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Posted: Sun Jun 04, 2006 11:45 am Subject: Will Status Change Help?

I have two accounts on my credit report that I paid off, both show a $0 balance, but both also show 60 days past due. Would it do me any good to dispute them (since they should show paid)? Or just leave them alone? Any help is greatly appreciated. One is a car loan, the other was a second mortgage. Both accounts were paid in full.

Posted: Sun Jun 04, 2006 12:52 pm Subject:

Clay,if it were me,I would dispute that 60 days over due thing. Even if it says it is paid,you still have a negative 60 days overdue. I would try to get that off the report too. You never know until you try! Smile

.Good Luck...Karen

Posted: Mon Jun 05, 2006 12:06 am Subject:

Balance and payment history are counted separately while assigning you a score. Since the accounts are showing as zero balance, it would look good in the debt to available credit part. But the late payments will pull your score down as it put negative marks in the payment history. Removal of the 60 days past due will definitely do well, JMO.

Posted: Mon Jun 05, 2006 5:17 am Subject:

Ok folks, next question I have three huge files of past credit reports ( at least once a year from each agency since 1998. How far back should I keep old credit reports? Any advice is always appreciated.

Posted: Mon Jun 05, 2006 7:00 am Subject:

Clay, I will ask you to keep those files in place. You never know when a need will arise. Your will have proof in case there is a need to dispute later. I hope these folders are not taking much of a space in your house. Smile

Posted: Mon Jun 05, 2006 7:38 am Subject:

Right now the three files are taking up about a third of a file drawer. For closed /paid accounts I gkeep the files as they were at close (plus paid in full letters If I can get them) for 10 years from the date I pay them. I will slowly begin scanning them onto a CD, but will continue to keep the paper copied for the tren year period. Just not sure what to do with the old CR's. How long should those be kept for?

Posted: Mon Jun 05, 2006 1:05 pm Subject:

Clay,if you have to room I would keep them at least 10 years. I wouldn't have said that before I foun this forum,but as yoou know,there are bottom feeder creditors who buy really old debtss. I had NCO call me about my sons' debt from when he was in N.C. and that was 7-8 years ago and the debt was charged off at least that long or a few years before.This was you will have the proof,somewhere that backs you up. Hope this helps!...Karen

Posted: Mon Jun 05, 2006 3:42 pm Subject:

Hi Clay,

Just a word of caution when disputing lates on a closed account. They have a nasty habit of deleting the whole acct.. It seems its punishment for you for thinking they were reporting something inaccurate.

Seeing as the accts. are paid I usually write to the OC asking sweetly to remove the lates. Four out of four for me worked this way.

Posted: Mon Jun 05, 2006 4:21 pm Subject:

I'm not necessarily disputing that they were late, but that they are correctly reflecting that they were PAIDI did fall be hind, and know they legally should show they were at some point 60 days past due,but the current status should reflect the accounts as PAID IN FULL.

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