Are old lates supposed to keep reported yrs later?

[carlismycat]

I have past accounts that are from over 4-6 years ago not only paid off but long gone and closed out. I am still seeing them reporting as of august 2014 my most recent lates , which are from 2008/2009 ! For example it will say more than 90days late. But these are accounts that have been closed for years! Whenever I check my credit reports , having those "derogatory" 's / late payments is what is really hurting my scores.
I'd say that I have a good record of paying ALL accounts ON TIME for a good 4+ years now with no lates at all. I have been in good standing with all CC accounts I've had since my last late payment in 2008/2009.

What Im asking is this something I have to deal with until it falls off my credit in 10 years? Or are they not supposed to be continuing to report on me like this (the closed accounts from 2008/2009) . I just saw one of them reported my late payments just this month and it was an account I haven't had in 5-6yrs.

[dursty87]

Lates stay on your report 7 years from the date of occurrence.

[tomfromrictmame]

One would have to see exactly how it was reporting in order to be sure.  The OC can report each late payment (month) until they age off individually after 7 years.  The CO can report the TL for the same 7 year period, but when the aging occurs, the entire TL is excluded from reporting.

Reaging of debt is illegal, but a TL that is derogatory and is recently updated (primarily as a result of something being disputed), and "appear" to be recent in the FICO scoring models.

Also the understanding of most is that late payments 90+ negatively affect your score for the entire 7 year period.  The same is true of a CO.

[tomfromrictmame]

It should be noted that some federal debts are treated differently and can report for up to 10 years.

[carlismycat]

They are not federal. it was back when my credit was not only crap,but i knew nothing about how to improce it, AND these are only the crap cc companies. Primarily credit one and first premier. I understand about them being reported late at the time of it being late. It showed up on my august report as them reporting FOR AUGUST 2014 for the lates, from way back in 2009 . I don't know if this is considered "updating" (And no ,I did nothing to dispute,or contact them) or an error/illegal report that i should dispute. We are probably not allowed to include a screen shot (cropped) are we? 

[carlismycat]

OKAY, I copied and pasted to hopefully make this easier to explain. This is the first savings account CC I have had since 2008. I only kept it because they increased my CL and it was my oldest account at the time that i was going through an APP spree and got all new CC's. I kept this one and my capital one with plans to close them when my newer accounts aged more. Anyway, the card I had was expired and I never got a new one. Turns out they still had my old mailing address. It was considered lost/stolen . So when they reported for August here is what it showed: date opened: march 2008 (latest late payment Jan 2009) On my Credit report it did show I was late several times with them in 2008&2009. My last late payment (90day late) was Jan2009. fine,okay true..... But for August "status" info here is what it says: equifax: "closed" , next collumn it says "lost or stolen card" Transunion: "closed" , next collumn it says "paid or paying as agreed" Experian: "open' , next collumn it said " Current account/ was delinquent 90 days past due But the dates on each of these for "status date" are August 2014 . That's what bothers me. Fortunately it did not drop my score. But what i'm wondering now is if it's just an UPDATE , is this still going to fall off my credit report in seven years from the actual last late payment? 

[Anonymous]

is it showing updated only on experian?

[tomfromrictmame]

Without seeing the TL, it's a little hard to tell but it sounds as though it's reporting correctly.SInce this is the OC reporting, your individual lates will start to fall off 7 years from that date.  In your case, your 2008 lates will start to fall off next year.  Your last payment has nothing to do with it.

[Anonymous]

this is my thoughts. ..since tu and eq are showing closed they will fall of in 7 years...but ex will not fall off cause its showing open. ..just contact ex cause its a error. ..that's what I would do.

[carlismycat]

I'm confused still.  This is NOT a closed account though. Just for clarification: Every time in the past that I've done a lost/stolen on a card, it always reported that card as 'lost/stolen" then "closed" and "re-opened' a new account number,for same card and started reporting the newer card but with same history. I was not talknig about my most recent payments, but the date of my most recent **late** payments,which was January of 2009. It shows me having been late  90 days as reported august 2014, but I know it's talking about back from 2009. Just trying to figure if it reported it in the correct way,or if it's an error.  Am I allowed to post a (cropped) screen shot of what I'm looking at if it shows no other personal information? 

Also, if it is still technically an open account (active) What difference does it make if the "closed"/lost card # one is showing as open or not, ( for the collumn where it says "open") because regardless its still going to show as open for the newer updated one I got in the mail to replace the lost one. 

( I have to go back and look at the abbreviations for phrases so can't understand the replies without going to another page,then returning to this again.)