What does this mean on my credit report?
February 5th, 2009
Alabastr asked:
I just looked at my credit report and there is a negative that says, “This account is scheduled to continue on record until Feb 2012.” So does this mean that whether I pay or not it will stay for another 4yrs? So if I don’t pay it it will go away in 2012?
So in 4 yrs I will have better credit? When that goes away will my score go up?
I just looked at my credit report and there is a negative that says, “This account is scheduled to continue on record until Feb 2012.” So does this mean that whether I pay or not it will stay for another 4yrs? So if I don’t pay it it will go away in 2012?
So in 4 yrs I will have better credit? When that goes away will my score go up?
That is correct….anytime u have an account in derogatory it will stay on your credit for up to 7 years…up to 10 for bankruptcies..
It will go away in 2012 if your credit doesn’t follow up and re- report. It will remain on your report for 7 years. If you pay it, it will show as being paid, just fax them a copy showing proof of payment and the credit bureau will change your report, this will help to boost and repair your credit.
If you do nothing aside from pay the bill it will remain on your credit for the next 4.5 years. You can of course write a nice letter in a year or so and they may take it off..
If you continue to not pay the bill it will go to collections and aside from your credit being destroyed, they’ll find some way to most likely get the money from you (unless you’ve filed for bankruptcy). Do you want a large man showing up at your door threatening to break limbs?
In response to Cindy above:
Paying the bill does not automatically take a late payment or neglected payment off of your credit report. And it’s already been reported if it’s showing up in her CR right now
Derogatory accounts continue to show weather you pay them or not for 7-years from the date of first delinquency.