How long do things stay on a credit report, and how often are the reports updated?

Answer 1

Reporting date for negative information on your credit report is 7 years, beginning on the date of the delinquency....NOT the last transaction date. People keep getting this confused with the Statute of Limitations laws.

Smile....you are wrong. For a collection agent I would think you were trained on the Fair Credit Reporting Act. Or am I missing something, since you did mention it "depends on details"? Can you enlighten me? I'm not as educated as a collection agent, or even a financial expert. Maybe even point me to a source for your info? That would be nice.

EDITED

Thank you Jesus....for sending us people like Smiley! He demonstrates exactly what I have been saying here for the past several months!

Lemme see...he doesn't like my cut and paste techniques for debating. Use my own words?? Why? What I posted in my source is the actual wording in the LAW! Are you telling me that you can't understand all this legal jargon and want me to translate it into 3rd grade English so you can better understand it? The law was quite clear. However I notice that instead of offering me a source of information, or explaining why my info is not correct, you choose to insult me!

Not sure of what you mean in your diatribe...but for your info, I haven't had a bill collector come after me for bad debts. My education came after I had my ID stolen and I spent several months fighting with people like you to clean my record. I had to take them to court (won $1200 for the trouble thank you very much...)

For your info, MOST collection agents do not follow the laws. If they did, we would not have the FCRA, FDCA, FAACRA, or any any of the other laws passed specifically for collectors. So don't even try that one, ok?

Tell me, Mr. Collector....why is it so hard for your industry to follow the law? It's spelled out very specifically! If you do exactly what you are supposed to do, you can collect your money every time! Send out the proper notifications, validate the debt, file your lawsuit, get your judgment, get your garnishment....what can be easier?

Why do you have to threaten and harass people?

And don't make assumptions about me. Feel free to send me an email and we can discuss my background. My dirty little secret is that I work for a rental company, and I have to go after delinquent accounts myself. I've actually had to sue several people! DOUBLE

So I certainly do know the laws. Every time I see one of your posts, you just make it more obvious that you don't.

If you don't like my cut and paste answers, please supply me with your own sources....hopefully something that refers to some actual laws and NOT out of your collection agency handbook, ok?

And Exempt....I notice that you also seem to shy away from offering any sort of sources to refute me.

Why is it that you folks who openly state you are bill collections never turn on your Email so we can discuss this stuff in private? You prefer for me to just point out your errors here in public? That works for me.

You say I'm wrong....please point out where I am wrong....offer me some sources......

The only advice you folks give is to pay up! Don't matter if you owe it or not, you are obviously wrong...just pay your bills. The people on Yahoo see through your nonsense, trust me.

My email is right there....if you you or Smiley wish to continue this sent me a note.

EDITED AGAIN...last time..promise...

Exempt....I get this vision of a little child getting caught in lie screaming "OH YEAH!!!! Well...um er..."

I find it terribly comical how you somehow find my cut/past wrong. I post the actual law from the United States Code......exactly as it's written so that I can not be accused of misinterpreting it...and you have to criticize me? Notice how yet another collection agent refused to give us ONE SINGLE SOURCE to refute my answers?

Just another "Oh YEAH!" response.

Dude...one last time. I do NOT teach people how to dodge debts. I teach them their rights.

You claim there is no handbook? I've SEEN it!!!!

Geez, go back through some of the past question/answers here...I have a "professional collection agent" from Washington who stated there is a professional organization of collection agents, and they publish a general set of guidelines that their members must follow. So one of us are lying! Wanna challenge me on this one?

If I send you a letter saying you owe me $200, are you going to send it to me? Of course not! You want to see something simple....like a bill or a contract...right? It that too much to ask?

But for some reason you don't think others deserve that right?

You claim I don't know collection laws...I'm nothing but a dweeb deadbeat ripping off creditors. Again you are wrong. You work for the creditors rights...I watch out for the debtors. Please don't make me laugh when you say you are only trying to help out these people on Yahoo with their problems!

If you want to swap war stories drop me an email. I see you have guts to post it so we can contact you...unlike Cobra. Maybe I can teach you a few things.

In the meantime....please respond to my request for your source that says I'm incorrect about my answer here. I'll even allow you to cut and paste something!

Answer 2

For the most part 7 years. But there are other things that can stay on longer. Bankruptcy for instance stays on now for 10 years. Credit reports are updated constantly by your creditors, but usually every 30 days or 60 days depending upon the creditor.

Answer 3

Something might be wrong here. Credit reporting agencies will report all your legal names, so don't worry about what 'order' they are in. Your file will be found when you apply for credit. Of concern is that you had no problems for years using your married name, and suddenly you have creditors that think you go by your maiden name. Perhaps someone is using your old name to apply for credit. You should check the possibility that your identity is being used fraudulantly.

