I have many old accounts ( credit card, bally's, and 1 bank account) Oldest to is 2003 to 2006. can I get these removed or do I still have to make settlements to boost my score?
Can you tell me what kind of accounts these are? Are these charge-offs, collections, or delinquent accounts? Charge-off accounts will drop off from your credit report after 7 years. However, to remove any negative son your accounts, you need to pay off the debt. Along with the settlement, request the creditor or collection agency to agree to a "Pay for delete" (PFD) agreement. With PFD all the negatives on that account will get removed.
When the Statute of Limitations expires, the account doesn't get removed. Rather the creditor will no longer be able to sue you for the debt. However, SOL varies according to state and type of account.
accounts removed from credit report
Hi Maraie,
Can you tell me what kind of accounts these are? Are these charge-offs, collections, or delinquent accounts? Charge-off accounts will drop off from your credit report after 7 years. However, to remove any negative son your accounts, you need to pay off the debt. Along with the settlement, request the creditor or collection agency to agree to a "Pay for delete" (PFD) agreement. With PFD all the negatives on that account will get removed.
When the Statute of Limitations expires, the account doesn't get removed. Rather the creditor will no longer be able to sue you for the debt. However, SOL varies according to state and type of account.
Thanks,
Aaron
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