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Will starting the credit repair process start collection procedures?


docniss
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So I had 4 CO's about 2 years ago. Out of the 4, 3 of the creditors disappeared right away for the most part at least after I dv'd them (1 filed a lawsuit in a county 5 hours away from where I live, work and in fact I have never even traveled through that county) I only new of this suit when I received a letter from the court that the case was dismissed at the request of the plaintiff. The second one filed a case with the NAF. That too was dismissed at the request of the plaintiff and again, I never knew of the filing until I received the letter of dismissal. One of the companies hounded, and threatened me for months but then after pushing for the verification for months on end, they stopped making contact. The 4th never made any contact and seemed to have just run off (oh yeah this one is Crap1). All of these are reporting on my CR as a CO.

I am just wondering if I start to work on attempting to clear these off my credit report, will that open the can of worms and get the creditors to reconsider collections?

Obviously my credit stinks right now. My state has a 10 year SOL. I have no immediate need to make any large purchases, but I would like to start to correct my report in case an emergency arises and I have to get a new car or something like that.

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I agree it is a bit confusing. As I read it, written contracts are 10 years and un- written contracts are 6. I was under the idea of this board that a cc is considered a written contract, but my contention is that they do not have any documents with my signature on them to prove a written contract. Anyway, 6 or 10 years, I still have a ways to go.

I am just afraid something such as a car accident or some other issue might arises and I will have to go out and buy another car and end up getting not being able to get credit. I know I cannot get it now (I also have foreclosures due to investment properties on my report). Ha, I know foreclosure and investment seems a bit silly.

Any one else have an opinion as to weather IN is 6 or 10 years?

http://www.in.gov/legislative/ic/code/title34/ar11/ch2.html

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The answer also depends on how much money is owed to these 4 co's.

Would you be able to settle them if they came after you? Do some more homework on the cases that were dismissed, with or without prejudice?

If the cases were dismissed without prejudice they can sue again.

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The answer also depends on how much money is owed to these 4 co's.

Would you be able to settle them if they came after you? Do some more homework on the cases that were dismissed, with or without prejudice?

If the cases were dismissed without prejudice they can sue again.

That is my concern. They were dismissed w/o prejudice so I have been waiting to see if they surfaced again. There is no way I can pay the debts, they were mostly from getting over extended on our business ventures, but of course in our name.

Here is the thing: I have to determine if I am willing to fight these things in court. I have my assets set up and are protected so the worse that can happen is a judgment on my credit report. They will not be able to access anything else, name not on any banking accounts, everything is under an "umbrella." The question is do I want to deal with the courts now...a question for me.

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