The purpose of a credit score is to predict future default risk.
A person either pays bills on time or doesn’t. Once you do not, you are scored accordingly.
If scores only factored in two years of payment history, credit (APR, fees) would need to be priced much higher to cover the unknown risk, and then everyone would complain about how expensive it is to lease or finance anything.
Most likely MB charged off and a collections company bought it and reposted the debt. Check with your state laws on the statute of limitations. I believe some states its 3 years-7 years. If its still within statue they can still fill a Judgement against you for the debt. If its past the SOL you can basically just wait it out. 7 years past the date of last activity(which should be your last payment or when you turned it in) you can have it removed from your report.
If you do want to settle it so it shows as Paid Off, You could probably settle with the Collections company for pennies on the dollar, They would probably take 1k and close it. I’d only advise that if you were still within the SOL and it wasn’t going to expire anytime soon, it would refresh the date of last activity and stay on your report for another 7 years.
Full stop
Do and say nothing to whomever has this debt
Join here
This will go down in a fashion similar to what Newwt has described
Chase has a credit score section that’s connected with experian. Experian itself, updates once a month but Chase’s product updates weekly.
Chase Credit Journey gives worthless Vantage Scores. Ignore those scores.
Update please
I checked on experian, on Credit Karma, Credit Wise from Cap1 and none of them show this. The only one that got a hit was on Chase (others actually went up). I don’t know what to think at this point. But I am still planning on pursuing this per ur guys’ suggestions.