Banks pull credit reports to open accounts to look at financial history, verify your identity and check to see what financial products to offer.
Creditors can choose when to report a charge-off but the remove date of charge offs does not change. It is 7.5 years from the date of last payment.
You have the right to stop the debt collector threats and stop debt collectors from calling and writing you. But that does not eliminate the debt.
Goodwill letters still work even if the creditor says it is against the law to delete a negative item. It is not against the law just keep pursuing.
Timeshares are often purchased under pressure but if you do not cancel in time, timeshares can end up on credit reports as charge-off, foreclosure or both.
When a debt collector asks you to provide proof you owe a debt, don’t. It defeats the purpose of the debt validation process.
Requesting debt validation does not always lead to getting that information from debt collectors. But can unverified debt be removed from credit reports?
The time period when a negative account should be removed from reports is 7 years and cannot be restarted by a creditor or collection agency.
Midland debt collectors do not always respond to debt validation request but you do have options.