Some parts are pretty good. Some seem to be a fantasy ("You don’t have to ask the CRAs to remove information that should no longer be report. It should happen automatically.") http://finance.yahoo.com/news/often-does-credit-report-change-110027429.html
You know, that statement had me thinking. I know that there is a statutory requirement to remove bad data in 7.5 years, but is there a statutory requirement for positive data to be removed in 10 years? Or is the 10 years a CRA "policy"?
I recently had few positive TLs age off since they were 10 yrs old since closed. And it sucks =( I want my TLs back lol!
I have some good TLs that were paid off over 10 years ago. If they want to just hang around on my CR, so be it!
In my experience, car loans from GMAC/ALLY tend to stay for extended periods of time, up to 15 years.. It's great until they do finally fall off.