Answer 4

up to 7 years and updated 30 t0 60 days

Answer 5

Lines of credit, collections & judgments 7-years. Bankruptcy's 10-years. Inquiries 2-years. Un-paid tax liens 15-years.

Answer 6

Studly is right and is not afraid to mention the statutes to prove it.

exempt001 - yeah, many collectors like to think there are ways around laws, since they constantly seem to try every which way they can to violate existing laws.
Especially when collectors like "you" consider the FCRA as just "some place on the net"

AND you claim that smile4 is right in everything she said - untrue

As for smile4 saying "Everything stays on your credit report for 7 years from your last payment." that is true in some cases, for instance a bank loan. But it is untrue in other cases.

For credit cards it is 7 years from the first time a person becomes 30 days late and never brought the account current leading to the charge off, for medical it is 7 years from the date of service, for repo's it is 7 years from the date the vehicle was sold creating the deficiency
In those cases they are NOT reported for 7 years from the "last payment"

As far as the comment about how often things get updated - it should not depend on the credit reporting agency to update or not update simply whenever they feel like doing it.
It should be done as soon as the data furnisher provides the updated info.

And as far as disputed info, it should be corrected or deleted, if unable to correct, "within" the legal time allowed. Which is "within" 30 days when using a paid report and "within" 45 days when using a free FACT-ACT report



exempt - All you seem to do is follow smile around and be a yes woman.

Your post is nothing but a very wordy and childish "we are better than you" diatribe where you seem to say the same thing over and over, and yes, over again - yawn.

But where in your endless ranting do you actually try to answer the OP's question - hmmmmm????
After wading through the answer of yours only to find there is absolutely NOTHING in your post that answers or even attempts to answer the question the OP asked.

You "claim" to know me but you don't. You are quite clueless on that aspect.
A person does not have to have the coveted (lol) title of collector to know and understand the laws. If you feel my answer to the OP is incorrect, then it is quite possible it is you who does not know or understand the laws

So, exempt, as you say "get real"



I just cannot believe it, you add more and more to your pathetic rant and you STILL FAIL to say even one thing that would answer the OP's question.
I guess it would be pointless at this time since the OP would have to try to find it throughout that extremely long off-topic novel you wrote.

It is "you" that assumes to much in saying what I have or what I have not experienced in my life. Dial down the ego huh.
Though I did get a good laugh at the "phone tech" dig. While I am not a "phone tech" I am in no way slamming the people who actually are.

As far as being hurt by your insults - nah doesn't work like that. To actually be hurt by what someone says to me would mean that the person is significant to me - 'nuff said on that.

You put words in my mouth when you "claim" I'm always slamming collectors - which I generally don't. I guess you see what only you want to see..........

I guess I do have to give your company kudo's for one thing - being the "only" company to "ever" have a 100% success rate in everything. Your words not mine - [quote] ...we have been successful in every lawsuit and every attempt to repair credit. [/quote]


You can continue to assume you know me, that since I am not a collector all I can do is cut and paste (that term is getting quite stale) without understanding.
You can continue to place words in my mouth.
You can continue to keep ranting, raving and rambling.
You can continue to keep saying the same thing over and over AND over.
You can continue to drag the thread off topic and ignore the OP's question all you want - the floor is open - since you seem to "think" it makes you look good - go for it

Go ahead and have the last word if you want, it's all yours. Because one thing that you will not continue to do - is bore me.

Answer 7

things stay on there for 7 yrs and are updated continuously

Answer 8

Studly your off. Smile is right in everything he said. Go read up a little more.

There are too many if buts and maybes that go around laws that govern collection agents, agencies and creditors. There are laws that go around laws!

Its more than a little line you got off some place on the net.
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Echo, you dont know smile4cobra at all. Glad he deleted his answer because you guys dont deserve to see responses from a professional. He takes time out of his day and gives helpful tips to people who are in trouble because he believe in justice and the door swings both ways if you ask us. He normally gets paid big bucks for credit counseling and managing but he is a nice and helpful guy.

Valid tips not a bunch of **** he highlights and pastes online. You can be a pro in every catagory here if you know how to search google. One of them cuts and pastes and the other translates whats been cut a pasted.

As Cobra said, you have to be a professional and be in the industry to understand all the if buts and maybes of each case and state, lawsuit, etc. If exact details of location and circumstances or question is not given to him he can not give you an exact answer, we can give you a general answer. Indeed the closest you guys ever got and will get to the credit industry is the credit catagory on the answers website.

Additionally, cobra is one of the best collectors and works for the biggest agency in the U.S. he takes time of his day and comes here to answer questions for people because he believes in justice. You do generalize bill collectors and agents. Not all of them are bad people and want to rip you off.

So what is the difference between you and a bad bill collector? A bad bill collector tries to make someone pay their by breaking the law while you go around teaching people to rip off creditors by being stupid and dispute accounts that are valid and **** themselves over by doing it?? cause it opens a lawsuit.

