...until Sept 2009 (for example). So, does that actually mean that in Oct 2009, this entry will not appear? Or, will the creditor have some other way to keep it on there?
2007-05-26 09:47:26 · 4 answers · asked by geckosgirl 2 in Business & Finance ➔ Credit
If it is a negative then it will drop off in Sept 2009.
Re-aging is a violation and there is no legal way that a creditor/collector can keep it reporting for longer than the required time.
2007-05-26 09:55:41 · answer #1 · answered by echo 7 · 0⤊ 0⤋
The reason that the information is listed that way is a complicated answer. In short the Federal Trade Commission issued a ruling regarding when negative information should be eliminated from a credit report. Court decisions of varying results were given but in 2003 Congress passed the Fair and Accurate Transaction Act (FACTA) which stated that negative information is removed via certain categories and the computers of the credit bureaus are able to set a time in advance of when it will be removed.
Hope that answers your question
2007-05-26 11:09:34 · answer #2 · answered by teenriodoll 3 · 0⤊ 0⤋
till there's a disaster the position you may want to freshen up your credit status actual quickly, then in basic terms take a seat tight and enable the judgement fall off your credit rfile evidently next 365 days. Paying the judgement off gained't restart the clock and upload yet another 7-10 years...notwithstanding, you will get an unsightly wonder in case you renew contact with even with series organization has this account....Many series agencies are fairly aggressive and in case you call them up you could set off aggressive series pastime antagonistic to your self. i might want to propose to take a seat tight and do not some thing. if you're going to pay besides...then save all communique in writing....Get a signed contract contract before you pay...once you get this letter, deliver them a USPS money order.
2016-11-27 21:24:51 · answer #3 · answered by thetford 3 · 0⤊ 0⤋
it simply means this credit account will be on your history until that date...now if you have good credit that cool but if you have not so good credit that aint so good now is it?notice what date they put on an entry for bankruptcy or chaper 13,they dont..know why? because a court order is a public record...oops
2007-05-26 09:57:29 · answer #4 · answered by Anonymous · 0⤊ 0⤋