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Debt dissappears from Credit Report

Date: Tue, 09/16/2008 - 12:38

Submitted by anonymous
on Tue, 09/16/2008 - 12:38

Posts: 202330 Credits: [Donate]

Total Replies: 1


What are the possible reasons that a debt could show up on a credit report 1 year ago and now it has disappeared on all 3 reports?


I think a creditor has to renew the item on the report every so often. I think many creditors post information at least once a month based on payment history and what not. For example, if you had a current credit card with a balance of $1500 on it then your report would reflect that exact balance. If you paid $500 of that balance then the CR would be updated to reflect the new balance of $1000. I don't know what the minimum time frame is but if they did not meet it then it would fall off the report I believe.

Another option is the debt was paid and they quit reporting it. Also the creditor could have sold a bad debt to a CA and the CA has not gotten around to reporting to the CRAs.


lrhall41

Submitted by DOLLARSandSINCE on Tue, 09/16/2008 - 13:34

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