How do i fix my credit reports?
Posted by admin | Under Fix Credit Report Monday Mar 8, 2010I had few credit cards since 2000. I did not make any payment on thouse cards but my credit report shows charge offs. Is there anyway i can fix it or what can i do ?? please help me.
If these cards were opened in 2000 and no payments were made, then they would have been charged off 6 months after that date. Most negative info can only stay on your credit report for 7 years. You should dispute those charge offs as being outdated with the credit reporting agencies.
In 2000 there was not a law that allowed past debts of 7 years to stay on your credit report. You should speak with the credit agencies first to see if it can be removed. If it cannot be removed ask the company if they would remove the account from your credit if you are able to pay some of all of it off. Lastly debts that old may not weigh as heavily as new good debt.
There are ways to improve you credit in the short term by opening accounts with small limits and paying them off in full every month. However, if your credit habits have not improved you should not try this and continue to harass the credit card company until you get what you want.
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If the accounts show "charge off" since 2000 then you only have another year or two before they fall off your credit report.
I would just wait it out… way too late to pay them off since that would not change the ‘charge off" status at all.
You have another 2 years to wait. After 10 years nothing will show on your report and the charge off accounts will have "fallen off".
Leave them alone. If you contact the lender and offer to pay, the accounts become active again and Statute of Limitation will start over again which may add yet another 10 years until they are taken off your credit report.
For once… DO NOTHING and check your Credit Report again in 2 years.
References :
If these cards were opened in 2000 and no payments were made, then they would have been charged off 6 months after that date. Most negative info can only stay on your credit report for 7 years. You should dispute those charge offs as being outdated with the credit reporting agencies.
References :