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Question about Re-Aging and Asset Accpt
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Posted by NewMom
(152.163.252.134) on January 12, 2004 at 12:42:21:
Hi. I have been reading this board for several months now and love the site. My husband and I have all kinds of credit problems. This will be the first of several questions to the board. My husband is currently working on improving his credit score. He has been disputing, etc. with some luck. My question is he has an Montgomery Wards account (they are no longer in business)listed on his report with the balance of $1098, past due $1098. It shows the acct. was closed 09/1999 and updated 05/2000. It also says >Profit and loss now paying< Asset Acceptance is also on his report referencing Montgomery Wards (so I guess they bought the debt). The balance they show is $1375 and they show the account as updated 12/2003. My husband has been sending payments to them, but I'm wondering if he should be. And also does the "updated" date mean they re-aged the account? Help would be greatly appreciated...and I will have a lot more questions for this board so heads up! :)
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