In the process of buying a house- have been monitoring my credit for the last 6 months. This "HNB ind" just showed up on my report this month- says account was opened in 1991 and has an outstanding balance of $1500. Also last activity reported was 2007. First of all I was 11 in '91 so I don't think I was even eligible for credit then, second I have never recieved any communications from these people and lastly why did it just show up on my report? I have copies from oct-feb that doesn't show it on them. Equifax is the only one reporting it- what should I do?
Pick up the phone and call Equifax and tell them that you want to file a dispute and tell them that you were 11 years old at the time, the creditor will have to prove to equifax that it is indeed a valid debt or they will have to remove it.
Your personal details (name, email address and phone number) will be delivered to the company advertised on the Creditmagic after ve agreed to go for the counseling session by filling out the no-obligation form. However, it is your discretion to accept or reject their services.
Not all the creditors/debt collectors agree to trim down the outstanding balances, interests, and fees payable by the consumer.
Consumers working with the debt relief companies can still be sued by the creditors/collection agencies.
Debt relief services may have a diminishing effect on the creditworthiness of the consumer. The total outstanding balance may increase as the additional fees get accrued.
The overall amount saved by the consumer through the debt relief services is considered as taxable income by the IRS.