone does do that, they have done so illegally by changing information about the debt. This is why it is important to keep on top of your reports.

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i have some items on my credit report that i got when i was young and dumb. if i pay those items off completely will it be removed from from credit report immediately, and also will my credit score increase.

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What are KD's and how can you get them off your credit report

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Sandy--

There is no guarantee at all that any item will be removed from your credit report. however, you need to know the truth about the law, because collection agencies will not tell you the right information. for example, the federal law allows a maximum time that a debt can be reported to your credit report--BUT, there is no REQUIREMENT for them to keep it on there that long. A lot of CA's try to claim that the law wont let them remove a debt earlier than that and they are just lying to you when they say that.

The only way to ensure that a debt is removed from your file is to negotiate a "pay for delete" with the collection agency. You basically tell them you will pay the balance off, in exchange for them removing the entry from all three of your reports and not ever reporting it back on them again. now, a lot of CA's wont agree to that, but some will. Its just a matter of persuading them to play along.

This is the most important thing--you MUST get it IN WRITING before you send them a penny. Again, this is something that most CAs are not good at--putting their promises in writing. But you cannot pay them unless you get a letter from them stating that they will remove the entries from all of your reports and not report them back on there ever again. If you can get that in writing, then pay the debt off and clean up your credit all in one shot!

A paid collection showing up on your report is still a collection account, so the fact that it is paid wont help your score. But of course, getting it removed will help your score.

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I filed a complaint with the Better Business Bureaus for AFNI and they agreed that they would delete the item from my credit report. This process took a month. But prior to doing that I sent a certified letter requested debt validation and used that has my proof to the BBB that I had made an attempt to resolve the debt.

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thanks for answering my question before. i have another question u said "The only way to ensure that a debt is removed from your file is to negotiate a "pay for delete" with the collection agency. You basically tell them you will pay the balance off, in exchange for them removing the entry from all three of your reports and not ever reporting it back on them again." Like i have a cingular phone bill on my credit report, do i call cingular to get that stuff in writing and off my report or do i have to call Equifax.

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I think it's 7-1/2 years, not 4 years.

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I recently check my credit score and found a collection item I know nothing about...it says:

Estimated date that this item will be removed: 05/2009

does that mean it will be removed in March?

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May. 7 years +180 days from Date of First Default. Contact the reporting CRA's to acquire the DOFD as reported by the data frunisher to get an exact date.

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Dec. 26 '08 two charges of $9.95 and $24.95. Never received Reports nor can I get in touch by phone.

Annie M




Thank You

Annie..you have us confused with another company. This is DebtCC, we do not provide credit reports.

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IHAD A CAR LOAN THAT WAS SOLD TO A COLLECTION AGENCY IN 4/02.AS THE FIRST DELIGUINCY. THEY WERE REMOVED FROM MY CREDIT REPORT IN 4/09. THE ORIGINAL DEBTOR IS STILL LISTED AS A TRANSFERED ACCOUNT AND A CHARGE-OFF IN 9/02. WHEN WILL THIS STOP BEING REPORTED ON MY CREDIT REPORT.

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Dispute it as obsolete, at the worst, it should drop on its own in 09/09

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