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QUESTION: I recieved a loan in 1999, I did not realize that I still owed 42.00 on this until i looked at my credit in 2008. I paid it off as soon as i seen it. Now the credit bureau said that it will remain on my credit until 2015 that will be a total of 16 years on my credit for 42.00. I have didputed many times and the company agreed to remove it, but when i get results from TansUnion they say that it has been verified and stays on my credit. What do I do?
ANSWER: Dear Clinton,
When you paid the debt you re-aged the account. It will remain on your credit profile unless you speak with the reporting Party. Offer the reporting party Pay for delete, where as they will delete the information for an agreed amount of money.
Good Luck
Ontrack Financial Group llc
---------- FOLLOW-UP ----------
QUESTION: This kind of Re-aging is illegal, Right? It should have dropped off my credit report in 2007 after the seven years, and not be able to Re-age after 9 years. The company was very rude when I tried to call and explain to them and the owner told me that he did not care if it was on there for 25 years. What should I do?
Clinton,
When you paid the loan you re-aged the reporting of the loan. If the company agreed to remove it make them put that in writing. Take that letter and resubmit the dispute certified mail.
What's the name of the company?
Ontrack Financial Group llc
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Ontrack Financial Group llc
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