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Then why should you get to count your good history beyond 10 yrs ago?
Discuss.
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I am not sure what is meant by being able to "count your good history."
If the presence of a prior collection or BK becomes excluded from your CR, it means that others wont be able to become aware of those adverse items by a simple pull of your CR. Credit report exclusion does not negate the debt, it merely prohibits the CRAs from disclosing those adverse items in credit reports they issue. It's a partial shield.
However, those old events still exist. And exclusion of a collection does not mean that the unpaid debt can no longer affect your credit history.
While the collection is still being reported, and a debt balance is still shown, it is readily apparent to one reviewing your CR that you have unpaid, delinquenct debt.
Upon exclusion of the collection, that clear statement is no longer present, but if the OC account is still present, one might still question the ultimate status of the debt on that account. Additionally, in any app for new credit, you may be asked if you have any unpaid, delinquent debt Credit report exclusion of the collection would not be basis for answering no.
Credit report exclusion does help your score, but score alone is not necessarily a reflection of your total credit history, good or bad.
Any discovery of those prior events could, in and of themselves, impact your credit.
@oscar_actuary wrote:Then why should you get to count your good history beyond 10 yrs ago?
AFAIK you don't unless the accounts are currently active. Positive closed accounts also fall off.
Positive, closed accounts will report for up to 10 years from the closed date. Where there is law that says when negative information can report for a speciific amount of time, there is no such law or regulation for postive accounts.