04-30-2012 03:14 PM
Just to clarify, the lates will start falling off 7-7.5 years and since the account wasn't charged off, the account should turn to a postive account and then continue to report for ~10 years from the date of closure.
I assume it wasn't charged off by your statement that it went 120 days late, you paid it and then they closed it. It if was in fact charged off, then the entire account will fall off in 7-7.5 years.
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