Q:
While I was deployed I was unable to pay a credit card because of Soldiers passing away and all communication were turned off until the Soldiers family were contacted. I’ve tried to correct this matter with the business and I was told I would not be able to have them erase the negligence due to a law. The account is old and has been paid in full.
The credit bureaus will not fix the negligence until the business does.
Is there any way I can have my credit fix from this problem? You can contact me via email or phone.
Jesse
A:
Hi Jesse,
this sounds like a tough situation.The collection still falls under the 7 year rule. The rule is the collection will be on your credit report for 7 years form collection date. Its is great that you paid the collection, because usually that will cause your credit score to increase. Contrary to popualr belief its better to pay off a collection .vs do nothing.You will have to wait until that 7 year expiration date arrives. Once it does make sure the collection gets removed from all credit bureaus.
Here are collection expiration dates.
Derogatory expirations guidelines:
• Chapter 7 – 10yrs
• Chapter 13 – 7 yrs
• Tax Lien – Until paid off
• Child support – Until paid off
• Collections – 7yrs
• Chare Offs – 7 yrs
• Late payments – 7yrs
• Inquires – 24 months
• Foreclosure – 7 yrs
• Repossession – 7 yrs
• Judgments – 7yrs
*Expirations date starts ticking from the original collection date.
Mike Clover
CreditScoreQuick.com
