GazqueGuy Posted April 3, 2007 Report Share Posted April 3, 2007 Please help. I am completely new at credit repair. I just pulled my EQ report, and found this:Account Number - Not on record Account Type - Open Account Credit Limit (High Credit) - $8,259 Minimum Monthly Payment (Terms) - $0 Date Opened - Not on Record Date of Last Activity - December, 2000 Description - Collection accountLast Report on March, 2007Balance - $19,144 Current status - Past DueI owed ~$8,300 on this account in 2000, got in financial trouble, and stopped paying. The debt was with Citibank, but now it is with NCO. I opened the account in FL, but now live in IN.Firstly, can they do this with the balance?!?! Secondly, is it worth it to try DV, since it will fall off my record at the end of this year? Thirdly, if DV is worthwhile, is it better to wait until the SOL expires? Thanks in advance for any help. Link to comment Share on other sites More sharing options...
divemedic Posted April 3, 2007 Report Share Posted April 3, 2007 It may fall off even earlier. When did you pay it last, and what kind of account was it? Link to comment Share on other sites More sharing options...
thomassl Posted April 3, 2007 Report Share Posted April 3, 2007 I owed ~$8,300 on this account in 2000, got in financial trouble, and stopped paying. The debt was with Citibank, but now it is with NCO. I opened the account in FL, but now live in IN.Firstly, can they do this with the balance?!?! Secondly, is it worth it to try DV, since it will fall off my record at the end of this year? Thirdly, if DV is worthwhile, is it better to wait until the SOL expires? Thanks in advance for any help.The statue of limitations for Indiana is 6 yrs. Indiana is fortunately one of those states that payments made after the fact do not constitute a resetting of the SOL...only a written promise to pay is acceptable. If interest was part of the original contract, yes it can be added. If they are not bothering you at this point, I would leave it alone! You don't want to awaken them to this account as they still have time to come after you. Link to comment Share on other sites More sharing options...
GazqueGuy Posted April 3, 2007 Author Report Share Posted April 3, 2007 Thanks for the advice so far. This was a credit card account. Frankly, I don't remember the last payment I made. I would guess it was late 2000, but probably before December, and I haven't interacted with them at all (including payments after deliquency).Also, do these things fall off automatically after 7 years, or should I count on sending a round of nasty letters to the CRAs? Thanks again for the guidance! Link to comment Share on other sites More sharing options...
justaguy Posted April 3, 2007 Report Share Posted April 3, 2007 The CRAs are pretty good at dropping things at the right time. Link to comment Share on other sites More sharing options...
MadinKS Posted April 4, 2007 Report Share Posted April 4, 2007 I would monitor it closely and if it's not off when it's supposed to be, dispute it as "too old to report". I've never had to do that on mine but that doesn't mean it doesn't happen. Good luck. Link to comment Share on other sites More sharing options...
newbie7069 Posted April 4, 2007 Report Share Posted April 4, 2007 I would monitor it closely and if it's not off when it's supposed to be, dispute it as "too old to report". I've never had to do that on mine but that doesn't mean it doesn't happen. Good luck.When I first found this site about a yr ago, I pulled my reports. I had 4 listings on all 3 reports that were from one account which had gone into default in 1994 with a last payment sometime in 1995/1996. All had been reaged including the OC. It can happen and does~~~as well as $400 which had balloned into over $9000. If I hadn't found this site they would probably still be there But luckily for me, they came off with the first dispute where I simply stated that they had been reaged and were time-barred from reporting. Link to comment Share on other sites More sharing options...
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