Collections falloff question

[toothgrind3r]

Just pulled my yearly credit reports.

Experian is the only one with left negatives on it.

I have two collections (paid, Midland and Cavalry) left on the report, with the two original creditors (Chase and BofA)

Question is, will both collection and the original creditor fall off at the same time?

For example, is Cavalry says "This account is scheduled to continue on record until Jan 2016" can I expect the original Bank Of America negative account to fall off at the same time? 

[gdale6]

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@toothgrind3r wrote:

Just pulled my yearly credit reports.

Experian is the only one with left negatives on it.

I have two collections (paid, Midland and Cavalry) left on the report, with the two original creditors (Chase and BofA)

Question is, will both collection and the original creditor fall off at the same time?

For example, is Cavalry says "This account is scheduled to continue on record until Jan 2016" can I expect the original Bank Of America negative account to fall off at the same time? 

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They should as both work from the DoFD of the account.

[toothgrind3r]

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@gdale6 wrote:

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@toothgrind3r wrote:

Just pulled my yearly credit reports.

Experian is the only one with left negatives on it.

I have two collections (paid, Midland and Cavalry) left on the report, with the two original creditors (Chase and BofA)

Question is, will both collection and the original creditor fall off at the same time?

For example, is Cavalry says "This account is scheduled to continue on record until Jan 2016" can I expect the original Bank Of America negative account to fall off at the same time? 

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They should as both work from the DoFD of the account.

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Thanks!

[RobertEG]

It is adverse items of information that become excluded under the FCRA.

A collection is, in and of itself, defined as an adverse item of information under the FCRA, and thus becomes excluded.

An OC account is not itself an adverse item of information, only the individual derogs reported on the account.

The collection will become excluded no later than 7 years plus 180 days from the DOFD on the OC account.

If the OC account reported a charge-off, that CO will also become excluded at the same time as a collection, i.e. no later than 7 years plus 180 days from the DOFD.

Any monthly derogs reported by the OC will become excluded no later than 7 years from their individual dates of delinquency.