I have capital one accounts totalling about $10,000
Date: Mon, 12/05/2005 - 19:00
Please give me some ideas... I tryed to settle by the way.. lady was rude.. :)
thanks again!
cisbmet1
cisbmet1 You said that these accounts are appearing in your c
cisbmet1
You said that these accounts are appearing in your credit report since 6 year. As per the Fair Credit Reporting Act, any negative information is permissible to stay in the file for 7 years. After this period, it is automatically removed from your file.
Moreover, I am assuming that your debt must be past the SOL period. Under such circumstances, a slight activity in the payment or a written agreement will renew the SOL period once again and the account will become active.
On these circumstances, I will wait for another 1 year to let these accounts automatically remove from my file.
If you want to make payments, you can always do that. But you need to consider the fact that if there is any default in making the payments later, the collection activities will once again be at the peak and you might even have to face legal actions. But at the present situation, since the debt is out of the SOL period, you are free from such hassles.
