timbercreektech Posted February 6, 2003 Report Share Posted February 6, 2003 I ordered all three Credit Reports. I got the the Experian and Eauifaxreports in 10 days. I still have yet to get Trans Union. How long does it take? Link to comment Share on other sites More sharing options...
timbercreektech Posted February 6, 2003 Author Report Share Posted February 6, 2003 On Equifax Credit Reports they use abbreviations R1 and I1.R1 means "Revolving Paid as Agreed" and I1 meand "Installment Paid as Agreed". I have some items with this status but in the notation itsays 2 times 30 days late, 2 times 60 days late. This seems derogatory.If I have a "Revolving Paid as Agreed" how can I have the bad notation?The accounts are paid in full and closed. Can I get the notation amended or deleted? Should I try and have the whole thing deleted? Thanx... Link to comment Share on other sites More sharing options...
Swede Posted February 6, 2003 Report Share Posted February 6, 2003 R1 and I1 are great accounts, don't have them removed. You should instead try to send a goodwill letter to the OC and nicely ask them to remove the late pays. If you dispute this with the bureaus, there's a big chance that they'll delete the entire account. If the goodwill doesn't work, you could try www.planetfeedback.com and again ask them to remove the lates. Link to comment Share on other sites More sharing options...
timbercreektech Posted February 6, 2003 Author Report Share Posted February 6, 2003 Thanks Swede. I have two collection Accounts whose last activity was 03-97 and 11-96. One is past statue of limitations* (6 years) in Minnesota and one will fall off the board next month. Is the statue of limitations based on last activity date? If so, Equifax has last activity date on their report. So they should just delete them if asked to. Experian does not have last activity date. The dates they have are Date Opened/Reported Since and also in the Status Details it says that This account is scheduled to continue on record untill 11-2003 and other says 2-2004. This is well past the 6 years. Also is a collection agency collecting for medical bills that should have been paid by insurance a written contract? The literally have a bad item that went to collections for $6.Thanx... Link to comment Share on other sites More sharing options...
timbercreektech Posted February 6, 2003 Author Report Share Posted February 6, 2003 Doh.... Answering my own questions.The Statute of Limitations has nothing to do with the length of time something can stay on your credit report, they are two TOTALLY separate things. Again, there is absolutely NO relationship.The length of time a negative mark can stay on your credit report starts from the time you were late or the late payment went into collection, not from the last time you made a payment on the account. Some collection agencies update their reporting status on you to keep the account active with the bureaus to extend the time the account appears on your report. Very crafty and underhanded of them, because most often the account is updated and the period of time the account is active appears to be extended. Challenge this! If you do, bureaus will correctly removed 7 years from origination. Period. In other words, paying a collection will not keep it on your credit report for a longer period of time if you are diligent.So I need to get them removed somehow else. Link to comment Share on other sites More sharing options...
Swede Posted February 6, 2003 Report Share Posted February 6, 2003 $6???? OMG that's UNBELIEVABLE.... anyway, <blockquote>Originally posted by timbercreektech I have two collection Accounts whose last activity was 03-97 and 11-96. One is past statue of limitations* (6 years) in Minnesota and one will fall off the board next month. Is the statue of limitations based on last activity date? If so, Equifax has last activity date on their report. So they should just delete them if asked to. </blockquote>SOL and reporting period is different. SOL refers to the amount of time they can take legal action to collect the debt and SOL as you know, varies by state and type of contract. Reporting period for charges off's and collections are 7 years and doesn't reset by activity on the account after it's been charged off. EQ uses the section "last activity" as a timer however, they're not always correct as they will put in payments made on the account after charge offs as "activity". Since these accounts were placed before December 97, the clock starts ticking when the creditor actually charged off the accounts which can be anytime before but no later than 180 days of non-payment (FDIC has decided that open-ended accounts must be charged of at 180 days and closed ended at 120 days of non-payment). <blockquote>Originally posted by timbercreektechExperian does not have last activity date. The dates they have are Date Opened/Reported Since and also in the Status Details it says that This account is scheduled to continue on record untill 11-2003 and other says 2-2004. This is well past the 6 years. </blockquote>Yea EX is good like that and actually spell out the time it's due to drop off, if you look in the "account history" it will usually tell you the date it was charged off. It's not 6 years, it's 7 as SOL has nothing to do with credit reporting.<blockquote>Originally posted by timbercreektechAlso is a collection agency collecting for medical bills that should have been paid by insurance a written contract? The literally have a bad item that went to collections for $6.</blockquote>Check this thread for discussions on that:http://www.debt-consolidation-credit-repair-service.com/cgi-local/cutecast/cutecast.pl?forum=4&thread=2834 Link to comment Share on other sites More sharing options...
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