credit history removed

[Anonymous]

Where can I find and understand the "rules" about how long info stays on your credit report?  I have numerous medical collections which have been paid and I wonder how long this info effects my credit score.  In addition I would like to know how long credit card history stays.  I also need to know what the starting point for "timing off" your credit report"  is.  Is it the day the acct was closed, paid, what?

[llecs]

Welcome to the forums!

I'd suggest reading Credit Scoring 101. Med. CAs will be removed 7-7.5 yrs from the day you visited the doctor, because that is the DOFD or the day you first went delinquent in not paying the doctor.

For closed accts in good standing, it is 10 yrs from the date you closed the CC. For bad CC accts (and any other OC acct) it is the day you first went delinquent and never recovered. You'll see 30 days, then 60 , then 90, etc. DOFD is at the 30 days.

[DI]

 Go to this site and type of status code in the search box.  Look for the word doc credit reporting resource guide link.

http://www.cdiaonline.org/

[smallfry]

Though all the reports might be different I would get an Experian report. Most of your collections should show the month they will drop off. Mind you all of these might or might not be on TU and EQ matter of fact you might find some listed here but not there. DOFD on EQ plus 7.5 years is supposed to be the drop date but I see this morning that date assigned plus 7 years is the drop date on her 3 EQ collections. 

[RobertEG]

It is spelled out in FCRA 605.

Most delinquencies drop at 7 years from an OC account delinquency, 7 years from the date of a civil judgment, and 7 years from date of payment of a lien.

If an account goes to CO or CA status,that is a separate account that drops at 7 1/2 years from the date of first delinquency on the OC account.

Paying a delinquent account does not affect its date of drop off from you CR, except for liens.

The above periiods only control how long a CRA may report informatiion in your CR, not how long they can store it.

There is an exemptiion under FCRA 605(b).  If you apply for any credit of $150,000 or more, none of the reportng restrictions of FCRA 605(a) apply, and prior derogs can be included in your CR, even if beyond those 7 year limits.

The FCRA includes no provision for when aq CRA must delete prior account activity from your credit file.  It seems to be their practice to delete account reporting aftter ten years from the date of closing of an account, but this is not regulated.

Message Edited by RobertEG on 06-21-2009 05:57 PM

Message Edited by RobertEG on 06-21-2009 06:00 PM

[haulingthescoreup]

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Catmandu wrote:
Where can I find and understand the "rules" about how long info stays on your credit report?  I have numerous medical collections which have been paid and I wonder how long this info effects my credit score.  In addition I would like to know how long credit card history stays.  I also need to know what the starting point for "timing off" your credit report"  is.  Is it the day the acct was closed, paid, what?

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This thread is included in "Frequently Requested Threads", which is stickied at the top of a lot of the boards:

Credit Reporting Time Periods

Customarily, a closed account remains on your reports, providing history, for ten years after closing. This doesn't always happen though, and recently Equifax in particular has been terrible about dumping closed accounts. And when they do, there's not much you can do about it. That kind of got left out when they were writing the law.