topic negative account removals in Understanding FICO® Scoring

negative account removals

Anonymous — Wed, 22 Oct 2014 02:23:45 GMT

Once a negative or delinquent account is removed can it come back? And when it falls off one credit bureaus report does it always fall off all 3?

Re: negative account removals

Anonymous — Wed, 22 Oct 2014 02:53:51 GMT

@Anonymous wrote:
Once a negative or delinquent account is removed can it come back? And when it falls off one credit bureaus report does it always fall off all 3?

By federal law once the reporting period for any negative has expired it must be removed from all credit reports and can never be listed again.

And yes it will be removed by all three CB's.

Re: negative account removals

RobertEG — Wed, 22 Oct 2014 06:35:38 GMT

You you referring to an account with a creditor, or a collection account?

OC accounts can lose derogs posted on the account once they pass their credit report exclusion period, and thus appear "postive", but they are not deleted or excluded based on any fall off date.

OC accounts are deleted only if their deletion has been explictly reported by the creditor, or if closed for approx ten years, and the CRA has chosed to expunge the account as a houskeeping measure.

Re: negative account removals

Anonymous — Wed, 22 Oct 2014 06:58:19 GMT

@RobertEG wrote:
You you referring to an account with a creditor, or a collection account?

OC accounts can lose derogs posted on the account once they pass their credit report exclusion period, and thus appear "postive", but they are not deleted or excluded based on any fall off date.
OC accounts are deleted only if their deletion has been explictly reported by the creditor, or if closed for approx ten years, and the CRA has chosed to expunge the account as a houskeeping measure.

I believe I misread the OP.

I was focusing on the "negative" or "delinquent" aspect of the question and got tunnel vision thinking of such things as collections, CO's, BK's etc.

My apologies to all.

Re: negative account removals

Anonymous — Wed, 22 Oct 2014 11:26:00 GMT

If you're talking about accounts aging off. Then they will be removed from all 3 but maybe not all at the same time. Depends on when the Dofd is on the 3 bureaus. Typically they coincide within a few months of each other. As to can they come back.... Yes they can come back of sold to another CA. That's why you need to keep hard copies of your reports so if/when it does you can prove it was in fact deleted or time barred.

If we are speaking of accounts that you get deleted. Either by CRA dispute/pfd/ any other means besides age. Getting deletes from all 3 is never assured. Its imperative you keep hard copies of reports in case the debt reappears in a new CA's name.