12-06-2012 03:12 PM
I have an account with National Grid that is over 7 years old that they are re-aging. National grid says they can report it on my credit report for 10 years. They did however send me a letter stating when the account was open and when the account was closed on their letter head. I sent a copy to the CRA and disputed the account on my credit report and Experian said my info was not sufficient to delete the account, and "confirmed" the information with National Grid and the account will stay on my credit report. Does anyone have a point of contact for National Grid and any suggestions as to how to move forward with this????
12-06-2012 03:16 PM
It's paid I'm assuming? What's the date of first deliquency, and what are they re-aging it to? And on the basis of what?
Also, I too am in RI. National Grid can be a PITA in most ways.
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12-06-2012 04:10 PM
Positive accounts stay on for 10 years after paid, negative with a CO fall off 7 years + 180 days from the DOFD and lates fall off 7 years from their respective dates.
12-06-2012 04:39 PM - edited 12-06-2012 04:40 PM
Nothing in the FCRA requires deletion of accounts of the creditor, or requires that they remain in a consumer's credit report, based on passage of time.
The FCRA, more specifically, sections 605(a) and (c), regulate the ability of a credit reporting agency to issue credit reports that contain adverse items of information after the dates listed. The exclusion only applies to the adverse item of information, not the account. It does not regulate how long a furnisher has to report adverse information, and does not preclude them from doing so after the credit report exclusion period. It is the responsibility of the CRAs to monitor reporting and ensure that adverse information is not included in their credit reports after the expiration date.
Collections are not accounts with the consumer, and are a bit different. They are, in and of themselves, and adverse item of information that stems from an account with the consumer, and thus expiration of the credit report exclusion period mandates exclusion of the collection.
Deletion of accounts after 10'ish years from closing is purely an administrative policy of the CRAs.