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Years old late payments and closed accounts

tiny2016
New Visitor

Years old late payments and closed accounts

I'm being hurt by closed accounts that show I have been late in the past when do these fall off? Also I have some late payments back in 2012/2013 when do they fall off?

Message 1 of 4
3 REPLIES 3
silkysean
Regular Contributor

Re: Years old late payments and closed accounts


@tiny2016 wrote:

I'm being hurt by closed accounts that show I have been late in the past when do these fall off? Also I have some late payments back in 2012/2013 when do they fall off?


Any negative reporting will fall off 7 years plus up to 180 days from Dofd which means date of first delinquent.So if those dates are 2012/2013 they will fall off in 2019 and 2020.If this is too long and you need better scores visit the rebuilding section lots of great info there on cleaning up credit.Cleaning up credit and getting good scores requires time and serious work but can be Accomplished.Good luck 

Message 2 of 4
RobertEG
Legendary Contributor

Re: Years old late payments and closed accounts

Credit report exclusion is based on the type of derog only, and not upon the account status of open, closed.

The status of paid or unpaid only applies to tax liens or judgments.

 

The basis exclusion periods are:

Monthly delinquencies on an OC account:  no later than 7 years from date of occcurence

Charge-offs and collections:  no later than 7 years plus 180 days from the DOFD on the OC account.

 

For the other exclusion periods for public record information, see the details in FCRA 605(a).

Message 3 of 4
takeshi74
Senior Contributor

Re: Years old late payments and closed accounts

Don't just wait for them to fall off.  Hit the Rebuilding subforum and see if there's anything you can do about them.

Message 4 of 4
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