closed credit accounts? but the creditors are still repoting to credit agency?

Question

I have 2 accounts that were closed over 2 months ago. they were paid off way before i closed them but i see on my credit report that they are still reporting, of course they says the payments are current and account is satifactory but, why are they still reporting this. i under stand those account will be on my report for a number of years but they shouldnt still be reporting right. I have other accounts on my report that have been closed and have not been reported since being closed. i just need to know if this is ok and is it hurting my credit

Answer 1

Closed accounts in good standing will continue to show for 10-years. Derogatory accounts drop off 7-years from the date of first delinquency or 7-years and 180-days.

If the accounts are in good standing, they are helping you not hurting you.

Additional details.

I guess I will have to post this a thousand times but debt to income and available credit have nothing to do with credit score.

The only things that count are;

1. Payment history 35%
2. Time in bureau 15%
3. Types of credit 10%
4. New credit 10%
5. Debt to credit ratio 30%

Answer 2

Spifman is correct --but if they are closed then they have an obligation under the Fair Credit Reporting Act to show the accounts as closed. Also potential creditors may view these accounts as funds available and they may count them even with no balance into your debt to income ratio.

Answer 3

You can get a credit report restoration for $500 at http://www.credit-report-repair.us

Answer 4

Once again spiffman is on course. Listen to him, and don't worry about it.

Answer 5

get on the phone...to the creditors and the credit bureau