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 Posted: Thu Aug 02, 2007 5:55 pm Subject: Old collection debts |
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Currently, I have some old collection accounts that I want to clear up to raise my fica score. I've been told it well do little to pay them, and I should focus on my current accounts and debt ratio. [/b]
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marqdasharq
Joined: 02 Aug 2007
Posts: 1
Debtcc Points: 40
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| Posted: Fri Aug 03, 2007 7:18 am Subject: re: old collection debts |
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That's the same advice that my mortgage loan guy told me recently. He's helping me to become credit-worthy enough to purchase my 1st home in the next year.
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BethMinOH
Joined: 25 Jul 2007
Posts: 54
Debtcc Points: 1629
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| Posted: Fri Aug 03, 2007 9:24 am Subject: |
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Welcome to the Community  That is true, howevewr, if there are old debt showing up on your credi agency reports, you may want to take a look. Find out if there are any errors, and dispute them. When you say "old" debts, how old are they and when was the last payment? If they are over 7 years, they may be ready to fall off your credit report. You can find this out when you check out the 3 credit reporting agencies..Keep us posted on your progress!..KAren
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