Credit report ???!!!?
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i just recently got my credit report from equifax......i noticed that on some of my bad standing accounts under account status it says "check off "....it says that i still owe a balance but it says that it is a closed account....and under COMMENTS: it says "checked off account, closed by credit grantor"..anyone knows what this means? should i pay it off or what? any helpful info will be much appreciated..thanks!
Credit report ???!!!?It is a accounting term that means the credit card company has written off your account as non collectible.
This does not mean that you still do not owe the money. Most likely they sold your accounts to collection companies who will also show up on your credit at some point.
Derogatory accounts show for 7years from the date of first delinquency then they drop off your report.
There is another time line that you should be aware of and that is the statute of limitations. I have posted a link so you can look up your State.
After this date has passed you can still be sued for the debt, but all you have to do is show the court that the S.O.L. has expired and the case will be dismissed.
http://www.bcsalliance.com/index.html
Credit report ???!!!?Get your free credit report online: http://www.capitalcounselor.co... Report It
Credit report ???!!!?This means that the credit grantor (credit card company) has closed your account and "written off" your debt. They have reported you as so delinquent that they have no hope of recovering their debt at this time. This does not mean you don't still owe the money. This also looks extremely bad to new creditors and will lower your score and make it hard for you to move forward in life, such as buying a car or a house.
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