Negative accounts last reporting 04 and 06... when gone??

[Creditaddict]

I all of a sudden am confused tonight regarding these accounts that started popping up after I got my scores and debts to really drop and starting applying for new things... I locked my reports as fast as I could minus TU which should be done by next week, I had to actually mail in the request!

Anyway, I thought bad accounts dropped at 7 years??

I'm in CA if it matters.

[the_jan_b]

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@Creditaddict wrote:

I all of a sudden am confused tonight regarding these accounts that started popping up after I got my scores and debts to really drop and starting applying for new things... I locked my reports as fast as I could minus TU which should be done by next week, I had to actually mail in the request!

Anyway, I thought bad accounts dropped at 7 years??

I'm in CA if it matters.

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I'm not sure about all accounts; but if I am not mistaken, collection accounts usually (but not always) drop approximately 7.5 year from DOFD.  For the '04 account, depending on when the DOFD occurred, it's possible that it's still within that 7.5 year timeframe; for the '06 account (again, if it's a collection account), depending on the DOFD, it's possible that the the drop off time period may not be until 2014.

I do hope that someone with more experience on the subject will correct me if I am wrong!

[tcbofade]

If you're not in a hurry to do anything, try to be patient.

I just had LOTS of baddies fall off at the end of 2011.

ONE of which briefly showed up on two of my cr's with a new reporting date and a new collection agency.

I called the collection agency on the phone, and they explained to me that after seven years, they COULD still try to collect the debt, but could NOT list it on my credit reports...

I was planning to dispute with the CRA's, but the account dissappeared again before I got there...

It COULD just be a timing issue...

[RobertEG]

OC accounts dont "drop," just the inclusion of each individual adverse item that has passed its CR exclusion date.

Collections are a bit different.  By nature, the entire reporting of a collection is an "adverse item" under FCRA 605(a), and thus once 7 years plus 180 days has expired from the date of first delinquency on the OC account, the entire collection is then excluded from your CR under FCRA 605(c).

Do you know the actual DOFD on the OC account, if the item you are concerned about is either a collection or a charge-off?

If the CR exclsuion period has expired, the party at fault is the CRA, not the debt collector.  The FCRA places no restriction on the reporting of accurate information at any time.

It charges the CRA with the responsibility of monitoring dates of adverse items, and excluding them from any CR they issue after that date.

[quest208]

creditaddict i cant wait to see your scores go past 700.  you're so close!