i am so confused on credit reports??
Date: Mon, 01/21/2008 - 20:44
i pulled my credit report and i have questions,
first i have a gas and credit bill from 1995 still on my credit and then i have the company that bought the account on there also. so the debt is on there twice. What can I do?
first i have a gas and credit bill from 1995 still on my credit and then i have the company that bought the account on there also. so the debt is on there twice. What can I do?
The 7 year period starts when the account first becomes delinque
The 7 year period starts when the account first becomes delinquent, not when the account is first opened. Maybe you opened the account in 1995 - but if you became delinquent in 2005 -> then it would be reported until 2012.
The debt being listed twice may be valid. The original creditor can report the fact that the debt was sold (however, they should be reporting a -0- balance and date it was sold/closed); then you would have the new owner, whose open date & date of delinquency should match the OC.
You can always dispute those items in attempts to get them removed. There are some letters to that effect in our Do-It-Yourself Section
