Eiffel0925

ACCOUNTS SOON TO BE REMOVED

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I have the following accounts with date of removal : Applied Bank 4/20/14, Chase 4/20/14 and HSBC 12/12/13. I'm trying to figure the best way to have these accounts removed before the seven years are up. I'm trying to buy a house soon but I don't want pay these accounts because they are about to come off. I would appreciate for any suggestions.

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Just because they fall off your CRs, doesn't mean the debts go away.  You might get sued before that happens.  if the OCs still own them, your best bet may be to try to settle them.  if you go that route, be careful.  Get everything in writing BEFORE you send money.

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If you are in SC the SOL should have expired a long time ago. (3 Years)  

 

Are they listed as 0 balance and/or account sold/transferred?  This would be very likely with debt this old. 

 

If so I would just dispute them one at a time. They might not even bother to respond. 

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Someone correct me if I am wrong - but the fact these accounts are so old, are they really hurting his score that much?  If not, maybe it would be better to let sleeping dogs lie.  It is true you can still be sued for these debts even if they fall off your credit report, but why contact them and start the whole SOL up again?

 

Are these the only "bad" items on your credit report?

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@lionhunter If it were me I would do just that and wait for them to fall off. It just sounds like the OP needs to get them off in order to qualify for a mortgage. 

 

I would not contact the OCs, but the CBs for the disputes. Even if the OP contacted the OCs is would not reset the SOL unless they made a payment. Not to mention these accounts may have been sold years ago, so the balance should be zero. Its really just a shot in the dark at this point.

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I'm fighting to get 3 off my husbands report that is 4 years old SOL is 3. CB will not take them off. I have disputed so much already! Even the fact that are past the SOL. But still on there.

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The best thing to do is always dispute with the credit bureaus first.  

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@champcheermom  As ArtVadelay kind of alluded to, it doesn't really matter how old they are or even if they are beyond the SOL for your state, if a mortgage company sees them on your reports, they will be reluctant to give you a mortgage.  The mortgage companies don't want anything that may wind up as a lien on the property.

 

If you wait untill they fall off...you might be okay...unless one of them (or a JDB they've sold it to) slips in a suit against you before then.  If someone does sue, and you go to court and have the suit dissmissed because of the SOL, the debt still doesn't go away.  You still may have trouble getting a mortgage.

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