How long does the negative information stay in your credit report after it has been paid?

Question

I have a negative account on my credit report that is affecting me in a negative way. This was reported way back in 2001 and I paid the account in full in 2002 but the bank continued to report that it was unpaid till I recently disputed with them. They finally changed it from unpaid to paid after a charge off. I really want this information removed from my credit report since its so old. I have asked the credit buraus to remove this three times but they have not done it. What are my options at this point? Please tell me what I need to do to get this peace of information removed from my credit report. Thanks

Answer 1

Celeste is correct, it will be removed 7 years from the date of delinquency. Paying it off does not reset the 7 year reporting period in this case. So sometime in 2008 is when it should be removed. The exact month will be based on the month in 2001 that the delinquency occured.

If you had this much trouble getting them to mark it as paid. You need to follow up on this next year. There is a very good chance that they have made an error in the date of delinquency and it may not come off when it should without you disputing it.

Answer 2

It would be 7 years from the date of the delinquency that led to the charge off.
If you missed a payment in '01 and never made another payment, which led to the account to be charged-off, count 7 years from the delinquency date. So be looking for it to disappear sometime in '08.
It makes no difference that you paid the charge-off.
Just be patient.

Answer 3

It will be marked as paid but still remain on your credit report for 7 years from the last transaction, in other words if you paid it in 02 will be on until 09. Should of gotten a written agreement with them that if you paid it off they would remove without it they are under no obligation to remove it

Answer 4

i think of the seven years starts once you confirm the project. in case you have an unhappy judgment or college own loan that continues to be unpaid, i won't have self belief this could be wiped off your credit rfile for the reason which you have been clever adequate to stay sparkling of the criminal accountability for seven years.

Answer 5

7-years from the date you paid it.

Answer 6

seven years from the date u paid it off