Ahh I'm fine. Takes a lot to break me <twitch>.
Smart Cookie...No psychological damage intended...Hope you are ok. Keep "smiling"...
I think all this will only stop when the records of the politicians and wealthy elite are hacked and displayed for everyone to see.
Hubby's FICOs when we started: high 400s (June 2008)
Hubby's FICO NOW (04/06/09): TU: 679 EQ: 608 EX: ???
My FICOs: TU: 643, EQ: 606
Closed on new home: 1/20/2009 -- If we can do it, YOU can do it!!
How long do these places keep your info? Is it the standard 5-7 years or longer? Thanks so much!
The standard is 7 years on most items, and up to 10 years on others.
However, the FCRA and other regulations allow for lenders considering amounts above $150,000 or employer's considering potential employee's with a salary above $75,000 to obtain information going back further, and apparently without any particular time limits.
I'm not sure if this means the CRA's maintain an "archive" of older information and can make that available to qualified requests for historical data, or what, but just be aware that the law allows some lenders and employers access to information beyond the traditional 7-10 year credit/public record info.
Furthermore, public records can be pulled forever through public record databases, which means your BK, judgements, liens, etc. are available forever and a day.
The LKEs have to comply with the FCRA just like the Big Three.
An LKE is a §603(w) nationwide specialty consumer reporting agency while the Big Three are each a §603(p) consumer reporting agency.
Interestingly enough, one of the LKEs just settled for $100K because they violated the FCRA.
Badcustomer.com that I discovered only just today right here on MyFico Forums.