Contact Washington Mutual ("WAMU") and ask them to "re-age" the account. Explain your history and the situation. Ask for them to send you a letter affirming that they have agreed to this status, if you can get them to accept it.
Then pull your credit and make certain that the update has taken effect.
Most credit bureaus update their files every 90 days, or approximately quarterly. This does not necessarily mean that what you are seeking will show up in the next reporting cycle, as there are frequent delays in reporting. Also, all items remain on your credit report for up to 7 years. A bankruptcy may remain on your credit report for up to 10 years.
According to the Fair Credit Reporting Act, all trade lines can be reported on each of the credit bureaus. However, the reporting agencies must update and keep accurate data in their credit files. If there is erroneous information (like your collection account, that you believe is inaccurate), you must notify them (typically through a certified letter) and then wait one reporting cycle (90 days) for the errors to be removed.
There are three major credit bureaus that offer credit reports, if there is something that you want added or removed, you should contact them directly:
| Equifax | Experian | TransUnion |
|---|---|---|
| 800-685-1111 | 888-397-3742 | 800-916-8800 |
| Equifax.com | Experian.com | TransUnion.com |
| File a credit dispute online at Equifax | File a credit dispute online at Experian | File a credit dispute online at TransUnion |
Each bureau interprets your credit information differently, so you might want to get a report from all three. Bills.com has a link to get your "tri- merge" credit report, or you can get it online for free at AnnualCreditReport.com.
Also, it might be important to understand how your credit score is calculated. Your credit rating is calculated based on several variables, including: your payment history (do you have any late payments, charge-offs, etc.), the amount and type of debt that you owe, if you have maxed out any of your trade lines, and then several other secondary factors like the length of your credit history and how many recent inquiries have been made to look at your credit history. Paying off delinquent or maxed out trade-lines will almost always help your credit score.
If you would like more information, please visit our credit resource page.
We hope that this helped you to Find, Learn, and Save!
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Bill
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