Established Member
Posts: 27
Registered: ‎04-05-2010

NY 5 Year Rule?

I just read in another thread about a 5 year rule in NY? Can someone please give me the details about this? This would greatly help me!

Posts: 22,408
Registered: ‎01-17-2008

Re: NY 5 Year Rule?

You have to currently reside in the state.  Collections, COs and judgments that are paid can only stay on your CR for 5 years from the DoFD, or in the case of a judgment, the filing date.

Established Member
Posts: 23
Registered: ‎10-24-2012

Re: NY 5 Year Rule?

I thought NY was 7 years...It would be great if I was wrong :smileyhappy:

Senior Contributor
Posts: 3,482
Registered: ‎07-25-2008

Re: NY 5 Year Rule?

Hopefully Robert will correct me, if wrong: I believe a paid CO can only remain on your CR 5 years, if it was paid within the first year.

Starting Score: 675
Current Score: EX ? FICO, EQ 708 FICO
Goal Score: 776 FICO

Take the FICO Fitness Challenge
Posts: 22,408
Registered: ‎01-17-2008

Re: NY 5 Year Rule?

[ Edited ]

It doesn't matter when it was paid.  A paid CO, collection or judgment stays for 5 years in NY.


New York State Residents Only (must be current resident)

  • Satisfied judgments remain on your credit file for five years from the date filed.
  • Paid collections remain on your credit file for five years .
  • All other deletion rules apply as noted above.
Mega Contributor
Posts: 17,456
Registered: ‎03-19-2007

Re: NY 5 Year Rule?

One rub in the NYS statute is that it does not include the provisions of FCRA 605(c) that clearly define the DOFD as the date-certain that commences the running of the CR exclusion period for collections and charge-offs.


While two of the CRAs interpret the NYS statute as running from DOFD, consistent with the fed FCRA, EX apparently does not.  They are apparently interpreting the period under the old, old FCRA language of 7 years from the date placed for collection. 

The fed FCRA was amended back in 1998 to include the DOFD clarification, but the NYS statute has no such provision.  Prepare for a hassle.

myFICO is the consumer division of FICO. Since its introduction 20 years ago, the FICO® Score has become a global standard for measuring credit risk in the banking, mortgage, credit card, auto and retail industries. 90 of the top 100 largest U.S. financial institutions use the FICO Score to make consumer credit decisions.

>> About myFICO
FICO Score - The Score that matters
Click to Verify - This site chose VeriSign SSL for secure e-commerce and confidential communications.
Fair Isaac Corporation is a BBB Accredited Financial Service in San Rafael, CA
FOLLOW US Social Media Facebook Twitter Pinterest Google+