Can anyone tell me about credit ratings and creditors?

Alright, I'm terrible with money. Awhile back, I didn't pay off my Blockbuster debt and they sent me to a debt managment company. At the time, I was a stupid, stupid college student and I was way busy with finals. I lost the darned letter. I neve paid the creditors but I haven't gotten any more letters from them. Have they forgotten? Do they forget? AHH! Also, how long does it take for credit dings to disappear? Right now, I have a joint credit card with my parents that is paid off religiously on account of my parents being angels. Speaking of angels, I also have a Victoria Secret credit card that also is paid off regularly. Does that improve my credit? What about overdrafts on debits? Thank you thank you! also, i should note that this happened about two years ago and i haven't recieved in letter since. how can i find out to whom i owe money?

Public Comments

1. First off, they NEVER forget when you owe money. It is probably on your credit report as an unpaid account. They could also send it to collections. If this happens you will get other letters. You can also order a credit report on line for free. Then you will be able to see if there is anything negative on there. Also, paying your credit cards on time does shoe as a positive to the credit reporting agencies. If you pay over the minimum amount it does look better and will eventually increase your credit score.
2. the best advice i could give you is run yourself a credit report and see where your rating are and who has the judgements against you..you can do this either thru your creditcard company or via the internet but there may be a charge for it... i wouldn't sweat the blockbuster thing their not considered a big player in the game....
3. No, creditors never forget. The account is more than likely on your credit report with at least one if not all three bureaus. The account can remain for a minimum of 7 years, but many creditors try to stretch that period by shifting the account to collection agencies or subsidiaries-which is illegal. I would get a copy of my credit report, a tri-merge-containing all 3 bureaus-Transunion, Equifax & Experian to see exactly what is reporting. The report will provide you with any relevant contact information for all creditors that are reporting. I strongly suggest that you investigate this. Poor credit costs you money in several ways-mortgage rate, credit card rates, insurance premiums, and even employment opportunities.
4. Have you ever thought about how many people in our country don't have a perfect credit score? You will surely be surprised to know that over 30 million Americans have a below average credit score. Boosting your credit rating takes some work. There is no quick fix to increasing your ratings. Repairing any damage takes time, but it also does not spell doom! So what is credit rating anyways? It is a number given to assess and reflect your creditworthiness. Your credit score will be a number valued from 300 to 850. While numerous factors can be attributed towards this rating, your payment and debt history are more important than others. Read more about it at: http://www.credit-card-gallery.com/article/196,Increasing_Your_Credit_Rating