Credit Reporting Time Periods

[baygirl]

Sad update to my ealier post about DOLA....I requested a supervisor from TU to clarify and she states that because this tradeline was closed it can report from DOLA or date of Closure..."which ever date is the most recent. 

Working to pay Bank of America every last dime we owed them gives me the most punitive penalty.   I guess I should have let this go to collection.  Crazy!!! 

Does anyone have any thoughts on this? 

[jstap01]

So here's my question....

'Delinquencies (30 – 180 days): Can remain seven years from the date of the initial missed payment."

I have a Kay Jewelers TL that is reporting scattered 30 and 60 day lates from April 2009 -Jan 2013. I don't dispute these.  I have paid this account off.  Does the above mean that all late payments will be dropped off once the April 2009 miss is 7 years old????  I am GW the hell out of this to try to get them off but Kay isn't budging.

- Jon

[Anonymous]

They will drop off as each late hits seven years. A late in 2013 will drop off in 2021. However, they will hurt less as they get older and your score should improve each time one drops off. As the most recent late gets further into the past you will also see a boost.

I don't know if anyone has data but when you get TU where you have had no late payments in the last two years I bet you see an increase.