- Joined
- Apr 5, 2009
- Messages
- 553
- Reaction score
- 100
- Points
- 253
- Location
- Ottawa, ON, Canada
- Resorts Owned
- Vistana Resort Orlando (2BR, Deeded Wk10) , Silver Lake Resort Orlando (3BRLO)
Wow, 822/900 for a FICO is an excellent range score. There won't be any black marks on your credit report, so I would be suspicious of that lawyer who said it was impacting on your rating; that is just fear mongering.I did check thanks it’s 822 so I don’t think they reported it yet???
And to be clear, the ONLY place I think that this can appear on your Credit Report is under the Public Records section; you'll know long before, because a court proceeding will be required. It will not appear in your revolving Accounts section because it is not that type of obligation, and if it was not registered in your Installment section (car and property loans) back when you signed on, then it won't be now. It does not qualify for the Mortgages section. I am fairly certain that to report under the Collections section that the debt has to already be reporting in one of the previous sections of your report. So again, the only way that I can see it hitting your bureau is if they take you to court and obtain a judgement.
However, this advice is free and is worth what you paid for it. It is also based on my knowledge of Canadian banking; reporting may differ somewhat in the US as your financial laws are different (but generally more to your benefit as others have pointed out). Just be cautious what you do. I don't think you can dispute the debt as suggested however. Who do you dispute it with if it hasn't been reported/recorded anywhere?