A good bill collector makes the person pay their bill without breaking the law and good people explain to the bill collector why they havent paid or what is going on and they make arrangements.

You will find that some bill collectors are also helpful.

If people didnt have credit than where would they be today? If it wasnt for creditors you would be driving your car or buying a house and if it wasnt for bill collectors, banks and creditors would be liquidated leaving your sorry ass with no roof over you head and no car to drive, unless you are rich and you dropped a PIF on your credit report when you got a house or car. heheh.

Get real.

People! Bill collectors/agents are not horrible people. There is a good and bad in everyone.

Do you know how many clients we have that surf the answers website that read your **** and confirm with us? How many clients we picked up and counseld, repaired their credit and did favors for??

If you dont know than shut it and dont just assume.

We understand the cut and paste if you knew anything you would know that Collection Agents are certified and been through the FDCPA and all that. lol anyone can look it up on the net a quote it.

The point of us saying its a cut and paste is because we know that you dont understand it. You just cut and paste it cause you dont know what your talking about if you did you would use your head and memory to remember laws and give your knowledge. The net data base is not your knowledge.

We dont need to copy and paste anything because when we speak we speak off of what whe know. That is not open for negotiation as we have been successful in every lawsuit and every attempt to repair credit.
As for you...you are not a credit profession and you know nothing that is why you copy paste and quote things.

By the way...collection agencies dont have hand books. Dont go off and assume things and talk about them as if you been in a collection house all your life. You dont even know how operations work. Employees hire trained collectors or certified agents and you dont know the difference between either. Any collection agency that practices incorrectly does not remain in business. Obviously, lawsuits go to court and what is the law is the law. The judge rules. Stubs or echos or anyone else.

For your information, the unfortunate thing about laws here in America is that they contradict eachother. There are laws that go around laws and there is the condition and situation of which the plaintiff is in that is also considered. But you never been in court so you dont know about that either. Do you think the judge is stupid when the debtor shows up with his side and proof or the agent shows with his side and proof? If you think your smarter than a judge than I dont know what else to say.

Collection agencies that generate millions of dollars a year do not continue to employ agents or collectors that break laws. If the management finds out they handle business. Because that chump change that one person owes is not worth the risk.

You can not relate because you do not know what you are talking about. We are people that been there, done that and do it everyday for 8-10 hours. You are people who cut paste, have no experience and no knowledge.

I worked with Cobra for 6 years and never saw foul play, he remains in the same agency and is an asset to the company. Like I said the biggest agency in the US, a non-profit agency might I add before you go rippin another asshole in yourself saying "I wonder how they got big". This agency represents debtors and creditors. Not only in collections but credit management, repair and credit counseling. Cobra conducts nation wide webinars. Who are you to judge?? And this muliti-billion dollar company believes that Cobra is indeed an asset because of his ability to adapt resolve credit issues sufficiently. Your a phone tech and your judge professional credit managers in their duty? You teach people that credit professionals are filth. Infact he who cheats and condons cheating is filth.

Telling someone about their rights is one thing attempting to teach people incorrectly on how to be cheators is another.

So I ask you, are you smarter than a judge? Cause no judge caught us cheating. Or are you smarter than multi-billion dollar company who has employed and assesed the individual as such?

Cobra never said you are incorrect, he said you dont know ****. The information you give out is off the net. And on other questions you telling people to request validation on valid debts is not the best advise. That makes creditors think you are playing with them because they know you know its your debt. That causes lawsuits for people. He is correct in that.

You are the one who said he is incorrect.

So you hadnt been in collection before...oh so you never even talked to bill collectors??? So where do you get off telling people bill collectors are bad people? So than you dont have experience doing the job or communicating with these people or anything. lol very entertaining.

Your but hurt cause you got insulted by me? But when you talk down collectors dont you think thats an insult to he who is a collector???

Its useless talking to someone who does not understand. You will again come back with some BS to say. You are not a professional, you have never had hands on and what you have to say does not matter. No explaination covers what experience does.

By the way, I have successfully removed a BKC off a credit report after 7 years.

I never told people that have to pay up if they owe it or not. I said why request validation for a account that they do owe and they know?? Every person has a right to file a dispute for accounts not owed. Dont put words in collectors mouths if you never even talked to a collector before. That is not what they say. Dont go an assume things you dont know.

******** by the way your little call center job had nothing to do with actual bill collectors. The reason why there are laws is because back in the days bill collectors used to show up at your house. That was way back when people werent even civilized.

Why dont you email Cobra instead. I said what I need to say. [e-mail] and Cobra says....Bring it.

As Cobra said, not worth the time. Cant take a doctor and turn them into a lawyer. Cant take a lawyer and turn them into a doctor, just do your thing and do go back to chat with those who just dont get the point. That is pretty good advise.

Good Luck to you.