Old student loan drop off dates wrong, should I dispute?

[dapps06]

I consolidated most of my student loans in April of 2005, turning six individual loans into one. These six loans recently dropped off my Transunion report, but are still listed on EX and EQ.

On my EQ report they correctly show as dropping off this month, should be any day now. However, on my EX report it shows an erroneous drop off date of 12/15 for all six loans, stemming from a close date of 12/05 which should be 4/05. Because I like my reports as accurate, and clean, as possible, is it crazy for me to call and dispute the dates so that these six accounts correctly drop off this month?

I'd rather everything be updated correctly, and take the AAoA hit now to see what it will do to my score, if anything, than wait until December. Am I being too OCD about this?

[Anonymous]

Why would you be in a hurry to remove positive history from your reports? Clean reports (meaning, little on them) is not a desirable outcome. If you want good credit, you want as much positive info on your reports as possible.

[SCF]

Positive closed accounts generally remain on your report for 10 years, but there isn't actually a requirement for them to remain that long, or to be removed at exactly the 10 year mark.  I would let the account (and its positive effect on your AAoA) stay as long as it will.

[dapps06]

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@Anonymous wrote:

Why would you be in a hurry to remove positive history from your reports? Clean reports (meaning, little on them) is not a desirable outcome. If you want good credit, you want as much positive info on your reports as possible.

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Mainly because I have seven other closed student loans, four that drop off in June of next year and three that I just consolidated in February that will be around for another 10 years. I also have an old auto loan opened in October of 2005 that stays until July of 2017. I figured removing these accounts wouldn't do much harm because of these older accounts. As I said, on TU the accounts have been removed already and that's my highest score with all other accounts exactly the same as EX and EQ. Think I'm gonna go calculate my AAoA, now I'm curious.

[MarineVietVet]

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@SCF wrote:

Positive closed accounts generally remain on your report for 10 years, but there isn't actually a requirement for them to remain that long, or to be removed at exactly the 10 year mark.  I would let the account (and its positive effect on your AAoA) stay as long as it will.

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I agree. If you're lucky they will continue to report past the general 10 years. It doesn't happen often but it does occur.

I'm one of the fortunate ones. I have a single account that was closed in 1998 but is still reporting.

[RobertEG]

As intimated by others, it is unclear as to what basis you are asserting for older accounts to "drop off" of your credit report, and thus what is the basis for any dispute of accounts that remain in your report?

Derogs have credit report exclusion dates under FCRA 605(a) that vary depending upon the type of adverse item is at issue.

Accounts can artibtrarily be deleted by CRAs for their own internal housecleaning reasons after being closed for approx 10 years, but that is solely an internal procedure of the CRAs, and not required or regulated by any statute or regulation.

What provision of statute are you relying upon to assert an account in your credit report has a "drop off date?"

[dapps06]

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@RobertEG wrote:

As intimated by others, it is unclear as to what basis you are asserting for older accounts to "drop off" of your credit report, and thus what is the basis for any dispute of accounts that remain in your report?

Derogs have credit report exclusion dates under FCRA 605(a) that vary depending upon the type of adverse item is at issue.

Accounts can artibtrarily be deleted by CRAs for their own internal housecleaning reasons after being closed for approx 10 years, but that is solely an internal procedure of the CRAs, and not required or regulated by any statute or regulation.

What provision of statute are you relying upon to assert an account in your credit report has a "drop off date?"

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Just going by the "account expected to remain on report until..." line I see on both TU and EX.

I'm glad I asked this question because until now I thought ten years was mandatory as 7-10 years for adverse account removal is. Now that I know this is simply a general guideline, I'll happily keep the accounts on my report and refrain from notifying EX their account open date is wrong for these six accounts.

Thanks for the responses everyone.

[takeshi74]

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@dapps06 wrote:

I'd rather everything be updated correctly, and take the AAoA hit now to see what it will do to my score, if anything, than wait until December. Am I being too OCD about this?

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First off, it's not OCD though I know everyone seems to misuse it.  As others have stated, it's to your benefit.  Your call if wanting everything to be "correct" trumps the benefit of having it continue to report.

[ddemari]

Just last week credit karma alerted me of accounts removed from my cr

6 student loans that were refinanced in 2005, dropped off

and when I was 16 my mom opened discover and added me as an authorized user, she closed it  few years after and that just dropped too

i still have cc's reporting from being opened in 2003 on cr and one is actually still opened.my scores haven't changed.

[RobertEG]

There are three main ways information can be deleted or excluded.

Deletion is what it says.... removal from your credit file.

Exclusion is a bit different, in that the info remains in your credit file, but has become excluded from ability of the CRA to include it in credit reports they issue based on a relevant credit report exclusion period defined in FCRA 605(a).

1.  The party who reported the information can, at any time, simply report its deletion.

2.  The information is an adverise item of information, such as a delinquency, collection, charge-off, public record, that has a date of occurence that has now exceeded its credit report exclusion period, and can thus no longer be included in your credit report.  The CRAs will usually post theri expected "drop off date" in a consumer's credit report, but such expected drop dates are usually months prior to the statutoru exclusion date, so are not themselves disputable.  A dispute related to credit report exclusion should be directed to inaccurate reporting of the derog date, such as a date of monthly delinquency or the DOFD on an OC account, and not an estimated or expected exclusion date.

3.  An old account that has been closed for approximately 10 years.  The CRAs have a housecleaning policy, not based on any statute or regulation, to delete such old accounts from their files.