Results 1 to 2 of 2
  1. #1
    Join Date
    Feb 2013
    Posts
    1

    Default Will Settling an Old Debt Put It Back on My Credit Report After It's Dropped Off

    My question involves collection proceedings in the State of:

    CA and AZ (Original debt in CA, now living in AZ)

    Hi. I've done some research and have come up with conflicting answers.

    I have an old debt with BofA from 2002 that was charged off and I never paid because I felt it was morally wrong (which is a totally different discussion). It fell off my credit report years ago and today I have a "B" credit rating with no delinquencies. I've resumed banking with BofA since. Well, now it's become a slight hassle preventing me from opening new accounts and I was going to settle it to avoid moving my accounts back to Chase. However, I've read that this could update the "activity" or "date" of the collection account which might place it back on my credit report. If this is the case, then it's not worth it to me.

    Please help. Thank you.

  2. #2
    Join Date
    Sep 2005
    Location
    Behind a Desk
    Posts
    98,846

    Default Re: Will Settling an Old Debt Put It Back on My Credit Report After It's Dropped Off

    Given the age of the debt, they should not re-age it if you pay it off. See this discussion of the FCRA.

    1. Sponsored Links
       

Similar Threads

  1. Credit Reports: Credit Reporting Agencies Showing My Ex-Wife's Debt on My Credit Report
    By Nick1364 in forum Personal Finance And Investment Law
    Replies: 2
    Last Post: 11-13-2012, 06:32 PM
  2. Credit Reports: Disputing Credit Report Entry for Charged Off Credit Card Debt
    By Bugs in forum Personal Finance And Investment Law
    Replies: 3
    Last Post: 04-06-2012, 05:47 AM
  3. Debt Collectors: Settling Credit Card Debt After Summons from Collection Agency
    By junoxii in forum Debts and Collections
    Replies: 3
    Last Post: 01-22-2010, 07:44 AM
  4. Debt Collectors: Settling Credit Card Debt
    By JulieAnne in forum Debts and Collections
    Replies: 5
    Last Post: 11-06-2008, 10:35 PM
  5. Debt Collectors: Settling Credit Card Debt - Release Form Needed
    By MSGB in forum Debts and Collections
    Replies: 1
    Last Post: 06-07-2007, 09:00 PM
 
 
Sponsored Links

Legal Help, Information and Resources