Tradeline removal?

[Anonymous]

What exactly is tradeline removal??

[myjourney]

OMG OP sorry your post went unanswered 

TL = anything reporting on your CR's 

The only TL that you would want removed would be what we call a baddie (negative TL)

Example of bad TL ......CO, CA, PR, etc etc 

All others that were/are paid on time...paid as agreed....closed in good standings are positive TL's and good for up to ten years 

Removal of a TL can be for reasons (not mine) (PFD)  etc etc thus removing any bad TL can increase scores making your CR's look more appealing to prospective lenders 

[RobertEG]

The FCRA does not mandate removal of trade lines, only of advers items of information reported under the TL.

Accounts that you establish are trade lines.  Collections are not trade lines.

There are two separate types of "removal."

In most cases, they appear the same to the consumer when receiving their credit report, but there are distinctions.

One tupe is exclusion, and the other type is deletion.

Under the FCRA, the CRAs are required to exclude adverse items reported to them from credit reports they issue after certain dates.

Those dates vary depending upon the type of adverse information.  The most common exclusion periods are 7 years from date of occurence for monthly delqiuencies, and 7 years plus 180 days from DOFD for collections and charge-offs.

Excluded information can not (normally) be included in credit reprots issued by the CRA, but the informaiton is not actually delted from the consumer's creidit file, and can still be obtained under very speciifc and limited circumstances as provided under FCRA 605(b), such as if requested by a credtior with whom you are seeking credit in the amount of $150K or more.

The other type of removal is deletion of the information from the consumer's credit file. If a creditor reports actual deltion of information they have previously reported, then it is gone from the consumer's credit file, and thus cannot be obtained from the CRA under any conditions.

[Anonymous]

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@RobertEG wrote:

The FCRA does not mandate removal of trade lines, only of advers items of information reported under the TL.

Accounts that you establish are trade lines.  Collections are not trade lines.

There are two separate types of "removal."

In most cases, they appear the same to the consumer when receiving their credit report, but there are distinctions.

One tupe is exclusion, and the other type is deletion.

Under the FCRA, the CRAs are required to exclude adverse items reported to them from credit reports they issue after certain dates.

Those dates vary depending upon the type of adverse information.  The most common exclusion periods are 7 years from date of occurence for monthly delqiuencies, and 7 years plus 180 days from DOFD for collections and charge-offs.

Excluded information can not (normally) be included in credit reprots issued by the CRA, but the informaiton is not actually delted from the consumer's creidit file, and can still be obtained under very speciifc and limited circumstances as provided under FCRA 605(b), such as if requested by a credtior with whom you are seeking credit in the amount of $150K or more.

The other type of removal is deletion of the information from the consumer's credit file. If a creditor reports actual deltion of information they have previously reported, then it is gone from the consumer's credit file, and thus cannot be obtained from the CRA under any conditions.

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@RobertEG, is a public record (BK CH7) also excluded after 10 years? or is it deleted from the credit file?