when do the bad reports come off credit report

[Anonymous]

I'm wondering when exaclty the bad reports come off your credit report? I'm hearing 7 yrs from the day you last paid. I also wanted to know do they automatically come off or do u have to dispute them? And can i find the exact day they are suppose to come off? any help is welcome!

[MarineVietVet]

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@Anonymous wrote:

I'm wondering when exaclty the bad reports come off your credit report? I'm hearing 7 yrs from the day you last paid. I also wanted to know do they automatically come off or do u have to dispute them? And can i find the exact day they are suppose to come off? any help is welcome!

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Here is how and when derogs drop from you CR, and are thus no longer included in FICO scoring.

Monthly delinquencies under an OC account drop at 7 years from their individual date of delinquency. The date of first delinquency (DOFD) has nothing to do with these drop-off dates. They drop from their own individual dates. So look at each prior OC reported monthly derog date, and simply add 7 years.

If the OC subsequently reports their account as a charge off, that is a totally different and additional post to your CR. Their post as a charge-off will remain in your CR for 7.5 years from the DOFD on the OC account, which is the first 30-day delinquency you had on the account, and disregards any later 60/90+ delinquencies that followed. That cannot be reset.

If the OC then refers the account for collection, and a CA posts to your CR, the drop-off date of their collection reporting is the same as that of a CO. It is 7.5 years from the same DOFD on the OC account, and the CA cannot reset this date.

Mine have always dropped off automatically but you need to make sure anyway.

If you pull your free reports from annualcreditreport.com Experian and Transunion will have the drop off dates and Equifax will have the DOFD.

From a BK years ago to:
7/09 TU-742 EQ- 779
8/09 TU-765 EQ- 783
9/09 EX pulled by lender 802

You can do the same thing with hard work

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[RobertEG]

The exact dates that they are required to come off are summarized concisely in marinevets post.

Date last paid might update your account status code on an account, but has nothing, zero, to do with when it may no longer be included in your CR.

No, you dont have to specifically request their deletion.  It is the responsibility of the CRAs to automatically do the requried deletion basded upon the dates set forth in FCRA 605(a).

But they can only delete based on accurate reporting. 

So, following the dates summarized by marinevet, lay out your OC account records, then identify the date of each montly delinquency on each OC account, and then the DOFD on each OC account.

Simply add 7 years to each montly OC account delinquency reported, and 7 1/2 from DOFD for each CO or CA reported.

If any of those derogs remain after those dates, file a dispute with the reporting CRA under FCRA 605(a) for illegal credit reporting. 

[Anonymous]

   I really appreciate both of your responses esp since you both seem like you know the answer. I still have a little confusion as i dont know all the lingo yet on here. What is an OC account? And i guess my other question is i filed bk a little over 2 yrs ago but most of my bad account are from much longer ago. Will they still fall off accordingly or not til the bk does? Sorry i didnt fully understand but im trying to understand this to bounce back from my bk.Thanks again.

Exp-637 Eq-656 trans-?

[MarineVietVet]

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@Anonymous wrote:

   I really appreciate both of your responses esp since you both seem like you know the answer. I still have a little confusion as i dont know all the lingo yet on here. What is an OC account? OC= Original Creditor. Here is a list of abbreviations used around here:  Abbreviations

And i guess my other question is i filed bk a little over 2 yrs ago but most of my bad account are from much longer ago. Will they still fall off accordingly or not til the bk does? I'm not sure about this and so will let others answer. My first thought is that they are separate from the BK since they happened before but I cannot say for sure.

Sorry i didnt fully understand but im trying to understand this to bounce back from my bk.Thanks again.

Exp-637 Eq-656 trans-?

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