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I had a auto loan close in 2006. How long is it going to show uop on my CR? I thought 7 years. Its not due to remove until 2016. Is this correct?
That is correct. All positive accounts will stay on your credit report for 10 years from the date you close them.
The OC account will remain either until the creditor chooses to report its deletion, or the account has been closed for approx. 10 years, at which point the CRA might exercise its arbitrary policy of deletion as their internal housekeeping measure.
The deletion at 7ísh years would apply only to any adverse items reported on the account.
Were there any repoted derogs, such as monthly delinuencies or a charge-off or collection?