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On my credit report, I have a listing for 1st Select Corp stating the account was opened in 05/2000 and the last Date Reported is 05/2003 as Transfer/Sold and it was a Credit Card. I'm sure this was a valid account that I let get behind and never paid off or settled with a collection agency. I live in Illinois and I think the SOL is 5 years for my state. Since the SOL has passed, can I dispute this entry to have it removed from my report? Is there any value to my credit score in having a closed account, because it was transferred/sold, removed from my credit report or will things stay the same? Even if there is no added value to my credit score, would it be good to get this removed so a collection agency who does a hard pull of my credit report won't try to collect on it?

Thanks for your assistance.




I've seen case law that could swing both ways, both 10 year SOL and a 5 year SOL. Sounds like it has been sold to a JDB, so whether it's on there or not is irrelevant. If it is not reporting any derogatory info(late pays), it's not impacting your score.

Sub: #1 posted on Thu, 08/07/2008 - 03:39

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