old debts popping up

old debts popping up
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#1

With advice from here, raised my credit 100+ points in less then a year. Next month, going to be dropping my credit usage down to 30%. My issue is that I had several deliquents and I used the secured card to pay them off by paying the deliquent off and paying off the card. Went on a trip this month so left my credit balance the way it was and figured I’d pay it off at the end of the month. Besides, it is in the zone where it checks my score to see if I can be transferred to an unsecured card.

My issue is this. when I started paying off the delinquents, I had more pop up from 2013-2015 and are only now being reported on my credit. I know that there is a statute of limitations but does that start when the debt is accrued or when they first start reporting it? If those 3 new reports were not added, it’d probably raise my credit another 40+ points (based on the estimate before they were placed on my credit report.) Two of the reports are from 2013 but didn’t start getting reported until 2018 and 1 is from 2015 and didn’t pop up until this month.


#2

Congrats on all the progress! Debt collectors often do keep an eye on your credit reports. Indications that your circumstances have improved (like paying off old debts) can lead to new or renewed collection attempts, including “parking” new accounts on your credit reports.

The federal limit for reporting delinquent accounts starts when the first payment is missed and lasts for seven years plus 180 days. State statutes of limitations, which determine whether they’re supposed to be able to sue you, can vary – a lot:


#3

The rise was thanks to advice from here. I opened a secured card with $500, then I raised it to $1200. I also opened up 2 merchant accounts that reported to all 3 credit agencies. All three are a killer on interest, but it jumped my up on my credit score. I’m 565 on the rating here and 536~ on the Experian 8 score. It’s just that I’m worried about the new accounts that have popped up. I had a total of 4 delinquints, I paid 3 off, and then challenged the 4th one as I had been withdrawn medically from the school and the debt is for the remainder of the semester I didn’t attend due to being under VA care which is not supposed to be charged.

Now I have 3 more pop up and wondering if I should pay them off, if I should let them fall off, and if the dates are entered in when the debt originally occurred. Usually my first though would be to pay them off, but when you have a debt for $120 (easy to pay off) and it is listed as $800+ now, it makes me thing twice as I’ll be darned if I pay it, darned if I settle it, and darned if I don’t. Answering a probably future question, I don’t think it is the original creditors that placed it on my report as 1 of the companies ($220 original debt and want $985 and a $30 processing fee) was pushing hard for a $400 settlement.


#4

Those likely aren’t the original creditors, who have probably long since written off the account, taken the tax deduction and sold the debt to a collector, which may have sold it to another collector, which may have sold it to yet another. Each subsequent buyer pays less, which is why paying what they say you owe doesn’t make a lot of sense. This article may help: