Quote:
Originally Posted by MightyQuinn
I have been trying for years to get a charged off credit card debt corrected with no success! To make a long and probably familiar story short, when I was an 18 year old freshman I got a Visa credit card, charged it to it's limit, graduated, paid the minimum payment for a while then stopped paying it. It's been soooooooooo long that it hasn't been on my credit report for years! I've tried to get in contact with Visa about the matter and they said they had no record of the debt so right now I'm at a complete loss as to what my next step should be. Luckily for me that was the only credit card I had in college and the only credit card I've had in my life that has a bad payment history attached to it. My credit rating is good but I can't seem to get it any higher lately. The only way I remembered I even had that card was when my financial planner recommended that I get a credit card because I didn't have one at the time. Visa sent me an offer in the mail but I was denied a credit line and wasn't given a reason as to why. It was then that I remembered about the card in college and figured that had to be the reason why. My husband and I have successfully financed quite a few big items over the years and his credit rating is great so this seems to be the only road block for me. If you have any good advice please help a sister out because I am truly at my wits end!  |
I know you posted this long ago but I'm fairly new and I'm cruising the forums right now. I don't know if you have received the correct information by now but let me say this: your financial planner was right in telling you to get a credit card; it's sorta ironic, people think credit cards will ruin their credit but it's the MISUSE of those cards the ruins credit and you have to have one to establish some sort of credit. Either that or a car payment is the best way to establish credit. Also, you say you've graduated so you have student loans right? That's contributes to building a solid credit history as long as you're paying on time every month.
Now as far as the Visa card you had in college, check your state's statue of limitations because if it's been years since you have paid on it, then legally they can't collect on it. For example, most states' limitation is between 3 and 5 years, if the statute has expired, then you don't have to pay that - that sounds like the case if Visa is saying they have no record of it.
HTH
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