I have a debt which I would like to remove from my credit report. First off before I found this site I had called and tried to negotiate with them and verbally agreed to a payment plan. Then I found this site and haven't done anything. Can they hold me to this? Second not sure if the SOL is up. I'm in Oregon so I know it is 6 years. But 6 years from when? They bought my 2nd mortgage from another company May 2007 and I never made a payment to them(long story). Going to try and get a debt validation letter from them. Any thoughts or suggestions welcome. Below is part of the info from my credit report. Thanks!
Account Type:
Mortgage
Payment Responsibility:
Individual
Date Opened:
05/2007
Balance Date:
04/2013
Balance Amount:
$62,534
Monthly Payment:
$0 $0
High/Limit:
$62,534
Account Status:
Collection
Past Due Amount:
$62,534 $0 $62,534
Comments:
REAL ESTATE MORTGAGE CHARGED OFF ACCOUNT TERMS OF LOAN UNSPECIFIED ACCOUNT CHARGED TO PROFIT AND LOSS LAST REPORTED DELINQUENCIES: 04/2013=M CHARGE OFF LAST PAID:
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You shouldn’t make this agreement verbally, you should do it in written form. They may not be stick on their words since you haven’t any written proof. The SOL period is calculated from the date of your first default. Moreover you can’t remove any negative items from your credit report before 7 years. It will remain there for 7 years from the date of your first default.