Yes it can. You should agree to pay it only if there is an agreement to not report it to the credit reporting agencies.
Yes it can. I took a chance and called creditors and spoke to them in a sensible way. I paid the debt in full, they removed it from my credit report like it wasn't even there. My report is now cleaned up. Re-fi here I come.
If the old collection company is still showing the debt being owed, it can usually be taken care of by supplying to them evidence of the payoff of the debt with the other agency. Should that not work, order your credit report on line (from whichever bureau is reporting it) and then instigate an on-line dispute. You'll have to supply to them evidence the debt is paid and then they'll handle it from there. This procedure usually takes 30 - 45 days to clear up.
If they are valid debt default entries they cannot be removed from the report until the required seven years have expired.
Bad debts can only stay for 7.5 years from the original date of default. Nothing restarts this time period. Till you might want to check your credit report just to be sure. If they did report you now you can contact experian and have it removed
It is possible.
Yes it can. You should agree to pay it only if there is an agreement to not report it to the credit reporting agencies.
No the collection will not be removed from the credit report. They will show it paid in full.
Yes it can. I took a chance and called creditors and spoke to them in a sensible way. I paid the debt in full, they removed it from my credit report like it wasn't even there. My report is now cleaned up. Re-fi here I come.
The tricky thing about credit cards is that they never expire so no matter how old it is, they can call it in for collection now and put a lien on your home. If the debt is still active, then it can be on your credit report as well. It has to be settled in order for it to go the full 7 years and dissappear from your record.
If the old collection company is still showing the debt being owed, it can usually be taken care of by supplying to them evidence of the payoff of the debt with the other agency. Should that not work, order your credit report on line (from whichever bureau is reporting it) and then instigate an on-line dispute. You'll have to supply to them evidence the debt is paid and then they'll handle it from there. This procedure usually takes 30 - 45 days to clear up.
Yes it can be relisted under the same name or under the new collector's name on your credit report. It is best to make payments or pay it off if you don't wish for it to appear.
If they are valid debt default entries they cannot be removed from the report until the required seven years have expired.
They can ask you to do whatever they want...If you do it, then that's on you. They will keep the debt active on your credit report which resets the clock on the seven years and etc..., etc. etc, to infinity.
A repossession that is over seven years old is not supposed to be on your credit report. It is not unusual for a collection agency to illegaly "reage" a debt in order to try to pressure you to pay. From your post it does not appear that you know what is on your credit report. If you have been denied credit then you are entitled to receive one for free. Contact information for the three credit reporting agencies can be found at solidgoldhomebusiness.com If this item is actually on your credit report then you can dispute the information and demand verification. Dispute instructions will be included with the report.
There are several companies that assist you with removing bad credit reports that are too old on your report. Go to www.freescoreonline.com and see if there is a local company near you that can help out.
There is no statute of limitations associated with credit reports. However, any information that is more than 7 years old should be removed from the report.