How to Remove Old Debt From My Credit Report
Date: Wed, 04/14/2010 - 18:07
I have a Bank of America credit card account that was open in 1/2/2002 and around 2004 was Charged-off / Sold as bad debt but it's still showing on my Credit Report file. It shows as Closed now, but I'm wondering how is this affecting my credit report and how can I remove it from my file? Or do I need to wait a few more years until it disappears from my credit report?
Also, after the account was charged off as debt and then sold to third party, the third party CA kept contacting me and increasing the amount I want in ridiculous ways. So finally last year I sent a letter to them asking for them to verify all the debt or else stop contacting me and also asked them to remove this from my credit file. It appears like that worked since I no longer see their record in my credit report. Which is why I'm wondering also how to remove the original Credit Card account from BoA that's still showing up on my report.
an entry can stay on your credit report for a maximum of 7.5 yea
an entry can stay on your credit report for a maximum of 7.5 years, unless we're talking about a judgment, those can stay on for 10 years I believe it is.
The reporting time begins when the account first becomes delinquent. What you would need to find out is the date of first delinquency. There is a provision within the FACTA/Fair Credit Reporting Act that requires creditors to provide the date of first delinquency when they report on a credit report....so look at your report, there may be a date of first delinquency listed already. If there isnt, you can dispute the entry with the credit bureau by sending them a letter explaining that there is required information that is missing from the entry.
If the date is there, and it is more than 7.5 years prior to today, simply send the credit bureau a letter disputing the entry and tell them that the applicable reporting time for this account has expired. They should take it off with no problems in that case.
thanks skydivr. I double-checked my current credit report onl
thanks skydivr.
I double-checked my current credit report online and it only shows the account open date, name of the account and that it was charged off as bad debt and sold to third party CA.
I will go ahead and send a letter to dispute the information and had a few questions about the letter:
- Do I send the letter to all three credit bureaus (equifax, experian, transunion)?
- What should I mention in the dispute letter, does anyone have a template or tips for the content of the letter?
- Do I mention in the letter that I need to know the date this was filed as a delinquent account? Is that a right I have?
Also, as i mentioned in my first post, interestingly no third party CA for this account shows up on my credit report anymore (but used to show up as of last year). Is this a good sign? Does that mean the CA has stopped pursuing this and removed it from my credit report?
I'm really hoping to get this off my credit report so I can start improving my score.
I don't think you will be able to get the original debt removed,
I don't think you will be able to get the original debt removed, it hasn't been 7 years. You said it was charged off around 2004, I would say you have at least 6 months to a year before it will come off. You may get lucky if you dispute and the OC just lets it go and doesn't verify it.
But I still would like to send in the letter because as I mentio
But I still would like to send in the letter because as I mentioned in my previous post, I have no idea what the account charge-off date is and my credit report does not show it. I know my account was charged-off to CAs in 2004, but I want to make sure that's the case. I want to make sure they are not using a later date.
So I still would like to know if anyone has any tips on what I should include on the letter for the credit bureaus, or does anyone know of a template?
Thanks a lot!