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So the old debt accounts are still on the report right?

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goodnatured



Joined: 03 Nov 2007
goodnatured's page
Posts: 3931



490 Magic Points

 
Posted on Thu Nov 08, 2007 11:31 am  

Justin, anything you find on arbitration in Pennsylvania would be great, I have not been able to find much at all. I really appreciate your efforts in helping me here.
Justin

Justin

Joined: 17 Jul 2006
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28944 Magic Points

 
Posted on Fri Nov 09, 2007 9:25 am  

Yes I will try to gather info related to PA.
Guest







 
Posted on Fri Nov 09, 2007 11:27 am  

Remember paying on an old debt can start the 7 year clock over

Does paying off liens & collections improve my credit?
In the long run yes, but in the short term it doesn’t have much of an effect at all, unless the amounts have a balance listed in the “past due” section of the report. In that case I suggest to pay the balance in the past due column if it is less than two years old, but remember; whenever you make a payment on a collection or a charge off, the seven year clock starts all over again and the item will be reported for seven more years from the date of payment. If you never pay a collection then it will disappear seven years after the time you last made payment on the credit card that resulted in the collection.
goodnatured



Joined: 03 Nov 2007
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Posts: 3931



490 Magic Points

 
Posted on Sat Nov 10, 2007 1:50 am  

Guest, I paid these old debts completely off one by one, so the amount due is zero. So the SOL is not an issue.


Thank you Justin, appreciate your time and efforts on this.
Laura

Laura

Joined: 21 Jun 2007
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36215 Magic Points

 
Posted on Sat Nov 10, 2007 6:49 am  

So the old debt accounts are still on the report right? Do they show positive or have negative implications?
_________________
Regards,
Laura.
goodnatured



Joined: 03 Nov 2007
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Posts: 3931



490 Magic Points

 
Posted on Sat Nov 10, 2007 12:39 pm  

I haven't look yet Laura, I want to get some other things straightened out before I pull it? I posted a question on the other posting, guess I can ask it here to. How long does it take with being current does it take to reflect a difference in your score, I know it will reflect current right away at the end of that month, but when can I expect to see a change in my score?
Guest







 
Posted on Wed Nov 14, 2007 6:33 am  

Maybe Rome wasnt built in a day....but Phoenix sure seems like it!!!
Laura

Laura

Joined: 21 Jun 2007
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36215 Magic Points

 
Posted on Wed Nov 14, 2007 9:34 am  

Well guest debt is not Phoenix for sure. It cannot be a myth. Rome is reality and so is your debt. So building requires time. Smile
_________________
Regards,
Laura.
goodnatured



Joined: 03 Nov 2007
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Posts: 3931



490 Magic Points

 
Posted on Thu Nov 15, 2007 2:07 am  

Wow, not sure how to take that one guest, but as usual I will take it, I will take it as a good gesture, LOL.
Dadummy



Joined: 15 Nov 2007
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Posts: 547



174 Magic Points

 
Posted on Sun Nov 18, 2007 1:09 am  

Things will start looking up soon for you if you are making an honest attempt to clean up your credit. Paying off old debt will show a zero balance in the balance column on your credit report, some lenders may look favorably on this versus owing a balance and ignoring it completely. Try to stay current on your present bills that will make a bigger impact.
goodnatured



Joined: 03 Nov 2007
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Posts: 3931



490 Magic Points

 
Posted on Sun Nov 18, 2007 12:17 pm  

I hope paying these old debts off helps my credibility, I don't plan on borrowing any money for a long time, but would like a better rate If I decide too. I guess this can't hurt. I am trying to keep my current bills current.
_________________
Goodnatured,
http://cashinpocket.synthasite.com/
for all the ways I make $$ online
http://www.crazymonkeygold.com/members/register.php?ref=fedupinpa
carol

carol

Joined: 27 Jun 2006
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Posts: 1299
Location: Los Angeles, California


30060 Magic Points

 
Posted on Mon Nov 19, 2007 11:41 am  

Good taking a new loan will only do harm

* if you are applying for too many loans at the same time. The hard inquiries run your credit score berserk.

* if you are not keeping up with the payments
_________________
Keep in touch
Carol
Dadummy



Joined: 15 Nov 2007
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174 Magic Points

 
Posted on Tue Nov 20, 2007 2:44 am  

What carol says is true, any hard inquires on your credit report will lower the score that you have been working on to raise. This will also alert bill collectors that have ticklers on your file as to what activity you are up too, your address and such, as soon as you apply they will start calling. I have a sister that this happened to. She did not hear from collectors until she applied for a loan.
Dadummy



Joined: 15 Nov 2007
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Posts: 547



174 Magic Points

 
Posted on Tue Nov 20, 2007 2:45 am  

Guess they figured that she would borrow enough to pay them as well, you have less of a chance of them cutting you a break at this point also. Forgot to add this to the post, sorry.
goodnatured



Joined: 03 Nov 2007
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Posts: 3931



490 Magic Points

 
Posted on Tue Nov 20, 2007 11:09 pm  

I don't plan on taking out a loan anytime in the near future or the next couple of years. I just want my credit report to be better next time around so I can get a shot at a competitive rate.
_________________
Goodnatured,
http://cashinpocket.synthasite.com/
for all the ways I make $$ online
http://www.crazymonkeygold.com/members/register.php?ref=fedupinpa

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