In my experience of updating; I noticed that Equifax did not change the date and just put in settled and zero balance. I don't want to decide for you and that is something you will have to decide on yourself.

Thanks for the help!

Would sending the letter for the bank make a new note on my file- causing me to have to wait an additional 6 years for it to go away? ( or it would show on my credit form that this debt was paid to national bank for the next 6 years? wheras since I'm already going to wait 3... maybe I should simply leave it? ( I just want to get my credit back on track as soon as possible. )

Thanks!!

I would send the release letter to update your file on the National Bank matter. If you can go three years without credit, I would wait on the others. If you can afford it, maybe you should settle them and get them off your back. If you’re in Quebec the statue of limitation is three years to sue someone, and it sounds like your past three years since you made a payment on these accounts remaining.

Hi,

I've got bad credit from being stupid as a teenager. I spent money I didn't have and thus am in this situation.

I just got my credit report from equifax and I ahve a couple questions.

1: I had a national bank overdraft of $345.00 that went to a collection agency in 2005. I then couldn't even pay that being a student and all, and i guess that's when the bank wrote it up at "written off". either way I cleared that debt in 2006. I recieved a letter from the collection agency with the agents reference number saying it was paid in full. I never sent that to Equifax and the "I9" is still showing on my credit report.

Should I fax that letter to Equifax... would it make a difference and help me to re-build my credit? or should I simply wait the 3 years now required ( it's already been 3 years since I paid it) for it to be taken off my credit report?

I Also had a credit card with Canadian tire and with future shop. not huge amounts, but more than I could possibly pay in full when Both went to collection agencies... That was also 3 years ago, since I last made a measly little payment and haven't made one since. (I still get calls, but can't afford to make any payments.)

Those credit card collection agencies haven't given me a bad credit rating that I can see of on the Equifax report. simply that I have money owing.

Should I simply wait the 3 years for that to clear off my credit report too?

I'm open to suggestions or anything from anyone who knows this stuff in and out and who can help me out here!

THANKS!!!