20 year old charge off

[TheBronxBomber]

Can something that was charged off 20 years ago and was left unpaid return on your credit report?

[MarineVietVet]

---

@TheBronxBomber wrote:
Can something that was charged off 20 years ago and was left unpaid return on your credit report?

---

Not legally.

From a BK years ago to:
EX - 3/11 pulled by lender- 835, EQ - 2/11-816, TU - 2/11-782

"Some people spend an entire lifetime wondering if they've made a difference. The Marines don't have that problem".

[sgs10]

+1

[addicted_to_credit]

Some one correct me if I am wrong but I believe a charge off or collection can only stay for 7 years But a CA can try to collect on it until it's paid or settled

[MarineVietVet]

---

@addicted_to_credit wrote:
Some one correct me if I am wrong but I believe a charge off or collection can only stay for 7 years But a CA can try to collect on it until it's paid or settled

---

That's correct. In theory any debt owed never goes away. It's just the reporting that has a time limit.

From a BK years ago to:
EX - 3/11 pulled by lender- 835, EQ - 2/11-816, TU - 2/11-782

"Some people spend an entire lifetime wondering if they've made a difference. The Marines don't have that problem".

[Shogun]

They can post it to your CR practically forever.  It's up to the CRAs to make sure than anything past 7.5 years isn't left on there.

[Booner72]

---

@Shogun wrote:

They can post it to your CR practically forever.  It's up to the CRAs to make sure than anything past 7.5 years isn't left on there.

---

Oh well, that's a scary statement!  I hate that anything is up to the CRA's.  It's a good thing people are learning about this  so we can remind them it shouldn't be reported anymore.  I did not know this until about 2 weeks ago. 

[RobertEG]

The FCRA sets no time prohibition upon the reporting of accurate information to one's credit file.  The limitations set forth in FCRA 605(a), which are commonly called "drop off dates," apply to the inclusion of the information in credit reports issued by a CRA, and the burden is on the CRAs to monitor those dates, and (normally) cease inclusion of those derogs in your CR after those dates.  However, the information remains in your credit file, and could, under limited circumstances, continue to be reported.  It is more a matter of the CRA normally being required to mask them from disclosure after certain dates rather than actually deleting anything.

The significance is found by taking a look at FCRA 605(c).  It has the provision for continued inclusion in your CR after the normal exclusion dates set forth in section 605(a) under limited circumstances.  While those rarely occur, they point out the distinction between CR exlusion and credit file deletion.