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Should Charged Off and SOL accounts be closed?


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Merchants Credit Guide (Zombie Debt guys) called me last week out of the blue on some 1997 credit card balances that were charged off and SOL (I am in California). As suggested on this forum, I immediately ordered my free credit reports (first time I have ever seen a credit report) from all 3 Credit Bureaus.

In my Trans Union Report the charged off cards were still listed (even though the info does not seem negative).

Example:

MBNA

Bal: (blank)

Date Updated: 02/1997

High Balance: $7094

Credit Limit: $7200

Pay Status: Paid or Paying as Agreed

Account Type: Revolving Account

Responsibility Individual Account

Date opened 03/1994

My question, can I and should I ask TU to remove these accounts since they apparently are closed since they were charged off 1997/98. I was wondering if the very appearance of these accounts on my TU report is bad for me. They all show a last date updated somewhere in 97/98 and their appearance might be a hint to creditors that these accounts were charged offs. After all who would keep a bunch of credit cards without using them for almost 10 years.

I applied for a secured card a couple months ago and that card also appears and it has the payment history on it.

Finally under the section Account Review Inquiries (Not Promotional Inquiries) I do see that Merchants Credit Guide was listed there. Do they have a right to get my credit report without my? This must be where they got my telephone number and address info.

Thanks

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Dispute directly to the CRAs. Those tradelines are expired and should have fallen off your reports no later than August 2004.

It appears they changed the status from charged off to paid/paying as agreed to try and keep it on the report longer. For all intents and purposes this entry reads like an active current account.

Try to find an earlier report (you should always save them indefinately) from your records and compare. If it was previously a charge off and now is not reported as such, you've got them by the short-and-curleys.

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Guest mikey

if i am reading this right, i believe positive reporting even on closed accts can stay on your report for 10 years. eg...a car loan paid in full and closed will stay there for 10 yrs.

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if i am reading this right, i believe positive reporting even on closed accts can stay on your report for 10 years. eg...a car loan paid in full and closed will stay there for 10 yrs.

I have 4 such credit cards listed and I am sure that it stands up like a sore thumb to someone looking at the CR.

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