Re: Credit Report Question

Posted by LadynRed (199.91.33.254) on February 11, 2003 at 15:47:52:

In Reply to: Credit Report Question posted by Cindo on February 11, 2003 at 14:42:16:

R1 is GOOD. You want to leave old R1's on your CR, it shows longevity of your credit history and its positive, leave it on there.

*Negative* items stay on your CR for 7 years:

"(c) Running of reporting period.

(1) In general. The 7-year period referred to in paragraphs (4) and (6)(2) of subsection (a) shall begin, with respect to any delinquent account that is placed for collection (internally or by referral to a third party, whichever is earlier), charged to profit and loss, or subjected to any similar action, upon the expiration of the 180-day period beginning on the date of the commencement of the delinquency which immediately preceded the collection activity, charge to profit and loss, or similar action. "

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