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joytotheworld19

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Can I remove prior owners of credit
I have 8 bad issues on my credit report. The four owners sold the bad credit to new companies. Is it fair to show this as 8 bad issues instead of 4 since I only owe debt to 4 companies. I am getting ready to try and negotiate payment arrangements with the 4 new companies but will my credit report always reflect 8 instead of 4? If so how will I be able to remove the prior owners of the credit that was owed.

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The credit accounts were originally issued by the original four companies who granted you credit.  After a period of time, during which the payments were supposed to be made but weren't made on time, the original companies tired of keeping "bad debts" on their books and sold them to other companies who now want to collect. 

The only way the original creditors will be removed is if at least 7 years have passed since the date of last activity (usually the last time you made a payment to them).  Until that time, they will be reported on your credit reports, usually with the footnote "closed/transferred, etcZ" at the footnote of the entry in the report.

Please read the articles you will find on this site so you can learn more about how to improve your credit.  That is what this site is for.

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