Should I leave a good thing alone?

[Brenda Star]

I had a charge off in 2006, it was sold to 3 different CA. I DV'd and C&D them all, they sent me copies of statements. I had disputed this account with the CRA. Nothing else was done.

As of today, nothing has happened, no judgements, letters or notices. I believe this charge off is SOL. I pulled my CR, and there are no inquiries since 5/2009.

So, is something still going to happen? I understand JDB's can still hassle me. Can I get this trade line off my CR?

Thanks for all your help.

[willingtocope]

The TL will probably stay for 7 years after the "date of first delinquency" with the OC. Not much you can do about that. Are you sure its been sold? If so, the OC's TL shoulld say "sold to another lender" and their balance will be $0. Being past the SOL for your state has nothing to do with how long it stays on your reports.

[Brenda Star]

Thank you, willingtocope, for your reply.

Yes, according to my CR, the loan has been "purchased by another lender", first to Trauner, Cohen & Thomas, then to NCO, then lastly, sold to Cavalry Portfolio Service. The OC was BoA with a balance of $14,000. Last payment was 6/2006.

I would like to wipe this off my CR without waiting for it to "fall off" in 2013.

Is there anything I can do to get OC to remove it from my CR. I really dont care, after listening to Dave Ramsey stating "why care about your credit scores if you're not going to use credit". I would like to purchase a house, that is my concern about getting this off my CR.

Thanks for all the help in this forum in how to handle the problems with creditors and the valuable information that is given.

[willingtocope]

Nothing you can really do about the BofA TL. They have no incentive to remove it. Since its marked paid, it won't hurt your FICO Mortage score.

If either of the other two are reporting, that's going to hurt. If they're not reporting, as soon as you apply for a mortgage, the CRAs will notify the JDBs and they'll be after you pretty quick. You can try to work out a settlement with the current owner, but, I personally, would never pay a JDB a penny unless ordered to by a court.

You could try the "arbitration" ploy (read about that under IS THERE A LAWYER IN THE HOUSE) which might delay or even stop the JDB from trying to collect, but if a mortgage lender sees them on your reports, they're going to want the balance escrowed in case you lose.

[Brenda Star]

thanks again for your input.