Wednesday, May 26, 2010

In the past I neglected to pay my credit cards. So I was sent to a collection agency.?

Since then I have paid off my debts. I now have good credit, but when i applied for a car loan I was denied. The bank told me it would stay on my credit report for seven years. Is there anyway I can get around this?



In the past I neglected to pay my credit cards. So I was sent to a collection agency.?

well you can always try to dispute the collection accounts. If that does not work then the collection accounts will remain on your credit report for 7 years. that suks huh



In the past I neglected to pay my credit cards. So I was sent to a collection agency.?

Doubtful, most debts even if theyre paid off, stay on your report for seven yrs. My fiancee has a $24,000 debt on her report and that was from back in 2004.



In the past I neglected to pay my credit cards. So I was sent to a collection agency.?

The bank wasn't lying...those slow payments will stay on your credit for seven years. you can dispute the reporting with your credit card company, and they may work with you, but this is unlikely.



In the past I neglected to pay my credit cards. So I was sent to a collection agency.?

There is no way around it, like you said and everybody else said it wll stay in your credit report for seven years, sometimes it will stay there longer than that depending what type of loan you're seeking. So now you know, be punctual on your payments, because it will affect you and your credit. In the future you would want your own house and they (lenders) will dig up and find out everything that happened in your financials. Been there, done that!

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