dispute credit report, creditors start calling again!

What is the name of your state? Michigan

After separating with ex I couldn't keep up with credit alone. I stopped paying all my credit cards, cell phone and even my auto loan. My auto was repo'd and everyone was calling me non-stop. Eventually it stopped. The last time pymt was made on any was 1998. In Jan, 2002 I ran credit report and some were collection, some were charged off. I wanted to try to start clearing it all up, so I wrote the credit reporting agencies to inquire on each account owed. After doing so, I started getting the calls all over again! It has been 4 years since pymts were made, by writing and inquiring about these accts. have I made all of them start over again? Will these be on my credit report for another 7 years? Or will they only be there for 3 more? I want to take care of them, but some of them have been adding interest every month for the last 4 years and have more than doubled!

Thanks!

[Ladynred]

Oh boy.. you stirred up a hornet's nest !

Unfortunately, the Statute of Limitations on credit card accounts in MI is SIX years, so, even though they're in collections and charge-off status, they can still come after you to pay them, they can still sue you for the debts. You didn't start anything over again as the SOL hasn't run out, only by making a payment does the SOL clock restart.

If you want to pay these accounts, you're going to have to negotiate, but do it my mail, thereby getting anything and everything in WRITING. You can send them all a Cease and Desist letter requesting that they ONLY communicate with you via the mail, and to not contact you by phone any more. Make sure you send everything Certified, Return Receipt Requested, that gives you the necessary proof that they got your letters and a paper trail.

Entries on your credit report will stay there for 7 years. If the accounts are closed and/or inactive, they'll drop off. If they're active, even if closed, then I believe they can keep reporting that status to the 3 credit bureaus.