Should I dispute my credit report or should I just wait until the seven years are up?
Question by RobertA: Should I dispute my credit report or should I just wait until the seven years are up?
I’ve been applying trying to establish credit recently and I have been denied every single credit application because I have “too many “delinquent accounts” or “bad credit.” So the other day I checked my credit report and I saw that I have a “closed” and “seriously past due date/ assigned to attorney, collection agency, or credit grantor’s internal collection department” for $ 69.
The thing is, it was opened 6/1/2002 and it doesn’t even make sense because I was 12 years-old back then. So my question is should I wait until the 7-year period (6/1/2009) or should I dispute it? I don’t want to have bad credit, especially when I there is an account that I didn’t even open that is blemishing my score . But I don’t know if just letting it disappear will be the same thing as disputing it.
If I should dispute it I would like to know how to do so.
Best answer:
Answer by protoham
Dispute it.
Know better? Leave your own answer in the comments!
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Well most people think that its only 7 years but the funny thing is that every time the credit report is pulled up it is possible for the company to refile or for the credit agencies tyo hold on you longer. so i would try to resolve it by trying to dispute it or talking to the company that reported you and see if they will work a bargin with you.
First, call the creditor (from someone elses phone). Try explaining that you couldn’t possibly owe it since you were 12. But whoever you talk to, make sure they have the power to have it removed and document their name, position and what is said. then, dispute it! they have to show proof that it is YOURS. if for some reason they prove it’s yours, then it still should fall off your report after 7 yrs. I’m surprised it’s not gone after 4… so I’m guessing disputing it will get it removed. What ever you do, DO NOT PAY IT!!!! if you pay it, it’s like admitting it IS yours and the statute of limitations (4 or 7 yrs) will start from the day you made the payment!!
Dispute it. Write a letter to the credit bureau explaining to them that you are not responsible for this account and that you were 12 at the time. They have to investigate and verify the account belongs to you.They have 30 days by law (Fair Credit Act) to verify that it is yours. If they do not or can not they HAVE to remove it from your account. If you are in a hurry to have it removed…skip this altogether..it’s not alot of money, so you might just want to go on to the next paragraph.
If by some chance it is legit, write a letter to the collection agency stating that you will pay $ 35-40 in full upon receiving a signed letter head from them agreeing to remove the account from your credit report.
Also take a look at http://www.lucidfunding.com Click Bill Smith, click Credit very helpful info an sample letters!! Good luck
How old are you? If you were 12 in June of 02, just 18? You may not have enough good credit, also. If there was more on your credit report, start writing those letters! Remember that every time your apply for a loan, an “inquiry” goes on your report and after those add up, they look bad. They make lenders think you are desperate and no one else will lend to you, why would they?? Get a hold on your credit NOW… it is your LIFE, believe me!
DO IT ALL IN WRITING AND CERTIFIED MAIL!!!!!!