Tag Archives: aged debt on credit reports

Debt Collectors Break Silence

Debt Collectors Break Silence There have been several books and articles recently in which debt collectors come clean about what goes on behind the scenes. Finally debt collectors break silence. I suppose a late blooming conscience is better than none at all.  (Couldn’t resist a snarky remark).  Debt collectors claim to collect over 8 billion

FAQ: Can Debt Collectors Pursue After the Statute of Limitations?

FAQ: Can Debt Collectors Pursue After the Statute of Limitations? Debt collectors can try to collect in most states after the statute of limitations has expired on the debt provided they don’t threaten litigation.  The statute of limitation’s expiration does not prevent the creditor from reporting the debt to the credit bureaus! Legal Statute of

Closing unused credit cards lowers FICO: Correcting the Wall Street Journal

Closing unused credit cards lowers FICO: Correcting the Wall Street Journal I was once shocked to read in The Wall Street Journal’s column of July 10, 2011 a statement that was clearly wrong regarding unused credit cards.  I wrote an e-mail to columnist Tom Lauricella regarding his column entitled: “Mortgage Rates are Great if You

7 year deletion on most debts is really 7 years+180 days!

7 Year Deletion on Most Debts is Really 7 Years + 180 days Some things are repeated so many times that we assume they must be true.  People that care at all about their credit score know that most debts must be deleted after 7 years.  Or they think they know that 7 year deletion

FAQ: Explain “Date of First Delinquency”

Date of First Delinquency One of the most common questions I am asked is Why should I be concerned about the Date of First Delinquency?  The date of first delinquency is critical to measuring the life cycle of the negative entry on the credit report.  The date on which you miss your first payment is