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is a clean report really better?

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CreditDrama85
Established Contributor

is a clean report really better?

i am noticing more improvement in my scores by just leaving my collections alone vs. disputing and then having 1 deleted only to have it reported again or another one added.

 

i am tempted to dispute them again trying a valid but different reason and approach but i am afraid of what it would do to my score (especially with equifax) .

 

can anyone offer advice?

Message 1 of 5
4 REPLIES 4
Jazzzy
Valued Contributor

Re: is a clean report really better?

From what I have read, disputing your collections can cause the collection agency to update the collection and make it look more recent. This doesn't change the timeframe in which it will drop off...it just makes it look more recent, which is more harmful to scoring.

 

If you dispute again, what would the reason be?

Message 2 of 5
bigtim
Frequent Contributor

Re: is a clean report really better?

Is a 'clean' report really better?

 

I've got one for ya'. I have a charge-off that is about to drop off in May. It's a 10+ year old account. I opened several new accounts last year and this old account is helping my AAoA, I think, and I'm afraid that when it drops off my score might actually drop since the positive age might outweigh the old negative effect... I hope I'm wrong, and if anyone has some thoughts, please share.

 

Thanks.

---------------------------------------------------------------
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Back to gardening for a year or two
Message 3 of 5
RobertEG
Legendary Contributor

Re: is a clean report really better?

Bigtim, I dont think that will happen.

The "drop off" date for charge offs is 7 1/2 years from the DOFD on the OC account.  The drop dates set forth in FCRA 611(a) and (c) only pertain to the derogs reported on an account, not to the account itself.  There is absolutley no statutory drop off dates for OC accounts.  They can remain forever.

CRAs will normally retain accounts for at least 10 years from the date OC account is closed, in order to be sure that any possible derog drop off dates set forth in FCRA 611(a) have expired.  I have an account closed over 25 years ago that is still included in my CR.

Message 4 of 5
MattH
Senior Contributor

Re: is a clean report really better?


@RobertEG wrote:

Bigtim, I dont think that will happen.

The "drop off" date for charge offs is 7 1/2 years from the DOFD on the OC account.  The drop dates set forth in FCRA 611(a) and (c) only pertain to the derogs reported on an account, not to the account itself.  There is absolutley no statutory drop off dates for OC accounts.  They can remain forever.

CRAs will normally retain accounts for at least 10 years from the date OC account is closed, in order to be sure that any possible derog drop off dates set forth in FCRA 611(a) have expired.  I have an account closed over 25 years ago that is still included in my CR.


Curious, I've never seen that.  My closed accounts have all vanished exactly 10 years after their date of last activity (for instance car loans and student loans vanished on the anniversary of when I paid them off).  Perhaps they keep the positive history on derog accounts longer than they keep the positive history of accounts without any derogs? None of my old accounts ever had any derogs reported so maybe in that case they don't need to keep them around, I dunno. 

Message Edited by MattH on 02-21-2010 11:11 AM
TU 791 02/11/2013, EQ 800 1/29/2011 , EX Plus FAKO 812, EX Vantage Score 955 3/19/2010 wife's EQ 9/23/2009 803
EX always was my highest when we could pull all three
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