Disputing an old collection account can trigger the collection agency to renew their collection efforts or sell the debt to a new debt collector.
Charged-off account does not mean the debt is no longer owed (unless you file for bankruptcy). Creditors still retain the right to collect the full amount of debt either through internal collections, lawsuit, sell or transfer to debt collector.
Tenant’s have rights and when a landlord sends you to a collection agency for move-out charges without notification you should exercise your rights.
Even though defaulted student loans can be pursued forever, negative credit reporting must be removed after 7 years with the exception of Perkins loans, which can remain until repaid.
Having a repossession in your credit files may not prevent you from getting a mortgage loan but it’s best to have other positive credit to offset the repo.
Collection agencies that sell a debt should delete their negative notation to avoid multiple debt collectors reporting simultaneously for the same debt.
If you have a Capital One collection account don’t be surprised if they update and report monthly to the credit bureaus which kills your credit scores.
QUESTION. I was considering disputing a few minor problems with the way some accounts are reported, but did my due diligence and read up on the subject first, hence, I am here. Back in late 2013 I ran into financial trouble and was unable to keep up with my CC payments. The late fees were…
Comcast collection agencies typically do not delete accounts based upon payment of a debt; but a paid collection looks better than an unpaid collection.
When rebuilding your credit, charge-offs may be a big part of your credit past. In tackling charge-offs there basically 3 actions: dispute, settle or ignore.