Since there are so many mistakes that may be on your file, having an old copy can help you years down the road. Why? This is the only way you can prove HOW old a bill really is. If the account was on an old collection 5 or 7 years ago, the account still may be on your file. Did you know that collection companies will still try to COLLECT, pass the seven year law that allows certain accounts to be on you file?Have you received calls from a bill collector for a bill that happen years ago? Or do you receive mail from an old bill that happen years ago? Why are they still trying to collect? Well, they want you to pay what you may owe.They key here is knowing the reporting laws. Why pay an account that is not suppose to be on your FILE?The information above is for collection accounts NOT judgements, liens, etc. The laws are different for these type of accounts. However, you want to KNOW how long any account is suppose to report to your file.Always know the DATE OF LAST ACTIVITY ON ALL YOUR BAD ACCOUNTS. This is the date that starts the seven year or ten year reporting rule.Good luck, and I hope this helped you out. Don't forget to educate someone else and try this site (www.creditadviseforyou.ning.com) with others so they can READ and be empowered.
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