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I think I opened a can of worms - What do I do now?
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Posted by Victoria on February 26, 2002 at 16:15:32:
I lost my job in 1994 and ran into some extreme credit problems because of it. While I have been trying to get back on my feet, I have been slowly trying to pay off my old debt. As such, I thought it would be a good idea to request a copy of my credit report to make sure everything was in order. However, while reviewing my credit report, I noticed that there was a charge-off entry dated 10/2001 for an unsecured bank loan showing a balance of $1,932 with a closed date of 10/2001. There was a second entry for this same bank loan, which had been charged off in 9/1996 with a $0 balance and showing a closed date of 9/1996. Now, here is where I think I messed up. I contacted the bank in question to find out what this 10/2001 entry was for. I explained that it appeared to be the same account that had been charged off in 9/1996 and that I was certain I had taken care of the past due amount in either 1997 or 1998. I was told to double-check my records because they have no proof of ever receiving a payment from me and that the credit report figure of $1,932 was inaccurate because I owe quite a bit more (they didn't say how much). Unfortunately, I can't find any proof that this account was paid--other than my own hand written notes relating to the numerous bills that I still had outstanding at that time (this bank loan wasn't among them). I have worked very hard at trying to repair my credit rating and now it appears that I may be liable for something I am certain had already been paid. What shall I do?
Also, if I hadn't opened my big mouth and contacted the bank, wouldn't the Michigan statute of limitations have run out in September of this year? Also, what do I do about the 10/2001 entry?
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