WhatWasIThinkin said:
I am from Montana. I spoke to a representative at Arrow Financial and she informed me that if they, the (collection agency) choose not to remove a collection report, they do not have to. According to her if they choose to, it will remain on my credit report forever.
**Big fat lie!
Can anyone tell me if this is true or not. If not how do I have the report removed? Thank you for your help.
First of all, stay off the phone! It is nothing but trouble!
Second, here are the statute of limitations for Montana:
Oral agreement or open account*: 5 years
Written contract or promissory note: 8 years
*open accounts are revolving credit accounts, like credit cards.
What is the debt for? When did you default on it?
This tradeline can only stay on your credit report for 7.5 years, based on the date of last activity. If the debt is beyond that time period, send the credit bureaus a letter, certified mail return receipt, disputing the debt as obsolete.
If the debt has not reached that point yet, send a letter to the collection agency asking for proper validation as per the Fair Debt Collection Practices Act. State to only contact you by mail. Send this CMRR also. If the debt is out of the statute of limitations, you do not legally have to pay. As soon as you get the green card back, send a dispute to the credit bureaus, disputing the tradeline as "not mine." This puts the CA on a timeline of 30 days. If they cannot validate the debt, it must be removed from your credit reports. It is against the law to verify the tradeline with the credit bureaus without validating first. Make sure to send everything CMRR.
Go to
creditboards.com to find out more about your rights and how to deal with this effectively. Read the Newbie's Section over and over again, until you can't read anymore.
