Account is scheduled to continue on record until?

[coachb123]

What exactly does that mean?  It's in the status line of some of my collections. 

Does it mean they will be removed from my credit report after then?  I ask because these collections have not reached 7 or 7.5 years.  Most are 5 years old.

[Booner72]

HI - yes that is the date it will fall of your reports.  Neg info can only remain 7 years (unless ch 7 bk and that is 10 years).

EDITED  People say around here 7 years + 6 months - so it might not drop exactly that date, but when it comes to my drop off dates, I'll be on the horn to that credit bureau begging for it's timely removal.

And yes, drops paid or unpaid, etc.  Nice, huh?

The good stuff stays 10 years - so even if you had an account w/ a bunch of lates, after 7 years the lates would drop off, but the positive account would remain another three years.  They stay on 10 years from the date the account is closed.

[coachb123]

Thats great but I guess my question is, why are they dropping off after only 5 years?

[coachb123]

Also I think I saw somewhere that you could petition the CRA to remove items early?  Like 3 or 6 months?  Maybe I dreamed that one

[hoping2rebuild]

Are you in NY? If I am not mistaken paid collections come off after 5 years in NY

[coachb123]

No I am in NC and these are collections that have NOT been paid.

[lpayton]

The DoFD may be what is causing them to come off.  Most credit reports only show an "opened" date, and a "reported" date, and some show the date the account is scheduled for removal, which is based on the DoFD (date of first delinquency).  Most (if any) don't show a DoFD, they usually just show the date the account was reported and opened.  And, the "opened" date insnt nessecarily the date the ACCOUNT was opened by you originally, it may be they date the CA purchased it, so it could be much later than the DoFD.

I know this is sort of confusing, but hope it helps for what it is worth.

[Booner72]

---

@coachb123 wrote:

Thats great but I guess my question is, why are they dropping off after only 5 years?

---

Maybe the accout didn't go to collections for 2 years.

It drops from the date of first delinquency.  To get that date, you need to get your reports from annualcreditreport.com.

[coachb123]

That could be.  Didn't think about that.  I am looking at my Experian report and it only shows Date opened and Reported since dates from the collection agencies.  Nothing from the original creditors.

[hoping2rebuild]

I am in NC myself

You should also read this thread regarding NC SOL

http://ficoforums.myfico.com/t5/Rebuilding-Your-Credit/North-Carolina-Super-SOL/m-p/669670#M106684