The dispute involves a company outta winnipeg St Johns Music In 2001 I signed up to agree to rent to buy an instrument for my daughter I get a call saying I owe over $2000 which is crap cause the numbers dont add up I called St johns who have told me it is with Collection company I have talked to a zillion people at collection even went to the legal clinic nothing has happen. The problem is I dont have all my paper work and only stuff I got from St johns was a part copy of the contract 2 pages missing and a bill for over $400 dated 2004 that is suppose to be interest. The debt will go stats ban in 2010 but I want it off now

What was the dispute?

Okay after months and tons of paper work I still cant get a disputed debt off my credit report. The debt is suppose to go stats ban in 2010 but I want it gone now all I seem to be getting is the royal run around Help

I THINK the best you could get is a trade line that says "disputed account" underneath. Just like "paid" or "settled" underneath a trade line can be added.

Never heard of anyone having something removed due to documents not being produced because the creditor can still still show that you made payments etc. if Trans Union or Equifax questioned the debt. They just can't sue you to recover via the courts if the app or agreement are gone. The statements being lost would be very unlikely.

I do wish you luck in this, just haven't seen anything less than a complete mistake being removed before from a bureau.

For the record I'm not holding my breath on seeing any of these defaulted accounts removed from the bureau files. That said, if there is a loophole that can be exposed - i.e. if not being able to produce a contract has any link to validating this debt, then that may be an avenue to exploit. I've yet to locate any concrete document that covers the subject in depth, so until I can complete additional D/D on the subject this is being left on the shelf as an idea only.

Settling the accounts was my intention all along. Only recently did I become curious to the above.

THEY should be the ones that should aim to settle if its past the SOL, the banks don't really have a choice if they can't sue.

And if you have other accounts that are active and healthy even better because those or any new credit would be above anything written off.

As for removing this from your bureau...don't have that as a goal or you will be let down. The banks will settle and show something as settled but they can't/won't delete a credit item that was listed unless it was an error. They rarely admit to mistakes as you've probably noticed.

Nameuser,

If I am unable to work it so that the account(s) is removed entirely, I'll aim to settle as my bureau files will at least appear as if they are not on last-leg life support. Regardless of whether or not I may need to apply for additional credit in the next few years (still have some active and healthy accounts), there are certain moral factors in play. Hence why I REFUSED to declair Bankruptsy.

Joe, with all due respect, I'm well aware of your 10% position on settling accounts. Your point is noted; let's just leave it at that.

O.C.

Thanks Joe I was asking Ottawa about his specific situation :)

The two year statute is to sue. The six year rule is when is comes off your credit file, from the last date of activity or transaction. It’s good to settle your debts and if the debt has passed the statute, I wouldn't offer them more then 10%.

Ottawa - from your post below...the SOL has been reached on both debts?? Why would YOU want to settle if it has reached that point??

And is this the 2 year statute for legal action or the 6 years to come off your credit bureau we're talking about here??