Cleaning up my credit report?

I have 3 charge offs on my credit report, the debt just under $1500 total and over 5 years old and from what I gather the statue of limitation has expired on them (is that the right wording?) but I heard from a collection agency about twice a year ago after I got a credit card.

How would I go about to remove these mistakes from my credit report? Do I try to contact these collection agencies and make an offer to pay a % or do I dispute them with the credit bureaus? I have zero paperwork from the creditors so I have no idea if what the collection agencies claim I owe is even correct. Also I found out that one creditor went bankrupt and sold all their debt to a collection agency. Years ago I just stopped recieving statements from them. I%26#039;m not really sure what to do. I would like to buy a new car but want to raise my credit score somewhat before I do.

Also if someone could recommend a site where they explain how to dispute step-by-step for dummies like me I would be greatful!!

Cleaning up my credit report?yes loans

You didn%26#039;t mention what type of debts these are.

I%26#039;m guessing credit cards?

If they are credit cards, the time that starts the reporting is when you became 30 days late and never brought the account current leading to the charge off. NOT from the last payment, not from the last activity, not from the date it was reported, etc., etc., etc. !!!

The reporting period runs for 7 years - not 7 years plus 180 days. It cannot be re-aged to run for longer then the 7 year period.

The collecting SOL depends on your state. It can either start from the first time you became 30 days late and never brought the account current leading to the charge off OR it can be from your last payment to the original creditor.

You can click on my profile and click on the link I have listed to learn the correct collecting SOL for your state. Then scroll down to the bottom of that page and click on the home page, scroll almost all of the way down and click on your state. You will find the statutes for your state to back up the collecting SOL and if your state%26#039;s SOL starts on the first 30 day late, etc. or if it starts from your last payment.

You might also click on the last link I have listed in my profile.

It%26#039;s to a free do-it-yourself credit repair site - never pay a website for information you can get for free.

That site has a massive amount of fantastic info on it. You can learn how to repair your own credit, use the letter templates posted and you can also ask any questions you may have in the forums.

Cleaning up my credit report?

loan

Go to the reporting agencies website and you can dispute them there. If it has been five years they can only stay on your report for another 2 years. I wouldn%26#039;t trust the collection people to be honest on what you owe. i would not pay them and just wait it out. But do contest it on your credit reports. If they don%26#039;t remove them right away it at least shows that it is in dispute.|||www.fixmyuglycredit.com.. It%26#039;s really easy to do pull all you r reports and file a dispute with all 3 CRA on all neg trade lines.Then when wait for the replys ,Then send a Valaditon of debt will all negitive trade lines that remain send all letters cettified mail return receipt requested.|||I work for a major finance company so here goes......

Bad credit %26quot;falls off%26quot; your credit report in 7 years. The statute of limitations only applies to judgements against you and it%26#039;s state specific average is 5 years. 10 years is for bankruptcies to fall off your credit report.....lots of confusion on these. The seven years begins on the first date the debt was reported to the bureaus.

To dispute items I would recomend the site www.myfico.com it%26#039;s run by Fair Isacc which is the creators of the credit score.

As far as the collections companies you have the right to have them send you info in writing. Also google FDCPA that is the federal laws in regards to debt collecting Know the law so they can%26#039;t bully you on the phone.

Good luck and if you need any help email me

bigducksfan1@yahoo.com|||I have a site that can help you it is

http://www.thecreditrepairmanual.com|||If you owe the debt then call and offer to settle the account. If their in collection agencies, then they bought the debt for pennies on the dollar. Offer them a one time payment of 40 percent to settle.|||The finance guy%26#039;s answer was pretty good. Just to add to it a little:

The longer it goes w/o reporting the less it%26#039;s going to affect your scores.

If you pay it off your scores will drop at first. A % of your scores is based off of recent collection activity. Paying off a collection is recent collection activity. Don%26#039;t worry, it will go up w/i the next month or two.

Just know that even if you pay it off they don%26#039;t have to remove the tradeline from your credit. They will show a 0 balance but still leave the account there. If you settle the account for a lower amount have them send you a letter stating the settled amount and after you pay it have them send you something saying the account is paid in full and keep it for you records.

One last thing, don%26#039;t expect that in 7 or 10 years it will just fall off of your report and everything is fine. I%26#039;ve seen collection agencies sell a collection on year 6 and it stay with another agency for a few years.