You might want to check on your state's statute of limitations before making a decision on a debt from 1999.
Bad debts can show on your credit for 7 years plus 180 days from the last time it was paid as agreed. However, there is a different time period, SOL, which is established by state law, during which a consumer may be sued over a debt. This time-frame can, under certain state's laws, be re-set with a payment or an agreement to pay.
Generally, no. When someone settles with a lender, that lender has already notified the credit bureaus of the bad behavior leading up to the negotiation of a settlement. In more than 75% of the cases, the lender has already sent a chargeoff transaction line to the bureaus which will stay with the report for the next seven (7) years. Most lenders don't indicate that a borrower paid off a settlement and they are not required to do so. So, if you choose to pay the settlement, the only way you MAY get a benefit is to use the part of the dispute process with the credit bureaus that allows you to add a note to a given transaction line (again, your missed payments and/or chargeoff will not go away for a while), so your note should be clear as to (1) when you agreed to a settlement, (2) the terms of the settlement and (3) the date on which you paid the settlement off.
Your landlord would have to report payments to the credit bureau.
yes
The word settlement is considered negative on your credit report. With a settlement, you are settling for less then the total amount due. Like bankruptcy, settlements will remain on your credit report for several years.
Utility payments
Generally, no. When someone settles with a lender, that lender has already notified the credit bureaus of the bad behavior leading up to the negotiation of a settlement. In more than 75% of the cases, the lender has already sent a chargeoff transaction line to the bureaus which will stay with the report for the next seven (7) years. Most lenders don't indicate that a borrower paid off a settlement and they are not required to do so. So, if you choose to pay the settlement, the only way you MAY get a benefit is to use the part of the dispute process with the credit bureaus that allows you to add a note to a given transaction line (again, your missed payments and/or chargeoff will not go away for a while), so your note should be clear as to (1) when you agreed to a settlement, (2) the terms of the settlement and (3) the date on which you paid the settlement off.
All of the credit reporting bureaus allow you to dispute transaction lines found in the credit report. For actions like chargeoffs, the dispute is really adding a note to the file that one will hope a creditor will read when considering you for credit. You will need to know very specific information concerning the chargeoff (including the account, the amount, when the chargeoff occurred, etc.) and your statement will need to represent why the chargeoff should not be considered when applying for credit.
Your landlord would have to report payments to the credit bureau.
yes
The word settlement is considered negative on your credit report. With a settlement, you are settling for less then the total amount due. Like bankruptcy, settlements will remain on your credit report for several years.
Utility payments
No. Once a person is being threatened by a collection agency, there is a high liklihood that the damage to the credit report is already done - a chargeoff or collections transline will already be in your credit report. Having a payment plan merely gets the debt paid and on-time payments are usually NOT reported (however, if you miss a payment, that company can and will send a negative tradeline to further damage your credit reputation).
Yes, it does show up on that persons credit report. If you are late on payments, it will negatively impact his/her credit report.
It shows on your credit report even before they start making payments.
you can't
99999
Yes late payments can come off your credit report. They can be removed by either the original creditor that put it on there or by the credit bureaus. You can dispute late payments on your credit report with the credit bureaus using the Fair Credit Reporting Act. The FCRA requires the credit bureaus to contact the creditors to verify the late payment. If the late payment isn't verified it must be removed.