4 Contributions 0 People Helped

Member Since: March 2013

About Me: I haven't been able to download my pic, I don't know why. Why is dealing with my own credit so difficult? And by the way Citibank credit debt has been settled, and I've received tax information for the settlement amount, yet Citi bank makes notes on my credit report monthly.

Where can I add other income such as my retirement accounts, IRA's etc? Will Thats where most of my income and assets are?

Activity (4 Total Contributions)

In my Inquiry Account, FA CREDCO is listed. Where did this inquiry come from/why?

Oct 28, 2016

Credco is showing up as a hard inquiry on my credit report.
I didn't authorize and do know what credco is.

What are they doing inquiries on my credit?

How to dispute an error on your credit report

Apr 28, 2015

4teamom, you are correct, anything written can definately change your ReAging date.  If you sign for a certified letter or fed-ex, if you send a letter or reply to one.

This information is available on line at most city government sites in addition to Google, however google doesn't have the correct timelines on certain states.

And the Re-Aging state is not carved in stone if a judge see's fit to alter it based on a particular situation.  There are several examples of that at the same site as well. 

How to dispute an error on your credit report

Apr 28, 2015

It's called "Re-Aging" Debt.  Here is the law regarding Re-Aging Debt, it is readily available according to you in the state you live in.. You can use a government source, or legal library, and believe it or not, Google.  However Google does have the limitations of some states incorrectly listed. 

Re-Aging can happen if you pay any amount on a credit card that is currently in default.  It's also Re-Aged if you acknolwge the debt with the debt collect or the original company that assisnged the credit.  Keep in mind, the statue of limitations, which by the way is a GUIDE and can be altered in many states by the Judge states, there is no exact start of end date, in most states it's 4 years, Deleware it's 3 years and California it's 6 years. 

However if a credit card company or debt collector can prove in court that you either attempted to make payments arrangments or set up a payment plan, the Judge can determine the date that the Re-Aging will apply at that last communication.  This is a VERY slippery slop.  In some states you are responsible to proving the aging of your debt. If you are not prepared or have evidence of bills or collection notices etc, then the Judge can either side with the credit card company and use their dates or allow the statue of limitations to apply, he can even extend them if he so chooses.  Normally if your debt is considered "within reason", the judge tends to side with the statue.  Now if you owe $45,000 I doubt the judge is going to let you walk our of court with no stipulations.  Exceptions in court cases are also listed in the law that pertains to your state.   

In additional, if you are mailed a certified letter regarding that credit card debt, the date you signed for receiving that certified letter can be used as the Re-Aging date. The same is true if they send you a Fex-Ex document that you have to sign for. That date can and is usually used as the Re-Aging Date.  

The most interesting part of the statue of limitations is that once you've legally met those limitations, you will still owe the debt.  The statue is designed to product the consumer of excess harrasment by creditors. It means that the government and/or legal agency can no longer support the creditor when threaten you with garnishment, harrasement, sue you or threaten you with jail etc.  It can still be listed monthly on your credit report until the debt is satisfied.  Best or Worst case senerio,  when a credit card company chooses that the debt can not be collected, or isn't worth any more trouble,  many creditors will use the statue of limitation to stop trying to collect, they post 1 final post on your credit report and then they move on to bigger fish.   You'll then get un update on your credit report stating that the particular creditor has now been removed from your credit report.  That's nice. 

How to dispute an error on your credit report

Mar 15, 2015

Statute of limitations being 4 years means what? I worked with a 3rd party to clear my debts on 4 credit cards. The 4 have been paid as the agreement between the credit card companies and the 3rd party. It's been more than 4 years and it's still showing up on my credit report. Citi bank is the worst, every month there is a hit on my credit report because it was paid in full as pee the agreement. Citi bank states that my account has been in collection and lists the original debt and the last payment being the amount agreed upon. They post this on my credit report every month, even though it's been paid in full according to the agreement. I've also received a tax statement, since you now have to pay tax on the difference between what you owed and what your debt was settled for. I thought after that they would stop posting it every month on my credit report continuing to affect my scores and limits my availability with other cards I have. WHAT TO DO??