"Optional step 3) sue the collection agency. I'm on step 3 now."

Millie,

Curious here.. How did you determine what monetary figure to assign to the damage inflicted on your bureau report by the C/A? Does opportunity cost come into account? I/E: One see's a rock bottom price on a house, but cannot obtain a mortgage due to inaccurate information of their credit file? Thus, they lost out on say a $50k savings, therefore that's what they sue for...

Obviously that's simply a laymen overview, but I'm certain you follow where my question was leading..

O.C.

I think we are all anxious to see how she makes out with her lawsuit.

Good luck, Millie. I hope you nail them for damages. I am currently speaking with someone who is a budget advisor and she is taking me on as a client and is going to help me fight the collections agency and the bureaus to get my credit fixed. She was impressed with my previous credit behavior and feels that I should be able to dispute this and rely on my credit history as my show of integrity.

Hopefully, I can.

If it is from the 90s it can't be on your credit report. Items remain on your report for six years from the date of last activity.

Some collection agencies will try to re-date old debt. This is a violation of the Collections Act. I just had this happen to me and I got it removed.

1) File a complaint / investigation with Equifax. It is a complete waste of time but you have to do it. Equifax will always side with the collection agency as their investigation is basically just asking the collection agency to confirm but not requiring any documentation.

2) File a complaint with the Registrar.

Optional step 3) sue the collection agency. I'm on step 3 now.

This happened to me in '90 with a Sears card when I was 18 and I learned my lesson then. Since then I have had very good credit and never a problem with obtaining more credit. I keep my credit low and manageable on purpose.

Now I have an R9 and chances are even though I am being screwed around here, I won't ever be able to get it off my report.

Is my credit screwed now? I want to be able to buy/lease a new car in about 2-3 years. Am I done for now?