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My Experien report shows that one of my account was sent to collections. However my Equifax report shows that it was sent to another collection agency. Am I correct in thinking that I first need to send a verification letter to BOTH collection agencies? What is the SOL in Illinois for these types of accounts? My FICO score is very low. 600 with Experian, 610 with TransUnion and 630 with Equifax. I would like raise it and establish a better credit history.
establish a good credit score
Hi Pattison,
The Statute of Limitations in Illinois for credit card debts is 5 years.
As for the same debt under 2 collection agencies, you should send them debt validation letters through certified mail, requesting a return receipt.
To improve credit score, you need to pay off your dues (if any). The best way to maintain your score is to make on-time payments. However, if there are any delinquencies, you should talk to your creditors and collection agencies, and start making the payments.
Thanks,
Aaron