I am totally stressed out. When I was a teenager I opened a BOA and it was overdraft for $195, that was about 4 1/2 years ago. I went to a bank and they advised me I was on Chex and they can only provided me 2nd chance acct, but I already have an ING acct and also another acct with a credit Union, so I was a little taken back and declined.

My credit score is a 680 EQ and I had no collections. Well needless to say I pull my Transunion and Experian there is is RJM is sitting there stating I owe $195. I know I owe this amount and I do not mind paying it. I contacted BOA asked them can I pay them directly they advised me the account has gone to a collection agency and I can no longer pay them ... So now I am stuck,


So instantly I pulled my Chex, and find BOA listed as account abuse it will drop off on 8/9/09 that would have been a full 5 years, but on my credit report RJM has it listed as placed on collections on 3/2008 to be reported until 1/11. So what do I do. I need the off because I plan to buy a house next year.

Do I send a DV letter, than a PFD?


I am confuse and just want this out because this is hurting me bad... Can someone help me please.

If it is 5 years old in 2009 then chexsystems will remove it at that point. Make sure it has been removed next year and if it has not, send them in a letter requesting that they remove it.

All other credit reporting agencies will remove after 7 years. That is the reason that they are showing that is is going to be removed in 2011. Paying it off or making a payment can start the clock over. The damage is already done. Paying it this year would cause it to be reported until 2015. I would do nothing and let it drop off in a few years.

As far as finding a bank or credit union, where do you live?