How long does a collection affect you?

[jru577]

I had a medical bill go to collections in May of 2003. I paid it in Aug 2003. But it only started reporting in 2005. Will this fall off 7 years from 2003? or 2005?

THanks!

[Anonymous]

7.5 Years. From date of first major delinquency... Usually from the 90 day past due mark. If you paid it off while in collection without a PFD arrangement it will stay 7.5 years from the date of PIF.

Rob

[Anonymous]

If you request a copy of your EX report there is a field below each TL that will tell you when it is due to fall off the report.

Rob

[Tuscani]

(1) In general. The 7-year period referred to in paragraphs (4) and (6)(2) of subsection (a) shall begin, with respect to any delinquent account that is placed for collection (internally or by referral to a third party, whichever is earlier), charged to profit and loss, or subjected to any similar action, upon the expiration of the 180-day period beginning on the date of the commencement of the delinquency which immediately preceded the collection activity, charge to profit and loss, or similar action. [/quote]

http://www.ftc.gov/os/statutes/fcra.htm

In legalese, that means that an account reports 7.5 years from the date it goes bad, period. Paying shouldn't reset it.

http://ficoforums.myfico.com/fico/board/message?board.id=generalcredit&thread.id=8713