2007-01-12 06:39:09 · 5 answers · asked by Bless 1 in Business & Finance ➔ Credit
According to the FCRA, Section 605(c), the "running of the reporting period" is 7 years from the date of 1st delinquency, + 180 days. For example, if you took out a loan on 1/1/2000 and never made a payment, it can only remain on your report until 6/1/2007.
Whatever you do, don't pay on debts over 2-3 years old. It won't help your credit (a paid charge off is still a charge off) and for the most part companies don't expect to collect on those debts.
2007-01-12 07:13:07 · answer #1 · answered by Kevin K 3 · 0⤊ 0⤋
Its usually seven years from the date of last activity, but some creditors will keep reporting even though there has been no new activity on the account. If things stay on past that period, you should contact the credit reporting agency and notify them that the account is valid, but that there has been no activity for the required period.
2007-01-12 14:43:58 · answer #2 · answered by Robert A 2 · 0⤊ 0⤋
Well, about 7 years. I know this because that is how long it was for me. Unless you pay it or fix it . Than possibly 3 months at the most provided they updated the report. That is why you need to check it frequently. Many times you need to review and speak with whoever is reporting those facts. They will tell you what you need to do to fix it.
2007-01-12 14:47:49 · answer #3 · answered by ENCHANTRESS ROSE 2 · 0⤊ 0⤋
some things will stay on for longer than 7 years depending on if the reporting agency keeps updating it. your credit report should have a date on each file that states how much longer it will remain on your report www.annualcreditreport.com try it out
2007-01-12 14:44:38 · answer #4 · answered by Anonymous · 0⤊ 0⤋
I believe for late credit card payments, it stays on for approximately 3 years.
I live in CA, don't know if that differes anywhere else.
2007-01-12 15:46:06 · answer #5 · answered by Anonymous · 0⤊ 0⤋