payoff
Date: Mon, 03/09/2009 - 17:25
Hi kendra11love, It will come off in 7 years. When you pay th
Hi kendra11love,
It will come off in 7 years. When you pay the debt, it doesn't erase it from your credit report, all the late payments will still be noted.
chrys
The debt would have come out of your credit report if you had co
The debt would have come out of your credit report if you had come to a pay for deletion agreement with the creditors before you paid off the debt in full. But since you have already paid off the debt, it will stay there in your credit report for seven years and six months from the date of your last delinquency towards the debt.
kendra-- from the sound of your post, it seems that you thi
kendra--
from the sound of your post, it seems that you think we are affiliated with a collection agency. We arent--this is a forum for consumers like you to discuss issues with debt collectors. If you have a question about a creditor on your credit report, you should contact that creditor--the contact info should be on the credit report itself.
One thing you can do is dispute the LVNV entry, by filing a dispute with that credit bureau and stating that the LVNV entry is a duplicate of the Allied one. While the original creditor is allowed to continue reporting, I think there may be some kind of limit as to how many third party CA's report the same debt at the same time. Even if there isnt, the LVNV report still must be accurate, so if they are currently reporting and continue to update showing that you owe them money, they are breaking the law. The FCRA requires them to report accurately, so if they didnt even own the debt anymore they are not allowed to continue to report that you owe them anything.
one more thing... People are telling you that it will stay on
one more thing...
People are telling you that it will stay on for 7.5 years. That is not neceessarily true. That is the maximum amount of time that a creditor can report the debt. That doesnt mean that they MUST report it for that long. Many times, people dispute old entries and since the debt was paid off, the creditor doesnt ever bother responding to the dispute, so by law the credit bureau must remove the entry from your report. In your case, I would dispute it in writing with the credit bureau--since the debt wasnt even owned by LVNV anymore they may simply let it fall off. But if they verify it as accurate, you have a case against them for FCRA violations.....and you are entitled to up to $1000 per FCRA violation....