Removing Debt from Credit Report

I am having the same issue. Any suggestions would be helpful.

hiya guys...

ok, the FCRA is the federal law that governs credit reporting. the law states that a consumer debt can be reported on your credit file for a maximum of 7.5 years from the date of first delinquency. When it first became past due, that is the date that the reporting starts. When an account is in good standing, they can report it as long as the account is open and for, i believe, 10 years after last activity.

If you have the same debt showing up multiple times on your report, it is because the debt has been charged off and sold to a collection agency. There is no law that forces either of those companies to remove their report--even though it was sold by Verizon, they can still leave it on up to 7.5 years from the date of original delinquency. however, even though there is no law forcing removal of duplicate accounts, I have in the past disputed duplicate debts on credit reports, and i have never seen the credit bureau leave both accounts on the report. Every time i did this, they would remove the one of the accounts. Keep this in mind too--sometimes a collection agency re-ages a debt to try to keep it on your report longer, and also to try to get around the statute of limitations on debt collection. this is illegal but it still happens every day. For this reason, if you are going to dispute a duplicate account, it would be a good idea to print out a copy of your report first, so that you will have a record of how the original creditor reported it. This is a cover-your-butt move and it can save you some headache down the road.

at the end of that 7.5 year period, the debt must be removed from your report. if it is still on there after that time passes, then you must dispute the debt with the credit bureau and inform them that the debt has passed the applicable reporting period as set by the FCRA and as such must be removed. the debt cannot legally be placed back on your credit report as a collection account by any creditor ever again, period. If someone does do that, they have done so illegally by changing information about the debt. This is why it is important to keep on top of your reports.

i have some items on my credit report that i got when i was young and dumb. if i pay those items off completely will it be removed from from credit report immediately, and also will my credit score increase.

What are KD's and how can you get them off your credit report

Sandy--

There is no guarantee at all that any item will be removed from your credit report. however, you need to know the truth about the law, because collection agencies will not tell you the right information. for example, the federal law allows a maximum time that a debt can be reported to your credit report--BUT, there is no REQUIREMENT for them to keep it on there that long. A lot of CA's try to claim that the law wont let them remove a debt earlier than that and they are just lying to you when they say that.

The only way to ensure that a debt is removed from your file is to negotiate a "pay for delete" with the collection agency. You basically tell them you will pay the balance off, in exchange for them removing the entry from all three of your reports and not ever reporting it back on them again. now, a lot of CA's wont agree to that, but some will. Its just a matter of persuading them to play along.

This is the most important thing--you MUST get it IN WRITING before you send them a penny. Again, this is something that most CAs are not good at--putting their promises in writing. But you cannot pay them unless you get a letter from them stating that they will remove the entries from all of your reports and not report them back on there ever again. If you can get that in writing, then pay the debt off and clean up your credit all in one shot!

A paid collection showing up on your report is still a collection account, so the fact that it is paid wont help your score. But of course, getting it removed will help your score.

I filed a complaint with the Better Business Bureaus for AFNI and they agreed that they would delete the item from my credit report. This process took a month. But prior to doing that I sent a certified letter requested debt validation and used that has my proof to the BBB that I had made an attempt to resolve the debt.

thanks for answering my question before. i have another question u said "The only way to ensure that a debt is removed from your file is to negotiate a "pay for delete" with the collection agency. You basically tell them you will pay the balance off, in exchange for them removing the entry from all three of your reports and not ever reporting it back on them again." Like i have a cingular phone bill on my credit report, do i call cingular to get that stuff in writing and off my report or do i have to call Equifax.

I think it's 7-1/2 years, not 4 years.

I recently check my credit score and found a collection item I know nothing about...it says:

Estimated date that this item will be removed: 05/2009

does that mean it will be removed in March?

May. 7 years +180 days from Date of First Default. Contact the reporting CRA's to acquire the DOFD as reported by the data frunisher to get an exact date.

Dec. 26 '08 two charges of $9.95 and $24.95. Never received Reports nor can I get in touch by phone.

Annie M




Thank You

Annie..you have us confused with another company. This is DebtCC, we do not provide credit reports.

IHAD A CAR LOAN THAT WAS SOLD TO A COLLECTION AGENCY IN 4/02.AS THE FIRST DELIGUINCY. THEY WERE REMOVED FROM MY CREDIT REPORT IN 4/09. THE ORIGINAL DEBTOR IS STILL LISTED AS A TRANSFERED ACCOUNT AND A CHARGE-OFF IN 9/02. WHEN WILL THIS STOP BEING REPORTED ON MY CREDIT REPORT.

Dispute it as obsolete, at the worst, it should drop on its own in 09/09

As per the original thread question by acidremix999,
Everyone needs to remember that the statute of limitations and the Estimated date that an item will be removed from your credit report are two totally different things.
The statute of limitations varys from state to state and by what type of debt it is.
The Estimated date an item will be removed from your credit report should be 7 years from the time it became delinquent or from the time it went to collections give or take 180 days.
The Statute of limitations is the time limit on how long you can be sued for the debt. Once this has expired you don't have to worry about getting a summons, and if you do you can dispute it. Keep in mind that collection agencies and can legally and will still try to collect the debt after the statute of limitations has expired, and often times they do still collect money from people who don't know their rights. If you want to know the statute of limitations in your State just google it or check your States Attorney General website.
But remember it has nothing to do with getting it off your credit report. Only waiting 7+ years will do that. After 7.5 years from the last late date or the time it went to collections it is still there I would write a dispute letter, remember all though they aren't suppose to start the Estimated time once another payment has been made sometimes they do still. Disclaimer-this is just my opinion and should not constitute legal advice.

