Comment from Bike G
Time July 18, 2009 at 8:20 pm

Сredit repair workеd fine to fix my credit. They disputed and removed lots of bad items from my credit report. I used this service – freecreditreport.sinfree.net

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Time July 19, 2009 at 3:11 am

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Comment from bdancer2
Time July 19, 2009 at 3:17 am

Derogatory items age off your credit report 7-1/2 years from the date of first deficiency. This is per the FTC and nothing restarts that clock.
If the estimate date is 5 years, that means you defaulted 2 years ago. You can wait out the reporting period or you can contact the collection agency and work out a settlement. A 2 year old debt might still be within the Statute of Limitations (SOL), the timeframe to bring lawsuit. Check your state: http://www.bcsalliance.com/statute_of_li… Typically the SOL starts from the date of last activity or last payment.
You can probably settle a 2 year old debt for 50%. Lump sum gets the best deals. Payment plans must be short term. Get any settlement agreement in writing and keep it, along with your payment proof, forever. Do not give collectors direct access to your bank account.

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Time July 19, 2009 at 3:46 am

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Comment from Just_Me_
Time July 19, 2009 at 9:29 am

Ok I have learned some new things about this lately from this site they have a free ebook that can be downloaded http://www.vitaledgefinancial.com/JB8307 and also have been working on cleaning up my credit if the debt has been bought from another collections company the best thing to do is dispute it….. if they can prove it they have to take it off. And alot of times if it is old and has changed hands a few times the paper work did not follow you need to work on this now because alot of times they just sell it to another firm and the process continues I would check out that site and get the ebook atlease put they are good people and will talk to you about you debt and the best way to clean your report and build credit also

Comment from Judy
Time July 19, 2009 at 10:29 am

After 7 years you will be able to dispute them on your reports.
By putting “old and obsolete – passed SOL”
Keep in mind that if you have a job you must keep it.
Finding work is difficult with unpaid claims on your reports.
Car insurance will also be more expensive.
Don’t move, apartment finding will be harder.
And you must know, that buying a car or a home, will be near impossible, unless you have more than 20% down.
/

Comment from stan c
Time July 19, 2009 at 1:26 pm

It is 7 years. But even if it falls off your credit report, they can sell it to a collection agency and they start calling and send letters. The SOL does not start over again when it’s sold to a third party.