credit card

[squid.tuna]

What is the name of your state (only U.S. law)? how do I make the credit companies take off an old credit card debt that has expired on the ( SOL ) I live in Hawaii and I understand the ( SOL ) is 6 years. It still shows up on my credit reports?Do I write them all and inform them or what is the correct procedure???MahaloWhat is the name of your state (only U.S. law)?

[Antigone*of*Greece]

Originally Posted by squid.tuna

What is the name of your state (only U.S. law)? how do I make the credit companies take off an old credit card debt that has expired on the ( SOL ) I live in Hawaii and I understand the ( SOL ) is 6 years. It still shows up on my credit reports?Do I write them all and inform them or what is the correct procedure???MahaloWhat is the name of your state (only U.S. law)?

They don't have to remove the line from your credit just because you say the SOL has run.

[squid.tuna]

you remark that they dont have to remove just because I say limits have expired, but they have, so my problem is HOW do I get them to remove from my credit report?This would help me alot.Mahalo

[TimStudiesLaw]

Originally Posted by squid.tuna

you remark that they dont have to remove just because I say limits have expired, but they have, so my problem is HOW do I get them to remove from my credit report?This would help me alot.Mahalo

You misunderstood. The SOL may have expired, but the credit reporting agencies don't have to remove the entry from your file. SOL or not, the debt is still valid and you owe it.

[squid.tuna]

You say they dont have to take the account off of my report, I understand now, but is there a way to ask them to or is it always going to be there

[Antigone*of*Greece]

Originally Posted by squid.tuna

You say they dont have to take the account off of my report, I understand now, but is there a way to ask them to or is it always going to be there

Squid,

The bad credit will remain on your credit report for at least 7 years. After that they will just fall off the reports.

Mahalo.

[TimStudiesLaw]

The purpose of a credit reporting agency is to provide potential creditors with data about your pay habits. Deleting an account that is derogatory wouldn't provide a clear picture to anyone you may try to borrow from, would it?

You can ask, but don't be surprised if they tell you no. Eventually it will "fall off" your report. Or maybe you could pay it.

[debtcollector`]

Originally Posted by Wirelessany1

Squid,

The bad credit will remain on your credit report for at least 7 years. After that they will just fall off the reports.

Mahalo.

The item will show for seven years plus 180 days for most cases, 10 years for some and depending on the purpose of the credit check, all items may report forever (security clearances, some insurance policies, and such).

DC

[squid.tuna]

mahalo to all that answered my questions, it helps alot.

[sjohnson2]

I'm just learning that there is a lot to a credit report. I just ordered mine after making an application for a lower interest rate on a credit card. A friend was receiving a much lower rate on the same credit card & I couldn't understand 'why'. Seems it's not good to be too conservative with credit. The object seems to be to use it regularly, in different amounts & from several lenders & then pay it off efficiently. I'm glad I learned this as I have a 5 year plan & without this knowledge, I may not have succeeded with my plan.
Sam ....