Legal Question in Credit and Debt Law in California

Re: debt

There is no question that the creditor has the right to place a derrogatory remark on your credit report. You state that you were responsible for the bill (regardless of the agreement between you and the other owners of the timeshare), and you didn't pay it. Accordingly, the creditor has the right to continue to report it as being delinquent until you pay the bill. When you pay the bill, (plus I would assume collection costs, interest and fees - to which they are probably entitled under either their terms of service or by statute), you can expect that the delinquency will remain on your credit report for seven years, negatively affecting your credit. They have no obligation to remove it from your credit report even after its paid, and probably will not. They certainly won't remove it before they get paid. I don't understand why you haven't paid this to settle it as there is no question its your responsibility - personally my credit is worth more than $57 to me.

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Re: debt

Credit reporting agencies are required by law to remove any derogatory mark that is more than 7 years old, if you send them a letter disputing the validity of the debt. So, send the credit reporting agency a letter telling them the debt is over 7 years old and you do not owe it and never did.