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June 23, 2007


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I am actually in this situation and I am not in debt nor do I have a less than frugal past.

About 3.5 years ago, my wife and I bought our current house and moved out of an apartment. I determined that the apartment complex owed my $150 of my deposit and they said I owed them $160 (or so). It wasn't enough money to sue them, so I disputed it and it ended up on my credit report. I got it off my Experion credit report but it is still on the other 2. If I can't get it off the other 2, I'll just wait for the 7 years to be up. I hear that all you have to do is tell the credit company that it has been 7 years and they have to take it off.

Try to keep up on what the apt complex is doing....Right now the apartments I'm in just got bought out and the 2 managers that were running the place moved on to better jobs. That left 2 of the front desk workers that had 1 year experience. That would of have been a great time to refute your credit report.
Someone can correct me if I'm wrong but I remember Dave Ramsey saying that a bankruptcy can stay, on your credit report, 7 years from which the company posted your bankruptcy. The company can legally post the bankruptcy within 7 years from which the bankruptcy took place and then the time will start rolling on your credit report. So theoretically a bankruptcy can last 13~14 yrs on your credit report. I'm assuming this could happen to bad debts also (with the timeframe adjusted to whatever the debt is).
But all it takes is one time to dispute it (in writing) and the company not get back quick enough or in error. Which should clear your report.
If this happened to me, I would make it a new year's resolution every year until it's cleared.

I'm working on it but now that hard. I have not a single other blemish on my credit report. When I refinance my home, they asked about it and I told them the situation and they said it wouldn't prevent me from getting the best rate. Hopefully, I cna get it resolved this year.

I was in the situation where I was a member at Ballys Total Fitness and I stopped going because I moved into a place with its own gym. Ballys kept charging me monthly membership dues. After filing a lawsuit, they finally stopped, but the issue was still on my credit report and wouldn't come off. I explained it to the reporting companies, but they refused to take if off. The seven year limit was last year and it's finally gone!

If they sue and obtain a judgment, the judgment may be reentered again at the later date if not cleared through bankruptcy. As to the circumstances under which this can occur however, I am uncertain.

we had a car repo. we got the car back within 10 days and paid all fees in full. the car was paid off 3 yrs early and the company didn't lose any money when they reported the repro we leally owned the car and the repro was put on our credit anyway.It have been for over 4 yrs. now Also we got bedroom suite in 1999 and it went into default in 2000 we paid over 8000.00 on this bedroom suite but they say we still owe almost 8000.00 on this property that was only worth 2000.00 when e brought it almost 9 yrs ago. this is really hurting our credit score. then i have a niece that used my name to get lights in her apartment and she owes 116.00 and also a cell phone that she owes over 400.00 i didn't find out about these things until 2006 what can i do.

I don't know if this is the right venue to ask questions or only post comments. I am being summoned to appear in regards to credit card debt that is over 7 years old. It is my understanding that it is beyond the statue of limitations, 6 years in Michigan. When I appear in court, without an attorney, do I bring a copy of the statute and credit report. to defense my point?

I loan someone a total of approximately $40,000 between Jan 2003 and Aug. 2007. We both lived and still reside in Florida through the duration of these transactions.

When does my statues of limitations actually begin from the time the check was cashed or from when the last loan transaction took place? I gave him the first original loan for almost $18,000 in Jan 2003 and loaned numerous amounts and or paid directly for him for rent, car payments, insurance, medical bills, etc. through the remained of the time period.

Please tell me I still have hope of recouping this money. I do not have a legal signed agreement for the transactions, but I do have emails and text messages saying he will pay but just doesn't have the money right now. I have copies of the canceled checks, bank statements showing withdrawals from my account to deposit in his, payment for car via over-the-phone banking.

What can I do to legally recoup this money? Please offer some insight please. Besides I was a fool for trusting this person to pay me back promptly. he has paid a little her or there but nothing substantial - maybe a few hundred or so over the course of this time period.

Thank you.

Insman and Sandra --

I just posted your questions for my readers to answer. You can see their suggestions here in the comments section:

Good luck!

I got a few debts that are over 7 years old. My questions is how do i go about sending letters to creditors? Also do i write these letters or how do i go about telling the creditors is over 7 yrs and that they should remove them. Thanks.

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