jbh wrote:
The ca will go away instantly when paid (NY 5 year law for paid ca's).
To be absolutely clear, here is the law:
§ 380-j. Prohibited information.
(f) (1) Except as authorized under paragraph two of this subdivision,
no consumer reporting agency may make any consumer report containing any
of the following items of information. (i) bankruptcies which, from
date of adjudication of the most recent bankruptcy, antedate the report
by more than fourteen years;
(ii) judgements which, from date of entry, antedate the report by more
than seven years or until the governing statute of limitations has
expired, whichever is the longer period; or judgments which, from date
of entry, having been satisfied within a five year period from such
entry date, shall be removed from the report five years after such entry
date;
(iii) paid tax liens which, from date of payment, antedate the report
by more than seven years or, a paid, satisfied or vacated tax lien
involving a purchaser, transferee or assignee in a bulk sale transaction
who has been deemed liable by the state tax commission for sales taxes
due from a seller, transferrer or assignor under subdivision (c) of
section eleven hundred forty-one of the tax law, where the receipt by a
credit reporting agency from such purchaser, transferee or assignee of a
notice, or true copy thereof, from the state tax commission to such
purchaser, transferee or assignee that his liability has been wholly
paid or satisfied or no longer exists, antedates the report by more than
thirty days;
(iv) accounts placed for collection or charged to profit and loss
which antedate the report by more than seven years; or accounts placed
for collection or charged to profit and loss, which have been paid and
which antedate the report by more than five years;
(v) records of conviction of crime which, from date of disposition,
release, or parole, antedate the report by more than seven years;
(vi) information regarding drug or alcoholic addiction where the last
reported incident relating to such addiction antedates the consumer
report or investigative consumer report by more than seven years;
(vii) information relating to past confinement in a mental institution
where the date of last confinement antedates the report by more than
seven years; or
(viii) any other adverse information which antedates the report by
more than seven years.
(2) The provisions of this subdivision shall not apply to:
(i) a credit transaction involving, or which may reasonably be
expected to involve, a principal amount of fifty thousand dollars or
more;
(ii) the underwriting of life insurance involving, or which may
reasonably be expected to involve, a face amount of fifty thousand
dollars or more; or
(iii) the employment of any individual at an annual salary which
equals, or which may reasonably be expected to equal twenty-five
thousand dollars, or more.
Message Edited by jmbfl on
09-22-2008 05:40 PM