Tracy27 Posted December 10, 2004 Report Share Posted December 10, 2004 Hi, Does it matter if I have accts. that state: "ACCOUNT CLOSED BY CONSUMER" or should I get them deleted from my record?Thanks Link to comment Share on other sites More sharing options...
FlaDave Posted December 10, 2004 Report Share Posted December 10, 2004 I have (4) of these that are good or I believe are goodtradelines. When I traded in my cars over the last few years thebank listed them as "Closed bu Consumer" So I don'tsee how they can be bad when they were paid on timefor 3 years each before and that shows. Link to comment Share on other sites More sharing options...
Recovering Attorney Posted December 10, 2004 Report Share Posted December 10, 2004 If there is good history behind it, keep them on. Good history stays for 10 years. But if there is a ding or two, you might try to get them deleted, since that ding appears for 7 years. I had a lot of store cards that a rarely used, picked up at the holidays when they offered you another X% off if you opened the account. Once I paid the card, I closed the account. I don't think it has hurt my score. Link to comment Share on other sites More sharing options...
miracle Posted December 10, 2004 Report Share Posted December 10, 2004 From what I can tell.. on my reports, it has no negative effect. If you have some negative things on the account, you may want to get it off of there, but if not.. let them be. Link to comment Share on other sites More sharing options...
Rich Posted December 10, 2004 Report Share Posted December 10, 2004 What if it says, "Credit line closed by grantor". And payment status says "Paid satisfactorily", or "Paid as agreed", does the fact that the account was closed by the creditor even though it was paid as agreed, have a negative impact? Link to comment Share on other sites More sharing options...
c m chase Posted December 10, 2004 Report Share Posted December 10, 2004 I don't think so. As long as it's a positive account, it shouldn't be hurting you. Some credit grantors close an account for non-use. I wouldn't think that should count against you. Link to comment Share on other sites More sharing options...
miracle Posted December 10, 2004 Report Share Posted December 10, 2004 I agree with Chase.. I think it only counts against you if there are other derogs on the TL. But if you have perfect payment history and anyone asks.. you can just tell them it was closed due to inactivity. No biggie. Link to comment Share on other sites More sharing options...
luckyduck Posted December 11, 2004 Report Share Posted December 11, 2004 DH had Amex account for about 8 years. Always on time. Was late once. They closed the account immediately. He paid right afterwards. It is reported paid as agreed closed by consumer. Never showed any lates. I got Amex deleted from EQ and his FAKO score jumped about 25 points. I'm not sure the exact reasoning behind it, but that was the only change from one day to the next, and it was a huge jump. May or may not apply to all TLs. It could have been something else that we weren't seeing, but that's what happened. Link to comment Share on other sites More sharing options...
Rich Posted December 11, 2004 Report Share Posted December 11, 2004 Geez! I'm an accountant and this crap is nearly as bad as the tax code! Such a simple thing really, not rocket science, or brain surgery, or even trying to figure out why Subway has gotten awfully stingy with the tomatos. But I guess each CRA has it own set of rules.You know life really shouldn't be this hard. Link to comment Share on other sites More sharing options...
DocDon Posted December 11, 2004 Report Share Posted December 11, 2004 We just went over this very topic 9 days ago....http://debt-consolidation-credit-repair-service.com/phpBB2/viewtopic.php?t=22881 Link to comment Share on other sites More sharing options...
Tracy27 Posted December 14, 2004 Author Report Share Posted December 14, 2004 Thanks All Link to comment Share on other sites More sharing options...
DocDon Posted December 14, 2004 Report Share Posted December 14, 2004 You're very welcome.Read over our previous in-depth discussion and post any concerns you have. Link to comment Share on other sites More sharing options...
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