Collection account

I wanted to set up internet + cable on my new apt for me on my roommates through time warner. i called them today and htey said that i had a collections account from 2 years ago that i never paid at my old college for digital cable. they claim that i never returned the equipment for digital cable, but im sure i did. they said that i owe them 450 dollars before they will open up a new account for me at this new address. I basically told them no im not paying them, and i called one of my rommmates later and had him set up in his name.

I am wondering if this collections account is on my credit report, but free cred reports don't become available in my state until Sept 1, 2005. This account is from May 2003, by the way, so it's quite old.

[Shajen]

I believe no matter what state you live in you are entitled to one free report a year.

Do some googling, it's out there...

[meleader2]

i haven't returned mine yet and it's been 2 months. i wonder what they'll do? it isn't in my bill or anything...

[ QUOTE ]
i haven't returned mine yet and it's been 2 months. i wonder what they'll do? it isn't in my bill or anything...

[/ QUOTE ]

No it wouldn't be. They just refer it to an incompetent collections agency I think. I just found out about it this morning and the account is almost 2 and a half years old.

[ QUOTE ]
I believe no matter what state you live in you are entitled to one free report a year.

Do some googling, it's out there...

[/ QUOTE ]

Yes I can get one free one, but it's not available in my state till Sept 1, 2005:

http://www.ftc.gov/bcp/conline/pubs/...reereports.htm

I just checked my credit report and it has this information about that collections account:

COLLECTION ACCOUNTS:
Count: 1
Balance: $400.00
Current: 0
Delinquent 0
Other 0

Account Name: XXXXXXXXXX
Account Number: XXXXXXXXXX
Acct Type: Collection Department / Agency / Attorney
Acct Status: Closed
Monthly Payment:
Date Open: 4/1/2004
Balance: $400.00
Terms: 1 Month
High Balance:
Limit:
Past Due: $400.00
Payment Status: Seriously past due date / assigned to attorney, collection agency, or credit grantor's internal collection department


Does all of this mean that I don't have to worry about them coming after me, since the account is closed?

[Maulik]

[ QUOTE ]
I just checked my credit report and it has this information about that collections account:

COLLECTION ACCOUNTS:
Count: 1
Balance: $400.00
Current: 0
Delinquent 0
Other 0

Account Name: XXXXXXXXXX
Account Number: XXXXXXXXXX
Acct Type: Collection Department / Agency / Attorney
Acct Status: Closed
Monthly Payment:
Date Open: 4/1/2004
Balance: $400.00
Terms: 1 Month
High Balance:
Limit:
Past Due: $400.00
Payment Status: Seriously past due date / assigned to attorney, collection agency, or credit grantor's internal collection department


Does all of this mean that I don't have to worry about them coming after me, since the account is closed?

[/ QUOTE ]

no it means they won't extend service to you.

[ QUOTE ]
[ QUOTE ]
I just checked my credit report and it has this information about that collections account:

COLLECTION ACCOUNTS:
Count: 1
Balance: $400.00
Current: 0
Delinquent 0
Other 0

Account Name: XXXXXXXXXX
Account Number: XXXXXXXXXX
Acct Type: Collection Department / Agency / Attorney
Acct Status: Closed
Monthly Payment:
Date Open: 4/1/2004
Balance: $400.00
Terms: 1 Month
High Balance:
Limit:
Past Due: $400.00
Payment Status: Seriously past due date / assigned to attorney, collection agency, or credit grantor's internal collection department


Does all of this mean that I don't have to worry about them coming after me, since the account is closed?

[/ QUOTE ]

no it means they won't extend service to you.

[/ QUOTE ]

Ok what if I don't care about that? Let's say that I have a girlfriend who will gladly put her name on any future Time Warner accounts that I need. Then I don't need to pay the $400, right? They won't come after me?

What I'm really wondering though is if this is hurting my credit score. Experian says that I have a credit score of 548 which they classify as "very poor", the worst category. In my short credit history, I have this collections account, and one late credit card payment(which was only because I lost the bill and forgot about it, but I paid it promptly afterward). Is the collections account hurting my credit score even though it is now closed?

[Al P]

It means you're screwed for 7 years.

Yes it's hurting your score and will continue to hurt it for 7 years from the date of last activity (date you last paid them).

Right now the worst thing you could do is pay them as that will actually re-trigger the date of last activity and it will still show on your report for 7 years from todays date. The only way you'll ever get it taken off is if you get in writing that they will delete the tradeline as consideration for you paying off the balance. Or you could request validation and dispute et al. but I never really had much luck with that except for getting collectors to STFU and not contact me any more.

Check out the forums at http://www.artofcredit.com for some decent info.

[ QUOTE ]
It means you're screwed for 7 years.

[/ QUOTE ]

This is going to hurt my credit for 7 years?

[censored]. I can't improve it by continuing to pay my bills on time and continuing good credit?