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Do things fall off at exactly 7 years or 7 years and 3 months?
If it is a CO or collection it is no longer than 7 years and 6 months. The CRAs sometimes exclude early.
What does the law say? 7-7.5 sounds a bit vague.
Oh, it's 7 and a half years, not 7.
Its 7yrs or 7.5yrs depending on how many days you went late
Some things are excluded at 7 years. COs and collections are 7 years plus 180 days from the DoFD.
@DaBears wrote:Its 7yrs or 7.5yrs depending on how many days you went late until the charge-off.
Huh?
Sorry, but I'm still trying to understand. 7 years for CA, is that from DOFD or the time the CA purchased debt and placed on report? Looks like my post was answered before I posted.
7.5 years for a CA from the DoFD of the OC.