MoreCreditIssues
Jan 24, 2008, 09:13 AM
My report reads the following:
"The following accounts contain information that some creditors may consider to be adverse. Adverse account information may generally be reported for 7 years from the date of the first delinquency, depending on your state of residence."
1. I've been reading that the 7 year limitation is based on the last action taken.. Is it from the first delinquency or the last action taken?
2. Is it based on my current state of residence or my previous state of residence in which the debt and collection took place, the previous is California and the current is North Carolina if that helps?
The debts I'm most concerned about read dates like:
"Estimated date that this item will be removed: 01/2012"
I do want to pay it and put the mistakes of the past behind me so I can move on. But, if paying it will start me back on the 7 years cycle I don't know what I'll do. I've already suffered for years, and know I still have another 4 to go, but to make it another 7 is a breaking point. I've worked so hard to get back to a point so that I can afford to work on this debt. I know it's best to pay it, but I want to know what more consequences I have to suffer for finally being able to pay it?
Any help will be appreciated... I'm really hoping what the report says is correct and that the date's will remain the same so I don't feel like I'm worse off after paying it off. Thanks
"The following accounts contain information that some creditors may consider to be adverse. Adverse account information may generally be reported for 7 years from the date of the first delinquency, depending on your state of residence."
1. I've been reading that the 7 year limitation is based on the last action taken.. Is it from the first delinquency or the last action taken?
2. Is it based on my current state of residence or my previous state of residence in which the debt and collection took place, the previous is California and the current is North Carolina if that helps?
The debts I'm most concerned about read dates like:
"Estimated date that this item will be removed: 01/2012"
I do want to pay it and put the mistakes of the past behind me so I can move on. But, if paying it will start me back on the 7 years cycle I don't know what I'll do. I've already suffered for years, and know I still have another 4 to go, but to make it another 7 is a breaking point. I've worked so hard to get back to a point so that I can afford to work on this debt. I know it's best to pay it, but I want to know what more consequences I have to suffer for finally being able to pay it?
Any help will be appreciated... I'm really hoping what the report says is correct and that the date's will remain the same so I don't feel like I'm worse off after paying it off. Thanks