2007-01-20 17:48:45 · 3 answers · asked by lmg 1 in Business & Finance ➔ Credit
From the date of posting the credit information.
2007-01-20 17:52:05 · answer #1 · answered by Anonymous · 0⤊ 0⤋
Depends on what type of account.
->Regular account in good standing that's closed - 7 years from last activity
-> Collection account - 7 years from last activity
->Judgment - 7 years from the date that it was satisfied or statute of limitation (depending on where you live)
->Repossession - date from last activity
Some people think that if a collection account is sold over and over again the 7 year rule renews itself b/c transferring the debt is considered 'activity'. Not true.
Hope that helps!
2007-01-21 11:38:50 · answer #2 · answered by YSIC 7 · 0⤊ 0⤋
7 years from the last activity.
If a creditor or agency contacts you about a 6 year old debt and you respond to them, your credit will be affected for another 7 years.
2007-01-20 17:52:53 · answer #3 · answered by Anonymous · 0⤊ 0⤋