Cleaning up the credit report?

**Sari** · 08-10-2007, 10:27 AM

Here's what I have, anyone have advice?

Old credit card that was sold or transferred to another lender. This is from 2002. Balance showing at $1557.00.

One old utility account that went to collections. From 2002-ish. Balance $206.00.

Old cell phone, in collections, dated around 2003. Balance $451.00

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So, I know that sometimes when you pay off old debts it can negatively affect your credit score. What should I do? I want to get a mortgage this year.
TIA!

**Jaded** · 08-10-2007, 10:30 AM

Things stay on your credit report for 7 years from the time they are sent to collections. What most people don't know is if you RESPOND to any of the collections, the time starts over. If you don't intend to pay these in full immediately, I'd say ignore them. The only way to clean them up is to contact the person who owns the debt and get them to PUT IN WRITING that if you pay XX amount, they will remove it from your report. If it isn't in writing, you can't enforce it, and it will stay on your report.

**FrugalMomof3** · 08-10-2007, 07:50 PM

Ok this may sound bad but since they are from 2002 & 2003 I would just let them be and DO NOT make a payment or your 7 year time limit will start all over again. The 2002 one's will be off in 2009 and the 2003 will be off in 2010, why bother unless you can pay them in full or STICK to a payment plan.

If you dont plan I purchasing a new car or home or obtain new credit, leave them be, they will eventually just go off the credit report.