Need Help understanding my Credit Report

Date: Wed, 04/23/2008 - 10:59

Submitted by hevnly_chick
on Wed, 04/23/2008 - 10:59

Posts: 201 Credits: [Donate]

Total Replies: 4

Ok so I just obtained my 1st copy of my credit report, and I am so confused! Im looking at it online and I printed it out.

My #1 question is how long can something stay open on your report?

#2 Why do I have the same item listed as closed with 2 out of the 3 but the 3rd is still open??

#3 What do I need to send these companies to have them remove my OLD Closed accounts off my report?

I have a few CC's that were opened in 2000 or 2001 status closed because they sent to Collections the collections are still showing open but shouldnt the CC's be deleted?

Interesting questions??????? and I must say they are my

Interesting questions??????? and I must say they are my absolute favorites. Hence, let me take the privilege to answer them before anyone else does.

Quote:

#1 question is how long can something stay open on your report?

Any negative information-accounts under collection, charged-off, judgments and such will stay on your report for seven years.
Bankruptcy will keep appearing on the report for ten years from the day of the judgment.
Any other debt that hasn????????t been reported to the collection agencies or the creditor hasn????????t bothered to collect it otherwise will disappear from the report after seven years.

Quote:

#2 Why do I have the same item listed as closed with 2 out of the 3 but the 3rd is still open??

That????????s so because the creditors aren????????t always responsible to report to all the three credit bureaus. It may also happen because the bureaus don????????t update their reports at the same time. It????????s not an alarming situation.

Quote:

#3 What do I need to send these companies to have them remove my OLD Closed accounts off my report?

Contact the original creditors of those old accounts. When an account is closed the creditor is responsible to report its updated status to the bureau.

Quote:

I have a few CC's that were opened in 2000 or 2001 status closed because they sent to Collections the collections are still showing open but shouldnt the CC's be deleted?

Yup they should???????.in this case you need to dispute it with the information provider (creditor/collection agency) and also with the credit bureaus in writing with all the supporting documents.