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The 7 Year Clock is Ticking – Credit Reporting Limits

I have been writing a lot lately about disputing expired items on your credit report. I encourage you to do so especially if your states statute of limits has been reached on the debt owed. If so it is no longer collectible as a valid debt. So if the debt is no longer valid I suggest the strategy of disputing an aspect of the credit file item that is inaccurate and ask for its immediate removal. This could be inaccurate date, amounts owed, account numbers or anything that is invalid. Keep this in mind that even if your states SOL is expired the item can still remain on your file for 7 years total. It only makes sense to dispute it in advance of this as the credit reporting agencies have no desire or inclination to remove on their own. This is something you can do yourself with some skillful written notices. DON’T try to get things removed via email, forms, or phone. Only deal with this in writing.

Finally, As part of your credit repair and restoration journey you must make critical decisions on whether to pay up on past debts. In some cases is really makes sense to make good on what you owe but you must weigh the consequences first. For example if the debt is recent enough and the SOL is long ways off it might make sense to use the debt settlement strategy. However if the SOL is nearly met on this debt you probably should not make any deals to repay it. It is important to know that any items that are about to drop off your credit file due to the age could instantly have the 7 year clock restart if you make a one dollar payment on that debt. So don’t feel like you must settle a debt that has reached the SOL or 7 years on your file. If your conscience is getting the best of you think about it this way. The original creditor has already written this off as a bad account/receivable. They took a tax deduction on this transaction or transactions many years ago so you are not hurting their feelings. They have also received a sum of money form a collection agency that took a flyer on this account in hopes of reaping incremental revenues. So you are not hurting them. NO in fact you need to look at your decision as stepping stone of your learning process to never let yourself get into this position again.

Make the right choices along your journey will enable it to be more successful. Choose to make changes now and accept patience as this is not an overnight trip! Find our strategies and sample letters on our website at

From the Fair Credit Reporting Act:

§ 605. Requirements relating to information contained in consumer reports [15 U.S.C. §1681c]
(a) Information excluded from consumer reports. Except as authorized under subsection
(b) of this section, no consumer reporting agency may make any consumer report
containing any of the following items of information:
(1) Cases under title 11 [United States Code] or under the Bankruptcy Act that, from
the date of entry of the order for relief or the date of adjudication, as the case may
be, antedate the report by more than 10 years.
(2) Civil suits, civil judgments, and records of arrest that from date of entry, antedate
the report by more than seven years or until the governing statute of limitations
has expired, whichever is the longer period.
(3) Paid tax liens which, from date of payment, antedate the report by more than
seven years.
(4) Accounts placed for collection or charged to profit and loss which antedate the report by more than seven years.2

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Mid-Week Credit and Debt Repair Quickie

Fast Factoids About Credit Repair and Debt Settlement

Fact #1…It has taken most of us several years to damage our credit.

Fact #2…It will take time, patience, and hard work to undo those years of neglect.

Fact #3…There are no “secret” silver bullet strategies involved. Just plain commitment and constant work. Look around my and there you’ll find most all the basic resources you’ll need to get started on your journey. In some cases you may feel overwhelmed or hopeless. If so, then you may want to seek additional guidance. But all you really need is time and a positive attitude.

Accept these facts, and you’ll succeed beyond your wildest dreams! Enjoy the journey and have fun!

Live Life Richly Today!

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Fix or Repair Credit Gets Bad Reputation

Trusted Suggestions

One of the biggest misconceptions we all face is that credit repair is bad. The truth is, when done by rules and letter of the law, repairing and fixing your credit is perfectly legal. And when you consider that 50-70% of all credit reports in the United States are inaccurate, something has to be done! Yes, there are scoundrels and credit repair firms out there touting services that are very illegal. A couple obvious key things to remember are that you cannot just simply apply for a new social security number or may not just hire someone to delete information on your credit files. If a person or firm touts this as their solution, then you most assuredly are dealing with extremely bad credit repair practices.

As an expert teaching credit repair, I am often lumped into the same category as the certain sub-cultures that exist on the Internet. For example, all strategies that I make available to you are above board and are simple steps you can take as an individual to repair credit on your own. You know by now that there are online firms out there that will charge you hundreds and thousands of dollars to send off some letters to credit reporting agencies for you when you can actually do this yourself with as good as or better results. But these “for hire” folks are apt to be the ones that give the credit repair process a bad reputation. They are also the sources of internet scare tactics about doing things yourself. Claiming because you are not an expert or attorney you might actually cause some legal action or credit score damage.

In dealing with repairing credit you are always going to have the possibility of creating additional problems. Be assured none will be worse than what you already have experienced. For example if you begin to dispute an old debt you may very well ignite the possibility of a lawsuit to collect. A majority of the time collectors are not playing hard ball unless the amount outstanding is very significant and they feel you have means to make the payment! Ultimately, starting the dispute process will at least start the process for a resolution even if the final result is bankruptcy on your part.

Finally, I only suggest methods that are fully legal and common methods afforded to us by the laws of the land. It is wonderful to have the power of the law on your side. Remember, when dealing with credit reporting agencies, you need the law behind you. Without it, they would not concern themselves with the accuracy of your reports. The credit bureaus must present fully accurate reports on each of you, and unless you initiate complaints of inaccuracy, the bureau could care less. So let me stress that on my blog and website you will not find any illegal credit repair advice or methods of debt management. I’ll leave that to the scammers and scoundrels and will warn about such scams with periodic alerts. Above all, I will keep on defending your rights as a consumer to have a clear and accurate report of your credit history. Nothing you find here will leave you feeling repair credit is bad and should be avoided.

Take control of your situation by teaching yourself how to repair your own credit and move forward with a new confidence!

Live Life Richly Today My Friends

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Disputing Credit File Online Risky?

Dispute Simple Credit File Errors Online

Dispute Simple Credit File Errors Online

I am always for doing things simply and quick. But this isn’t always the best decision when it comes to disputing errors on your credit reports. Obviously the very best method is to write letters to each of the big three credit reporting agencies and keeping it very documented.

When I say documented I mean send your letters certified return receipt so you can have solid proof that the credit reporting agency received your dispute. Now let me be clear that there are some things I would use the online forms for correcting errors. Easy fixes like current address, your name, place of work, birth date, etc. You get my drift. But when it comes to disputing those items that are causing damage to your credit score, you really need to get personal and write those letters.

We have a very good set of letters that are all included in a free PDF file at Feel free to go over there and sign-up to receive this and much more. Good luck and make sure you are not one of the 200 million Americans with errors on their credit files! Better credit files will lead to better matters of the wallet and an overall improved personal worth!

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Why a personal worth blog?

Welcome to my new blog spot! I hope you find this a worthwhile spot to hang out and that very quickly you you’ll decide to subscribe.

The Internet is flooded with thousands of websites that deal with credit, debt, and credit repair. My own is among the mix. It is great that we can take advantage of the web to help get our credit scores improved, but how many of us really take a good honest look at how we ended up searching Google on such credit related topics? Personally I think the reasons are numerous and in many cases very much out of our own control. But in most cases, if we get “real”, most of the we time can attribute that we are the cause of our own misery.

My goal is to spark the motivation in each of you to look deep into your souls to identify why you are where you are and help you make a decision to get things fixed and committ to not let history repeat itself.

Ultimately I define personal worth as:
• Solid Personal and Family Financial Habits
• Making your financial life automatic
• Living everyday as an opportunity to better ourselves and make a difference

Please stop by frequently to read my and other’s blog posts. The possiblities are endless and together we’ll learn how to live life richly… I promise!

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