Delinquent credit accounts?

Question

please only answer if you know anything, I have awful credit, I checked my free report today and most of bad accounts says:

"" This account is scheduled to continue on record until November 2008""

that means they will disappear after november? is there any hope for me as I have 6 bad accounts since 2001 and I never paid since and never used credit since

Answer 1

Yes, it's true.  Credit info, both good and bad, drops off after 7 years.  So after November 2008, the bad items should go away.

If you've never used credit since, you'll have what is known as a "thin file," meaning there isn't really any credit history.  That's better the bad credit, but it's not good either.

Answer 2

Yes, those items will drop off your credit report.  But make sure to check your reports again at a later date.

Some collection agencies have been known to re date a deb to have it placed back on ones credit report.  Some will even post a payment has having been made which will re-start the reporting period.

This practice is illegal under the FCRA as follows:

RE-DATING OF THE DEBT IN VIOLATION OF

[CITE: 15USC1681s-2]  Ã‚§ 623. Responsibilities of furnishers of information to consumer reporting agencies

a) Duty of furnishers of information to provide accurate information (1) Prohibition (A) Reporting information with actual knowledge of errors A person shall not furnish any information relating to a consumer to any consumer reporting agency if the person knows or has reasonable cause to believe that the information is inaccurate. (B) Reporting information after notice and confirmation of errors A person shall not furnish information relating to a consumer to any consumer reporting agency if-- (i) the person has been notified by the consumer, at the address specified by the person for such notices, that specific information is inaccurate; and (ii) the information is, in fact, inaccurate.

Once they know it has been removed from your credit report, they will try and sell the debt to another bottom feeding collection agency who may try to re date the debt.

Hope this answers your question