Credit Reports Are Deceiving...

As I'm doing my summer cleaning.. emails, purging through old files, shredding excess paper work, I discover that an old credit card account (from when I was married to my first husband) was bought by a collection agency and instead of showing its last activity date more than 10 years ago, it shows as if it was just opened this year, because it was sold to the collection agency.  It shows as a negative item in my credit report and due to interest, its value doubled from what I originally owed.

When I got divorced, he stopped helping me making payments, I couldn't afford them, so, I just let the accounts go.  I figured that in 7 years they'd be erased from my credit history.  Now, this little sucker comes back to haunt me.  I pondered for a while, and decided to call the collection agency and make a deal with them.  I know that my credit score will drop after the settlement, but eventually it will come back up.  Also, it's the last reminder of that "not-so-kosher" time of my life.

My pocket is taking a dent, my heart feels relieved.  I know that in this day and age when a good portion of the population has either foreclosed, short-sold, or declared bankruptcy, my little credit card mishap is B.S... Still.. Sometimes, it's good to vent.

The reason I think credit reports are deceiving is because this little account has cost me a lot (not financially, but emotionally), and it does not reflect the type of person that I am.  I do not default on loans and rip off banks, and this unfortunate little account is showing any creditor who pulls up my report that I'm not trustworthy.  Well.. good thing I settled!