7 years from the DLA for "negative" accounts, and 10 years for accounts "in good standing".
You get closed accounts removed from your credit report in the same manner as any other information. You write a letter of dispute to the creditor, or credit bureau, or both. The question is; why do you want closed accounts removed from your credit? If these accounts were paid as agreed, their appearance on your credit report is still offsetting any other information that appears there. I have clients with closed, 6-10 year old, accounts and active derogatory accounts that still have viable credit scores. Were they to challenge and have removed the closed accounts, they would have no score at all, which can be worse than having a low score. Keep in mind that your credit report, and the resulting credit score, is a history of how you have paid your bills in the last 7 to 10 years. You do not necessarily want that history to be empty.
If your question pertains to closed, positive, accounts; you do not want tyis type of account removed (or more accurately, shielded from view) on your credit file. Old positive accounts still show past payment history. If these accounts were open, they would be aiding your credit score by lengthening the time you have had open credit. But, even when closed, they show past credit history. This is good thing, and not something want removed. If your question pertains to accounts with derogatory information; those items may legally show on your credit for 7 years from the date of last activity. After 2 to 4 years, you can write a letter of dispute to the credit bureaus. If the accounts are not verified within 30 days, they must be shielded. If verified, they will not only remain on your credit report, but also get updated. This won't change the length of time they show on your report, but MAY effect how much they impact your score.
A great place to start is your credit report. It will generally list all credit accounts you have had - even if they have been closed - along with the name and address of the account holder.
It's difficult to give a specific answer w/o knowing what type of transactions the accounts were. If they were paid in full it will be noted something similar to "paid as agreed." But will remain on the account until closed and the time limit expires. If they were accounts that were in default they would perhaps be noted "satisfied and/or settled". Defaulted accounts will remain for the entire seven years or possibly more if they involved a judgment. Not all accounts are entered (or even have the same information) on all credit reports. Which is why consumers should make it a habit to inspect their credit report a minimum of once a year, preferable every six months.
I just got my credit report from Equifax and it had all the creditors addresses (open and closed) included when I viewed the details of my accounts.
You get closed accounts removed from your credit report in the same manner as any other information. You write a letter of dispute to the creditor, or credit bureau, or both. The question is; why do you want closed accounts removed from your credit? If these accounts were paid as agreed, their appearance on your credit report is still offsetting any other information that appears there. I have clients with closed, 6-10 year old, accounts and active derogatory accounts that still have viable credit scores. Were they to challenge and have removed the closed accounts, they would have no score at all, which can be worse than having a low score. Keep in mind that your credit report, and the resulting credit score, is a history of how you have paid your bills in the last 7 to 10 years. You do not necessarily want that history to be empty.
It is considered a derogatory mark on a consumer's credit report to have the notation "closed by credit grantor" rather than "closed by consumer".
only like 5 months -andrea It must depend on the type of credit report. My 2007 CSC Mortgage Services report has credit card accounts on it that I closed in 1997. No late payments, no negative marks. Just listed there as a closed account. -Lee
If your question pertains to closed, positive, accounts; you do not want tyis type of account removed (or more accurately, shielded from view) on your credit file. Old positive accounts still show past payment history. If these accounts were open, they would be aiding your credit score by lengthening the time you have had open credit. But, even when closed, they show past credit history. This is good thing, and not something want removed. If your question pertains to accounts with derogatory information; those items may legally show on your credit for 7 years from the date of last activity. After 2 to 4 years, you can write a letter of dispute to the credit bureaus. If the accounts are not verified within 30 days, they must be shielded. If verified, they will not only remain on your credit report, but also get updated. This won't change the length of time they show on your report, but MAY effect how much they impact your score.
Most accounts that have been closed stay on your credit report for at least 7 years from the time it was closed out.
A great place to start is your credit report. It will generally list all credit accounts you have had - even if they have been closed - along with the name and address of the account holder.
It's difficult to give a specific answer w/o knowing what type of transactions the accounts were. If they were paid in full it will be noted something similar to "paid as agreed." But will remain on the account until closed and the time limit expires. If they were accounts that were in default they would perhaps be noted "satisfied and/or settled". Defaulted accounts will remain for the entire seven years or possibly more if they involved a judgment. Not all accounts are entered (or even have the same information) on all credit reports. Which is why consumers should make it a habit to inspect their credit report a minimum of once a year, preferable every six months.
I just got my credit report from Equifax and it had all the creditors addresses (open and closed) included when I viewed the details of my accounts.
A foreclosure will typically remain on your credit report for seven years.
The date when the derogatory account is going to be removed from your credit report is known as the FCRA Compliance Date. Most derogatory accounts remain on your credit report for 7 years. Although there are exceptions. Chapter 7 bankruptcy accounts will remain on your credit report for 10 years. A tax lien may report indefinitely. You can try to have the accounts removed before the FCRA Compliance Date by contacting the credit bureaus, collection agencies, and original creditors. If you don't know what you are doing you will need to do quite a bit of research on how this process works, or you may hire a professional credit repair company to help you.
no, it should stay on your credit report for life.
I've seen accounts listed for years. A bankruptcy will stay on for 10 years. If you have an account that is paid and closed and you want it off of your report you can dispute it with the major credit reporting agencies.