When will this negative TL drop off?

[DrZoidberg]

I have been getting mixed reviews on when the 7 year mark for bad tradelines starts. Here is the info. 

Date Opened: 02/10/2004
Responsibility: Individual Account
Account Type: Revolving Account
Loan Type: CREDIT CARD
Balance: $0
Date Updated: 04/08/2011
Payment Received: $0
Last Payment Made: 02/20/2011
High Balance: $3,608
Credit Limit: $2,800
Pay Status: Current; Paid or Paying as
Agreed
Terms: Paid Monthly
Date Closed: 11/06/2007
Date Paid: 02/20/2011
>Maximum Delinquency of 90 days in 12/2007 for
$288<

Remarks: CLOSED BY CREDIT GRANTOR; CLOSED

The first delinquency was 30 days on 10/2007...60 days 11/2007....90 days 12/2007.The account was closed November of 2007 at the 60 day delinquency. The charges were paid off in December and then for some reason there are "OK" remarks for every month starting on 01/2008 (after the 90 day delinquency in Dec) and they go all the way up to 03/2011 for some reason. They reported and "OK" status for 3 years after the account closed. 

My question. Does the 7 year mark start on the first delinquency (10/2007), the date closed (11/2007) or that last "OK" they reported (03/2011). 

[DrZoidberg]

Probably should move this to the "Rebuilding Credit" section. 

[guiness56]

The account appears to have never been charged off or sent to collections.  If that is the case there is no DoFD and there is no negative annotation to be removed at the end of the 7.5 years.

It is only late payments that is making the account negative.  Each of those lates will be removed 7 years from their occurence.  When the last one is removed the account will become a positive account again and remain for up to 10 years from the date closed.

[DrZoidberg]

[DrZoidberg]

Here is a pic of what the status looks like. And you're saying it's not a negative account in whole, it's just the laste payments that is making the account look bad? 

[guiness56]

Any account with a late payment is a negative account.   Even one 30 day late will make an account negative.

Those lates were in 2007 so all of them will be removed this year.  After the last one is removed it will again be a positive account.

[DrZoidberg]

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@guiness56 wrote:

Any account with a late payment is a negative account.   Even one 30 day late will make an account negative.

Those lates were in 2007 so all of them will be removed this year.  After the last one is removed it will again be a positive account.

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Does this account right now or will ever count against my AAoA? Or is that only for open accounts?

[guiness56]

All OC accounts, open, closed, good or bad are counted in your AAoA.