Removing Bad Credit Reporting accounts

[Anonymous]

Is it customary or heard of to contact old account holders at the seven year anniversary to request they stop reporting negatively? All of my old accounts are paid and I am coming up on the seventh year, so will they laugh in my face if I contact them or will this be easily resolved.  Also, I do have one old collection that is over seven years old that was not paid, will this ever be removed, can I request it be removed since it is over seven years? Is the "seven year rule" just an estimation, can the individual creditors decide whether or not they want to make the correction?

Thanks so much.

[llecs]

By law through the FCRA, all negatives on old OC accounts or CAs must be removed within 7-7.5 yrs from the date of the baddie or DOFD.

Be very careful in asking old OC accounts to go away. Sometimes the history helps more than the baddie hurts. My DW once lost points on a Verizon CO when removed. It was one of her oldest accounts. Compare your open date of the OC to the age of your AAoA. If the account in question is older, then you'd run the risk of losing points. If you give specifics, someone will point you in the right direction.

CAs will continue to hurt up to the very end. When was the DOFD? Pull your CRs directly from the CRAs. EX and TU will usually list a drop off date. Is that date approaching?

[pattycake]

I have had entire trade lines deleted, in fact, just this past summer, an old Providian account and two Capital One accounts just disappeared off all three CRBs.  Weird.  They all had baddies, and my score jumped more than 30 points when they fell off.

[Anonymous]

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@Anonymous wrote:

Is it customary or heard of to contact old account holders at the seven year anniversary to request they stop reporting negatively? All of my old accounts are paid and I am coming up on the seventh year, so will they laugh in my face if I contact them or will this be easily resolved.  Also, I do have one old collection that is over seven years old that was not paid, will this ever be removed, can I request it be removed since it is over seven years? Is the "seven year rule" just an estimation, can the individual creditors decide whether or not they want to make the correction?

Thanks so much.

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Answer to that line. Yes you can request it to be removed and you should because if you have something that has a balance that hasn't been paid it looks bad. Well any collections looks bad especially if you haven't paid it. 

[laz98]

yeah, my baddies are older than any of my accounts by more than 2 years.  something tells me that i'm going to lose points when they drop off

[guiness56]

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@Anonymous wrote:

Is it customary or heard of to contact old account holders at the seven year anniversary to request they stop reporting negatively? All of my old accounts are paid and I am coming up on the seventh year, so will they laugh in my face if I contact them or will this be easily resolved.  Also, I do have one old collection that is over seven years old that was not paid, will this ever be removed, can I request it be removed since it is over seven years? Is the "seven year rule" just an estimation, can the individual creditors decide whether or not they want to make the correction?

Thanks so much.

What is the DOFD of the collection that is over 7 years old?   No, the 7 year rule is not an estimation.  It is a Federal Law and is based on the DOFD which is set by the OC and can not be changed.

If you have an item that is reporting 7 - 7.5 years past the DOFD you can dispute it has too old to report.  Make sure it is past the 7 - 7.5 years before you do.

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