How long to report?

[pipergirl71]

HI all,

I'm new to this part of the community/forum, and I'm not going to be buying a car any time soon.... BUT..... I pulled my credit report and noticed that my GMAC car loan is still being reported from all the back to 2004.  I thought the "normal" reporting time was 7 years, but I'm guessing it's a little different with car loans?  (The loan originated in 2001).

Also, has anyone had any luck with good will letters with GMAC?  I have a "baddie" on my report from 2006, and am considering sending a letter.

Thanks for your help!

~Erin

[Anonymous]

Closed accounts will generally report for 10 years from date of closure. Sometimes they disappear a little sooner and sometimes they can hang on longer. You have nothing to lose by attempting goodwill from GMAC but if nothing else the "baddie" will drop on it's own at 7 years from occurrence on an original creditor account. (I am assuming this is on the GMAC auto loan tradeline). So at the end of whatever month it occurred it will come off this year and the good tradeline will report for another few years.