Trying to Clean Up Credit
Date: Thu, 11/03/2005 - 19:04
Thanks for any help you can give me... I want to clean up my credit report but now i feel like i have opened up a can of worms. Thanks
Hi Kittiemarie Do not hurt your 401k loan for paying this irr
Hi Kittiemarie
Do not hurt your 401k loan for paying this irrelevant debt. Your debt is way out of the SOL period as the last activity took place in the year 1995. Also, it is out of the 7 years reporting time period as per the FCRA laws.
These two points mean that any collection agency cannot force your to pay the said debt. Also, these debts are legally required to disappear if they are still shown in your credit file.
Do not tense yourself while dealing with this collection agency. Handle them very bravely. They have been doing many illegal things on the past accounts of the consumers. Ask them to show the debt validation of the said accounts. They are required to give you the details within 5 days of the initial communication. If they can't validate it, you are in charge of taking legal actions against them.
Did you check your latest credit report from the three bureaus? I assume these two accounts might not be shown in your file.