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7 years is the reportable limit for normal tradelines. Bankruptcies stay on for 10 years.
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∙ 14y ago
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I paid a collection account off in full and it is showing refinanced or renewed. Is this good?
No it is not good. Any negative entry on your credit reports is a bad thing and can affect your score.
If you offered to pay in full in exchange for negative information being taken off your credit report why would every collection agency you owe say they cannot remove the information?
Valid negative entries on credit reports cannot be removed until the time limit for expungement is reached. Creditors/collection agencies CANNOT remove the entry. Companies that claim they can clear a credit report of valid negative information that has not exceeded the prescribed time limit (usually 7 years) are, quite frankly, lying.
Do debts or loans on your credit report such as medical bills get erased within 10 years even if you do not pay them off?
Negative entries on your reports, except for bankruptcies, can only be reported for 7 years +180 days from the date of first delinquency that immediately preceded placement for collection and/or charge-off. If there are negative entries that are beyond this period, dispute them as obsolete with the credit bureuas.
Can a creditor remove a charge off?
Yes, a creditor can remove a charge off from your account and your credit reports. Credit bureaus can also delete charge offs from your credit report if they are disputed and not verified.
Can you have closed items removed from your credit report so the negative stuff is off or must you wait the seven years?
Closed payment history stay on your reports seven to ten years depending on what it is. Nothing can just be erased.
If a credit card was charged off 5 years ago and has since been sold to 4 collection agencies and each has reported it as bad debt do all 5 reports affect your credit or is it seen as one trade line?
All 5 reports affect your credit. Companies look at the number of negative reports on a persons credit. The number of reports will affect your credit score. Companies do this in order to: a) Get their money b) basically persuade you to pay the balance.
How long does it take for items to drop off your credit credit cardscharge offsrepos?
Negative entries stay on your reports for 7 years + 180 days from the date of first delinquency that immediately preceded placement for collections and/or charge-off.
Can a negative balance of a checking account that was later charged off in a house at a credit union be reported on a credit report?
Yes. You violated the terms of the financial agreement and as such are demonstrating your irresponsibility as a credit risk. That is the purpose of credit reports to a credit bureau. It exists to report your history as a credit-worthy individual.
I paid a collection account off in full and it is showing refinanced or renewed. Is this good?
No it is not good. Any negative entry on your credit reports is a bad thing and can affect your score.
Do you have to pay collection accounts dropped off credit reports?
no you do not
If you offered to pay in full in exchange for negative information being taken off your credit report why would every collection agency you owe say they cannot remove the information?
Valid negative entries on credit reports cannot be removed until the time limit for expungement is reached. Creditors/collection agencies CANNOT remove the entry. Companies that claim they can clear a credit report of valid negative information that has not exceeded the prescribed time limit (usually 7 years) are, quite frankly, lying.
Can I get closed accounts that have been on my credit report for the past 16 years off by writing to the to the bureaus?
Yes, just dispute them as too old to be on your report. Closed positive information reports for 10 years and negative information reports for 7 years.
How do you get your ex-husbands bad credit record off of your credit reports?
You don't. You're screwed. Welcome to the world.
Do debts or loans on your credit report such as medical bills get erased within 10 years even if you do not pay them off?
Negative entries on your reports, except for bankruptcies, can only be reported for 7 years +180 days from the date of first delinquency that immediately preceded placement for collection and/or charge-off. If there are negative entries that are beyond this period, dispute them as obsolete with the credit bureuas.
How do you get closed accounts off your credit report?
They don't fall off if they were closed satisfactory by either you or the creditor. If they are negative they typically fall off around 7-10 years. There is not a way to get them taken off outside of these guidelines unless you feel that they are fraudulent accounts, in which case you need to contact the credit reporting agencies...
Can a creditor remove a charge off?
Yes, a creditor can remove a charge off from your account and your credit reports. Credit bureaus can also delete charge offs from your credit report if they are disputed and not verified.
How do you get a pending transaction taken off a credit card?
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