Credit Tips: How to Handle Old Debts on Credit Report

Posted On: February 1, 2006

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Posted: Fri Oct 29, 2004 1:59 pm
Post subject: How to Handle Old Debts on Credit Report
Dan
Date: 12/18/2000 1:45 pm CDT

I just recieved my credit reports. There are a few items that state they have been written off. They have been on my report for 5 years (only 2 years untill they drop off)
Some are small amounts that I could easily pay off, while others are large debts that would take some time to pay.

Q1. If I pay off an account that has already been on my report for 5 years, will the status on the credit report be updated to a paid off status and Remain on my report 7 years from the date of the last update?

Q1b. Or should I not pay the 5 year old debts and let them drop off in 2 more years?

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Posted: Fri Oct 29, 2004 1:59 pm
Post subject: How to Handle Old Debts on Credit Report
Board Monitor- NK
Date: 12/18/2000 8:37 pm CDT

Then answers: Yes and Yes.

If you pay it now, the clock will start all over again. You might as well let sleeping dogs lie.

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Posted: Fri Oct 29, 2004 1:59 pm
Post subject: How to Handle Old Debts on Credit Report

dan
Date: 12/25/2000 9:53 pm CDT

Thanks for the information.
another Question.

Some of the marks are set to come off in 2 to 3 years.
If I dispute the credit mark on my report with the credit brueau, will the time clock start over again for thoes ? If they are actually valid/

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Posted: Fri Oct 29, 2004 2:00 pm
Post subject: How to Handle Old Debts on Credit Report

Eugene
Date: 12/27/2000 1:54 am CDT

If I dispute the credit mark on my report with the credit brueau, will the time clock start over again for thoes ?