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12 year old debt being reported as current?
I have an consumer account that I opened in 2001 at a small jewlery store now know for being rip-off artists and shortly after that lost my job and quit paying on it. After many bad financial decisions in my life I have FINALLY decided its time to make some changes, until I pulled my first ever credit report. I noticed that the account was not only still there but it was being reported as current / pays as agreed? How can they say this when I have not? I want to know if this is something I can do to remove but like stated earlier, I was fairly irresponsible and do not have proof I have not paid or when I opened, became delinquent etc, also it is reported twice but was never charged off or sold to collections. If anyone can point me in the right direction that would be excellent. Here is what the report says exactly:
Status: Pays as agrees High credit: 960 Installment date opened: 9/8/2001 date reported: 4/1/13 date last payment: 4/2008 (Dont remember this?) date of last activity 4/2008 scheduled payment amount: $64 date of first deliquincy: N/A (shows n/a) months reviewed: 13 and all the reporting squares have asterisks (I believe mean current)(Equifax) balance: $0
The second entry has the same exact info except the account number seems to be my ssn now and there is "fixed rate" in the comments section while the other said "account close at the request of customer", and the date reported on this one is 10/1/2011
Both are from the same company and I know I never opened a second so I don't know why they are showing twice. I figured this would have been gone by now. Has anyone ever see anything like this?? Again I have zero documents to support my efforts. I received the equifax report from freecreditreport.com by the way. Thanks for your help.
1 Answer
- ReenaLv 78 years agoFavorite Answer
The reason why this account is still on your credit report, even after 12 years, is because it is considered an account in good standing. This account does not harm your credit in any way.
What happened is that the jewelry company NEVER reported that you stopped making payments and the credit bureau is under the impression that you paid this account and leaves it on there as a positive account.
I have one from JC Penney that I closed 2 decades ago and it still shows because it was an account in good standing and I deserve the "good" review this account gives my credit file.
Don't worry about it.... this account helps your credit score.
P.S. There is no second account. It was just updated to paid in full and closed at your request. Go along with it... and leave this account alone.