Im trying to get a U. S. D. A. loan,in which a claim from Pinnacle keeps saying my husband has a debt of 4500.00 in 5-0f 2008 but as of 2- of 2010 he owes 2720.00. The problem is its never been paid on and dont know to whom its owed.

The number for this address is 877-214-9134. I was having the same problem. I never had phone service in my name at any time, but it appeared on my credit report that that I owed money from 9/2010 to 3/2011 in the amount of $439.

I was informed by a representative from that number that the account was reported by name association, not by social security number. That sucks because it lowers our credit scores like that. She gave me her fax number which is 888-672-2876, and asked me to fax my identification and ss# to them, and they will have the information removed.

I have asked them to send me a letter stating that they will have it removed from my credit report. When they send the letter, I will give them the validation they request. Until then, I have contacted verizon fraud division to investigate. I hope this helps.:)

To clarify some of the misinformation being presented in this thread....

There is no limitation on how long information may be reported to your credit file. Accurate information can be reported forever. The time periods for credit report exclusion set forth in FCRA 605(a) do NOT place limitations on creditors or debt collectors, those limitations are solely on the CRAs, and relate to when they must "block" adverse information from further inclusion in any credit report they normally issue after those dates. Thje "reporting periods" referred to in section 605(a) refer to the reporting of information by a CRA in one's CR, and not on reporting of information to a CRA.

Nothing is deleted from a consumer's credit file after those dates. So requests for deletion of information from one's credit file based on expiration of a CR exclusion period are not appropriate. There is no requirement that the party who reported negative information must delete that information after expiration of the credit report exclusion dates. Continued appearance of adverse information in a consumer's credit file after expiration of its statutory exclusion date is not the fault of the reporter of the information, and is not their obligation to correct. Continued inclusion of those items of information in a consumer's credit report after those dates is the responsibililty of the CRA, and are addressed by complaint to the CRA for THEIR violation of FCRA 605(a).

The CR exlusion dates set forth under the various provisions of section 605(a) are not even absolute, further making the point that they dont relate to deletion of information. Under the limited circumstances set forth in section 605(b), for example, they can still be included in your CR after the normal exclusion dates of section 605(a), albiet under very limited circumstances. The information is essentially "blocked" from access, but is not deleted.

As for expiration of the CR exclusion date, many dates have been referred to, some of which are inaccurate. Your DOFD is ONLY relevevant to the date of exclusion of charge-offs and collections, which is 7 years plus 180 days from the DOFD on the OC account. FCRA 605(a)(4) and 605(c). Your DOFD has absolutely no relevance to the date of exclusion of other delinquencies, such as monthly delinquencies on an OC account. Those each are excluded separately after 7 years from their individual date of occurance. The date of exclusion of a collection is controlled ONLY by the DOFD on the OC account, and is not based on any dates of activity reported by a debt collector.

The answer is oldest date of last activity which the account fell behind and was never brought current or date of last activity whichever is more recent.

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[QUOTE]2. Pay utility bills on time- This will help you to improve your score. A good score that can get you a loan is something above 550. If your score is above 650 then you???re in excellent financial health. You can bargain with your lender on the interest rate. A score below 550 will need improvement and this can help to open the credit world to you.
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I don't agree with this at all. It sounds good, but not accurate, in my opinion.

I've monitored my credit reports in great detail for several years, and as far back as 20 years ago (though less frequently then), and I have NEVER seen any utility company report on me to a credit agency. And I've moved around a lot, so there's been a lot of different utilities companies in my history. Now I wouldn't suggest not paying them on time, and maybe that would spur some negative reporting, I'm not sure (I've always paid them on time that I know of). But simply just paying them on time does NOT affect your credit score because they aren't reporting to the credit agencies about you. And if they were reporting you'd see it on the credit report, because CRA's are required to show you what is being reported about you.

And secondly, there are a number of different credit scores, but in terms of FICO which is what most people are refering to, a score of 650 is NOT excellent financial health. In fact it's well below average. It certainly doesn't put you in a position to bargain with a creditor on the interest rate. But you should be able to get credit with this score, at an above average interest rate.

shill for a ripoff elsewhere.the links were deleted because if you want traffic to the site featuring the idiot garage band.go to another site.btw your info is wrong.it's 7.5 yrs from the first deliquency.so the truth is the only site that gives one free credit report per year is www.annualcreditreport.com that's it.

You should check your credit reports and find out the reasons behind your low score. Though 650 score is not so bad, but it can prevent you from taking out loan at good rates. Even if there has been any negative items in your reports, you can add positive items. Doing so, your score can get increased to some extent.