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Re: Credit Report


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Posted by kb9tbq (209.251.110.18) on January 06, 2003 at 19:58:47:

In Reply to: Credit Report posted by Jaylin on January 06, 2003 at 16:41:08:

All creditor information has an expiration date (how long they are allowed to show on the credit report). This varies by the status & dates on the accounts.

1. Positive info - paid as agreed, will stay 10 years.

2. Negative info - delinquencies; collections; charge offs; judgments; chapter 13 bankrupties, will stay 7 years.

3. Chapter 7 bankrupties, will stay 10 years.

4. Tax lein may stay on forever if unpaid - 7 years if paid.

Negative info depends on the 1st delinquency leading to the final status. Add 180 days (charge off date) plus 7 years to figure the expiration date.

Judgments & Bankrupty will go 7 or 10 years from the discharge date.

If there is an account that is open and had a delinquency date, if after 7 years from that date & the account is still open the reporting of the delinquency will expire off of the reporting.
If you close the account before this time, then it will go 7 years from the paid off date and the delinquency will be froze till then when the whole of the info expires. This is for original creditors.

Also the inquiries stay 2 years (showing all creditors that either had your permission or permissible purpose to pull a copy of your credit report). Means either you were applying for credit / service or you owed money to them.

Hope this helps.


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