@RCFL wrote:So, i have read somewhere that said some record on the CR will automatically falls off at the 7 years mark. Is this true? It applies to bad and good accounts closed in good standing? I have a few accounts that I closed it myself and the "DATE OF LAST ACITIVITY were in 2006 - If this is true, shouldn't this account be off my record?
The FCRA states that negative items cannot antedate the report more than 7 yrs +180 days from the DOFD, if any accounts report negative past this limit then you would dispute them as obsolete. Closed good accounts will stay on record up to 10 years post close month, if you have a closed account that has negatives and you brought it current and kept it current prior to close the negative aspect of the account(s) will be gone in 7 years and then it becomes a positive till it ages off.
@gdale6 wrote:
@RCFL wrote:So, i have read somewhere that said some record on the CR will automatically falls off at the 7 years mark. Is this true? It applies to bad and good accounts closed in good standing? I have a few accounts that I closed it myself and the "DATE OF LAST ACITIVITY were in 2006 - If this is true, shouldn't this account be off my record?
The FCRA states that negative items cannot antedate the report more than 7 yrs +180 days from the DOFD, if any accounts report negative past this limit then you would dispute them as obsolete. Closed good accounts will stay on record up to 10 years post close month, if you have a closed account that has negatives and you brought it current and kept it current prior to close the negative aspect of the account(s) will be gone in 7 years and then it becomes a positive till it ages off.
Sometimes you will get lucky and account just fall off a couple of months early but don't depend on it.
