bad debt doesnot hurt my credit score after 24 months or 2 years

Thank you for answering my questions so promptly. I have another question, if I may. I heard after a bad depth is 2 years old or older it no longer affect the credit score. Is this true? And if so, how fast and how much can your score rise? In a message dated 3/3/2008 10:58:43 A.M. Central Daylight Time, majors@oskie.com writes:i dont knowwhat is your credit report fico score at all three bureaus?what does it need to be?many times a home or car loan will require one to have all past due outstanding debts paid in full.
On 3/3/08, ------------------------- wrote: Will 2 year old bad dept affect your fico score, especially when you have good credit that's been paid on time and has existed over two years? Thank youCharlotte In a message dated 3/2/2008 8:37:20 P.M. Central Standard Time, majors@oskie.com writes:the original creditor is the only place to negotiatecollectors cannot sue or threat to sueand they can not put sold collections on your report in MOST cases valdiate these debtsand call file with your state attorney general is they do not compy which they can'tmost collections were sold for pennies on the dollar to help the first creditor.it is illegal for them to threat to sue and to put it on your credit report
On 3/2/08,-------------------------------wrote: I am wanting to clean up my credit in order to purchase a house. I especially don't want to have to pay a high interest rate. I have several delinquent credit cards on my record but it's all over 2 years. I have plans to pay all bad dept off in another year. But I read from your web site after 2 years even if the dept is paid, it wouldn't raise the fico score very much. In spite of the bad credit reported, I do have 2 current credit accounts that are excellent which are on my recent file. My question is ... would I do better by leaving the 2 year old bad dept unpaid? I'm afraid if I paid the bad dept off, it wouldn't reflect on my credit report as paid. I don't trust any collection agency's promises unless it's in writing. And I have had collection agencies refuse to put any negotiation in writing. At least, I was smart enough not to take their word at face value. I didn't pay the agency. Also, can I dispute the amount I am being charged to only the credit bureaus and bypass the collection agency all together? There are stock piles of late fees and late charges that I feel I shouldn't have to pay. For example: In reality, I may owe only $600.00 but after the late charges from the creditor and fees from the collection agency, my dept increases to $1000.00. Is this even legal? Thank youCharlotte


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majors@oskie.com to Satinfairywings show details Mar 10 Reply
That is totally true about 2 yearsonly thing is if something shows past due that account will continue to hurt your score longer than 2 years.one must also keep 3 rated (open 12 months) lines of credit open to over lap the bad. a person score can rise 100 points in a matter of daysand drop the same there no way for me to give you a detail as i know alomst none of yourthings open and good now things open and bad nowthings that are bad and closed and 2 years is alomst hereyour credit score