How many years does somthing stay on credit ?

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basswitch
Posts: 4
Joined: Mon Apr 03, 2006 7:09 am

How many years does somthing stay on credit ?

Postby basswitch » Mon Apr 03, 2006 7:41 am

Can you please tell me how many years do things stay on the credit report. I have always been told 7 years from time of last service/ activity. Now I am being told up to 10 years and the can report again for another 7 - 10 years. I have a couple things on want to despute due to time.


Thank You
Amy Smith

HelpMe2006
Posts: 214
Joined: Sat Feb 25, 2006 5:46 pm

Postby HelpMe2006 » Mon Apr 03, 2006 8:17 am

My understanding is:

Negative accounts remain for 7 years
Good accounts remain for 10 years
BK 7 remains for 10 years
BK 13 remains for 7 years

:?:

E. Normis Debtor
Posts: 20
Joined: Wed Mar 29, 2006 6:16 am

Postby E. Normis Debtor » Mon Apr 03, 2006 4:31 pm

Assuming your inquiry is about typical credit card account or similar loan, and not a tax lien, judgment, etc.

The 7 year reporting period begins on the date the account first became delinquent, was never brought current, and that delinquency led to collection activity or charge off.

Nothing, including payments, promises, etc, can change or extend that date. It must drop off your reports 7 years after the date of first delinquency.

The FCRA considers 180 days from the date of last delinquency as a mandatory charge off date if the OC has not pursued collection or reported a charge off.

EDIT: Appears ladyinred and I posted at the same time. Her response is accurate.

HelpMe2006
Posts: 214
Joined: Sat Feb 25, 2006 5:46 pm

Postby HelpMe2006 » Mon Apr 03, 2006 4:51 pm

[quote="LadynRed"]Judgments can stay for 7 years OR until the statute of limitaions on the judgment itself runs out - so that CAN be a very long time in some states.

:?: