Credit Advice

Have a question? Have advice to share? The combined knowledge and experience of everyone in the Credit Karma community can help you. Enter your question or help others below to get started!

Question

Posted in Credit Report
Profile Image

Question By
jamaican69

15 Contributions
40 People Helped
what you guys think
i have this old death for your now from a credit call tribute credit card they been out of business for year now i think they sold out the account all these years but on my report its saying the bal is 1700 but they not showing the credit limit which was 300 but yet my bal is 1700 what you guys think the best way to go about

Your Credit Scores Should Be Free. And Now They Are.

View your scores and reports anytime.

SIGN UP NOW
All Responses

Result 1-1 of 1Results per page: 5 | 10 | 25Page 1 of 1   Previous | Next
Top Contributor
5038 Contributions
1131 People Helped
Most Helpful Response

Helpful to 1 out of 1 people

When they went out of business they most likely sold the account to another lender or debt collector. The age of it depends on what you want to do with it. Remember that charged off credit cards or any accounts associated with them (such as a collection account for it) will fall off your credit reports 7 years from the date that the original account went delinquent. ( 7 years from the date of first delinquency). If it is close to falling off, then you may want to just let it fall off. If it will remain on your reports for some time to come, then you may want to contact the party listing it on your reports and ask for a "pay for delete" agreement. If it is only the original company listings on your reports and you know that they went out of business, then you may want to dispute any incorrect information you find on the account directly with the credit bureaus and hope that no one will respond to the dispute which would lead to its deletion. Be aware though, that you are only supposed to dispute inaccurate information and sometimes disputing can result in a drop in score when the account updates due to the dispute.

Result 1-1 of 1Results per page: 5 | 10 | 25Page 1 of 1   Previous | Next

Your Credit Scores Should Be Free. And Now They Are.

View your scores and reports anytime.

SIGN UP NOW

Reply to this Question

Write your response:
Enter Your Comments

The Credit Advice pages of the Site may contain messages submitted by users over whom Credit Karma has no control. Credit Karma cannot guarantee the accuracy, integrity or quality of any such messages. Some users may post messages that are misleading, untrue or offensive. You must bear all risk associated with your use of the Credit Advice pages and should not rely on messages in making (or refraining from making) any specific financial or other decisions.