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TU, No date

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radfam
Frequent Contributor

Re: TU, No date

I may have found my answer on the experian website.  I know this report is TU, not Experian.  Here is what I'm looking at on Experian:

 

How Long Do Closed Accounts Stay On Your Credit Report?

  • A closed accounts with no negative information in its history will remain on your credit report for 10 years from the date the account closes.
  • A closed account that was closed in good standing but had some late payments will remain on your credit report for 10 years, as well, but the late payments will be removed seven years after they occurred.
  • If the account was charged off, will be removed from your credit report seven years after the original creditor first reported the account as delinquent.

 

So does that mean unless there is an actual "estimated month and year that this item will be removed" date on the TL, it will stay on there for 10 years, with lates falling off after 7yrs from the late payment date?

Fico 8 as of 03/09/2023:



Message 11 of 15
Anonymous
Not applicable

Re: TU, No date

OK, so the only derog info on that account is the late months. Those will drop individually as each one becomes 7 years old. The account itself will then become a positive account and stay on your report for ten years from the close date.

Message 12 of 15
radfam
Frequent Contributor

Re: TU, No date

Thanks Norman!  I am still learning a ton about CRs.  When I first began all of this journey, I didn't even know what a tradeline was or meant.  Haha, as evident by my previous posts across different boards, I still have a lot to learn.  Thanks for helping me understand all of this!!  I seriously almost decided to pay Lexington Law to do this for me but I'm too stubborn and commited to actually learning this instead.

 

Great info to know about why these particular TLs are "adverse accounts" on my report.

Fico 8 as of 03/09/2023:



Message 13 of 15
RobertEG
Legendary Contributor

Re: TU, No date

There is no DOFD unless the creditor has also reported a charge-off.

DOFD is irrelevant to exclusion of monthly delinquencies, and thus they have their own exlcusion dates based only on their month/year reported.

 

However, as stated by Norman, federal student loans are not subject to any of the normal exclusion provisions under the FCRA, so there is no exclusion date determination by a CRA until the federal student loan has been paid.

Message 14 of 15
radfam
Frequent Contributor

Re: TU, No date

Thanks Robert.  So how does that work with SL consolidation?  Great Lakes allowed me to consolidate all of my federal SLs into one loan with them.  So I no longer have a loan with Navient, and those two TLs are showing closed and zero balance.  Every other SL TL I had that was consolidated is showing zero balance, closed, and has a fall off date listed.

Fico 8 as of 03/09/2023:



Message 15 of 15
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