OC accounts are not deleted based on expiration of a credit report exclusion period. What occurs is that any individual adverse item of information reported under the account becomes excluded from your credit report. Monthly delinquencies become excluded after 7 years from their individual dates of occurence, and a charge-off becomes excluded after 7 years plus 180 days from the DOFD on the account. Those dates affix credit report exclusion, and there is no reset based on later communications, disputes, etc., with the creditor. Statements that later activity resets those exclusion dates is incorrect.
What OC delinquencies are reported?
Collections are excluded after 7 years plus 180 days from the DOFD on the OC account.
Letters to the creditor must assert some basis of inaccuracy in their reporting in order to qualify as a dispute, so your letter must provide some basis for asserting inaccuracy. Yes, they must verify the accuracy of their reporting, but they dont have to provide documenatation, or prove the accuracy of their verification, so in most cases, they will verify.
The first question is whether you have basis for disputing the accuracy of what is currrently being reported, not whether you do it yourself or use a credit repair organization. If you do have a disputable issue, a credit repair organization can assist or file a dispute on your behalf through a CRA, but if you file a direct dispute with their assistance, it can be dismissed.
