7 Year negative information....
Date: Tue, 02/06/2007 - 15:22
When does the 7 year clock start? Is it 7 years from first reported? Or seven years from charge off?
Also, if something is being reported that is well over the seven year mark, then what are my options?
Thank you!!
It is my understanding that the 7-year time period starts from t
It is my understanding that the 7-year time period starts from the date of last activity, which would be the acct. being charged off.
If something is being reported, and the acct. is over 7 yrs. old, you can dispute the item with the credit bureaus, and or send a debt validation letter to whomever is still reporting the acct., if it has gone to collections.
Date of last activity in the CR keeps changing with every paymen
Date of last activity in the CR keeps changing with every payment missed.
The seven years time period starts from the first delinquency only. In some case, it's between 8 to 10 years as per the state laws. The CRA will automatically remove the negative information once the item is past the seven years from the date of first default. Accounts with positive reporting can stay for longer period.
Highlight the incorrect item and dispute it with the CRA. They will run an investigation with the data furnishers and update your file.
Read this link for useful info on credit repair. http://www.
Read this link for useful info on credit repair.
http://www.debtconsolidationcare.com/credit-repair/creditscore-info.html
