Mortgage company makes me pay an old debt.
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Posted by whitesea
(148.87.1.171) on July 21, 2004 at 19:11:39:
I am buying a condo soon. My credit report shows an old debt from Aug 1999 with the amount $107 that is coming from the collector CFC Financial. (The original owner is Ameritech and later SBC in Wisconsin) My bank says I have to pay this debt in order to get a mortgage. I need the money so, I will pay. The question is: - Will it restart the clock of the collection entry? (as a paid-collection)
- What can I do to keep the original date (Aug 1999) on my credit report? ( I was hoping this to be removed after 7 years, in 2006)
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