I need to clean my credit up

Make sure that the collection agencies reporting in your file have a legitimate purpose. Inaccurate collections hurt the credit severely. Get in touch with each of them and verify your account information. Request them to validate the debt so that you can move from that point.

Keep in mind that most charge off accounts go past the SOL period based on the date of last payment. Check the state laws and verify if you are within the legal timeframe to pay those accounts. However, expiry of the SOL does not erase the debt. It will still be reported in your credit file till the expiry of the seven years reporting period. If you are past the SOL period and far from the reporting time, paid accounts will boost your scores slightly.

Since the accounts in collections have already tarnished your credit file for the seven years, paying them off will also show slight improvement in your credit profile.

Read the FCRA link for sound information on improving your credit worthiness.

When you say "ping", do you mean they have reported to the credit bureau, checked you credit(regular inquiries or a hard hit), or have they reviewed your report (soft hit)? :?

hmmm, only slight improvement. Not good. ok, I will look up my sol. thanks Gretchin. I guess time will heal all.

they only viewed, not reported. Do I need to check the sol of the state I aquired the debt or the state I live in now?

It shows the name address and purpose of the inquiry or viewing. "collection purposes" and the date they viewed it. which I know sucks for my report to have that on there.

This is going to sound strange but under what section of your credit report are they? I ask because if they are in the regular/displayed/shared section they can be used to deny you credit but if they aren't then they won't hurt your credit but your insurance premiums may go up. :roll:

you are correct, everybody can see them. But in hopes to better my credit, I just got an unsecured credit card.
And, I am currently pricing new insurance too. so, I am not sure it hurt me in any great detail

It shouldn't. It raised ours by $20 a month.

yeah, not so bad. Was happy about the credit card. If I only use it about once a month and pay it off each month, how much will that help me. I just checked my report again and I have 6 accounts in good standing

bad news is I have to wait till 2010 for some yucky stuff to drop off :(

Linnie, I've disputed paid accounts that are less than that and they've been removed...Sometimes collectors don't want to bother verifying info when they've got their money...

weird that these collectors that looked into my report are not listed as a creditor on my report. And, I looked them up and one is not a valid address and had no phone number. Hmmmm, maybe I will get something in the mail. They have to have a vlid reason to peer into your report. One was just two weeks ago. And, they hit it twice. One week and just a few days later. Whats up with that?

whats sol and i have a 1 bad thing on my credit report i guess i went to annualcredit thingy to look at it and i'm in the process of contacting the people and getting it straitened out.

It's a time frame set by your state (statute of limitations) that you can be taken to court or have a judgement against. I think I am right. I did alot of research on this today. I have 2 outstanding negative open accounts on my credit report that have one more year to go and then, they can not take me to court. I just need to inform the collecting agent that it is not within the sol any longer. It does not stop any collections but they can not do any legal activity to you. Anyone out there, correct me please, if I am wrong

Linnie, you are right with your explanation. :)

identity_crisis04(I wonder why you feel this way), check the date of last activity of your account. Know the SOL period in your state and if you have not paid anything within the timeframe, the debt is out of the SOL period. You can use this statute to escape any legal actions. Remember, if you make a payment or any kind of commitment, the company will hold it against you. If the debt is out of the SOL period, make sure whether you want to pay it or not. Then deal with the company accordingly.

If you have one negative item, GOOD FOR YOU FOR WORKING IT OUT. If you contact them for payment arrangements, ask them if they would consider taking the blemish off your credit report since it is your only one. It does not hurt to ask. And, while you are at it, if this debt continued to grow in interest while it sat on your credit report, ask if they will wave any of it. Again, does not hurt to ask.

I forgot to add. Depending on how old this negative remark is, most creditors will be willing to work a deal with you to get their money. If it has already escalted to a collection agency, they mayl not be able to work with you like the original creditor would regarding the credit report but they may be able to help you with any additional interest that has occurred. Make sure you check your state sol (statute of limitations) laws too. This should also tell you the max percent of interest that is allowed to be added onto this debt while it sat out there unpaid.