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rm1999555

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Have an old store card active but not active?
Ok i'll give some history here. A few years back I feel into depression and dropped payment on all of my accounts resulting in collections. Now me and my wife are working on building our credit back up with secure cards. Today I checked my account and noticed that I have an old Victoria's secret credit card that is showing open and active with Zero balance. This is an 8 year account but when I called Victory's Secret about it they said it's been closed due to inactivity. So to my question... First I have many collections that are going on 4 years old now (Should I try to settle them? or leave them?) And second should I report the missed account or leave it for the age?

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first question... Try to work with the creditors.  You want to try to do a pay for delete.  That is you pay off all that you owe and they delete the bad tradeline.  Do this with snail mail because you want a written record.  It might take a few letters but it could work for you.  Also dont contact them untill you can pay them off in full.  If it does not work, work out a settlement.  the damage is alread done so you just want to show paid.

second quetion.  I would leave it alone.  If they are reporting it open then that is helping you.  Avg age of accounts is 15% of your score so that is a good thing.

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