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Chemburn

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Need help with old unpaid loan issues.
I had a loan that I thought my ex was going to pay. Long story short, she didn't. I attempted to dispute the report and after, the original ding on my report remained, but the credit union added a second claim on my credit for the same loan for a much larger amount. First, after a loan has been closed and written off, can the loaning institution add any further charges? It has been 6 years with no added charges until I tried to dispute it. Second, at this point would paying the loan hurt my credit or help it? BTW, on one of my credit reports, they still have the original amt and the new amt reported seperately as 2 claims, and on the credit report, they only have 1 claim, but it is for the new, larger amt.

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I sounds to me like the credit union wrote off the loan and sold the bad debt to a collection agency to try to collect. The addition charges may be fees the collection agency is charging on top of what you already owed.

The credit report that is still showing the original amount outstanding should be disputed as a zero balance write off. Also, the debt items can only remain on your credit report for 7 years from the date of first dilenquency. Many times collection agencies will continue to try to collect on a debt that is older than 7 years but by law, they are not suppose to and they can only collect until the the 7 year period is up.

Since you stated it has been 6 years, if you do nothing on the debt, it should come off of your credit report within the next year. That includes both the original loan item and the 2nd (collectors) item.

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