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RE: New...looking for advise

Postby FociPhil » Mon Feb 04, 2008 12:08:15 PM

Good advice. Ill wait until the investigation comes back.

Ill update once I know more. Thanks!
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RE: New...looking for advise

Postby angella » Mon Feb 04, 2008 12:03:01 PM

If Rogers has no record of it, it is not likely to come back as yours... which should make that step the only necessary step.

Don't think too far ahead, don't stress about it, just dispute it and go from there.
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RE: New...looking for advise

Postby FociPhil » Mon Feb 04, 2008 11:58:05 AM

I was thinking that was the next step. If it does come back as mine, I would contact them to remove it if i pay in full.

The only issue I see with that, is that rogers has no record of the account in my name, or balance matching. Can they guarentee to remove it, when rogers has no record of it?
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RE: New...looking for advise

Postby angella » Mon Feb 04, 2008 11:00:28 AM

Yes, paying it is going to make your score drop. If it is yours, and if you do pay it, the only way you should do so is if you have a guarantee, in writing, that the entry will be removed completely. Get the guarantee from Rogers for their entry and from the collection agency for their entry.

Make absolutely certain it is yours, first, or this could come back to bite you in the arse.
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RE: New...looking for advise

Postby montyloree » Mon Feb 04, 2008 10:37:38 AM

Yes... the item stays on your credit report for six years from the date of last activity, which would be the payment.
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RE: New...looking for advise

Postby FociPhil » Mon Feb 04, 2008 10:12:34 AM

Thanks for the welcome!

Yes, I was a resident of SK for a few years. I moved home to Toronto, but SK still has a place in my heart ;)

So if I were to pay the collection, it would be on my report for 6 yrs, starting 2008 (2014)? Otherwards it would drop off in 2011 (2005 date filed, plus 6 yrs?)

If it is my debt, I plan on paying it, its only a ballance of $117 left. Im just more curious how it works. And do I run a risk of my score dropping, becuase it is "re-newed", where as it has aged for 3 years already?
FociPhil
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RE: New...looking for advise

Postby angella » Mon Feb 04, 2008 07:12:37 AM

However, if it is not yours, you should not pay it... for two reasons:

First: Why pay something that does not belong to you

Second: Paying it will "re-age" it till 2008, and it will remain for another 6 years past then.

Disputing it was the right thing to do.

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RE: New...looking for advise

Postby montyloree » Mon Feb 04, 2008 04:08:13 AM

Hey FociPhil,
Collections/most trade items will last on your credit bureau account for 6 years.

You're from Saskatoon... It's nice to see another Saskatchewan resident on here!!
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RE: New...looking for advise

Postby FociPhil » Sun Feb 03, 2008 07:11:08 PM

Sorry, I guess there was no question in there...

After reading through the site. If this new Rogers collection is mine, does it make sense paying it? It was 2005, so would it not drop off next year?
FociPhil
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New...looking for advise

Postby FociPhil » Sun Feb 03, 2008 07:06:01 PM

Hi everyone,

I came across this site while looking for credit improvement advise for Canadians on Google. After searching through the threads I found some great information and thought to my self "I should join" and maybe offer some help as well.

I live in TO, born and raised, but recently spent 3 years in Saskatoon. While I was there I worked for a short period as a manager for a payday loan company. So any questions about that or collections, I may be able to help.

Im not sure where to post my questions, Im 24 and looked at my credit report for the first time a year ago. So at that time I started giving alot of effort to improving my credit. Recently, I looked at my credit report (I'm trying to make it a yearly thing now) and had a score of 631, which I thought was terrible. After looking through the threads, it actually doesnt sound that bad.

The wierd thing is a year ago, I had a collection for Rogers. I researched and discovered that it was a legit debt I had and paid it off. So I thought, but this years report I found a collection for Rogers filed 2005, for a different amount, and a different balace oweing. I called rogers, and they only record they have for my name is my current wireless, and the account I paid off. I sent equifax a investigation report via mail, and hopefully will here back in the coming weeks.

My main goal is for home ownership in the next 4 years or so. Glad to be here! (sorry for the length)
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