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AliciaDelgado

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What should be paid off first, closed accounts or collection accounts
I have a few accounts in collections and then I have collection accounts that show as closed .

What should I take care of first.

My bankruptcy chapter 7 was filed on August 23, 2003, will it come off August 2013?


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Are these recent accounts?

If these are accounts showing on your credit report, are they recent (opened after the bankruptcy was filed)or were they accounts that were included in the bankruptcy?

If they are accounts that were included in the bankruptcy, they are going to show on your credit report for a while but you do not have to do anything aboout them since the bankruptcy covered those accounts.  They'll drop off soon.

If these are accounts showing on your credit reports (and I hope you have checked all 3 credit reports) and they are NOT YOURS, it's time to file disputes on them with the credit reporting agency that is listing them.  It's not unusual to find errors on credit reports, but it is our responsibility to make sure our credit reports are accurate, and we should do this every year.

If, however, these accounts were opened by you after the bankruptcy and you have not been making the regular payments like you should be doing, it's time to get on the ball and work on getting them paid off as quickly as possible.  You may have to cut back on such things as dinners out or entertainment, but getting a record of good payments which shows a responsible attitude towards money handling nis one thing to strive for.

And, your bankruptcy should be off the credit report by the end of September at the latest (giving the credit bureau time to get the data recorded).

Hope this helps you. 

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