Question about my credit report

posted 3 years ago in Money
Post # 4
1613 posts
Bumble bee
  • Wedding: September 2011

@LadyBlackheart:  I *think* since you’ve made payments to the account the 7 years has reset itself. But if you pay off the lawyer you can negotiate to have it taken off your credit report.

Post # 6
1768 posts
Buzzing bee
  • Wedding: June 2014

I’m pretty sure it’s once the case is closed (aka paid out). Can you make bigger payments? By my math you’ve only been paying about $60/month. Just $20 more a month ($5/week!) would mean that you’re only paying for 15 more months instead of 20. Or, sometimes theyll cut you a deal if you pay in full. Do you have tax return money you could use?

Post # 8
679 posts
Busy bee
  • Wedding: October 2014

Even if you pay off the account, it will still show up on your credit report and can up to 10 years but generally speaking, it will fall off after 7 years of being closed.

Post # 9
5697 posts
Bee Keeper
  • Wedding: August 2012

I’m pretty sure as PP’s said you have 7 years after it’s closed and paid (or written off). I”m sorry 😐

But I can tell you this about creditors, because I’ve had a LOT of things go to them, I made the same mistakes you did but like 10 fold. They pay like 10 cents on the dollar for those accounts, and thenthey make their money by charging you for your full balance, and sometimes interest on top of it. I once had 20.00 in bad checks to Starbucks become FOUR HUNDRED!?

So I’d call the lawyer up and offer him half of what you owe, in cash. Even if you can’t put any of your tax return in savings, you are better to pay that stupid thing and get it closed up, and THEN start putting that 50 bucks a month you’ve been paying him, into savings, than to continue to pay a lawyer a payment plan. The sooner things get closed the sooner your score can start improving.

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