@pizza1 wrote:I've been around this forum long enough to know the answer to this, but then I've read like 4 different versions!! I'm really confused and need an expert to chime in to set it straight once and for all. I really appreciate it.
ok.... I will give you an example, and I need you to tell me when it's supposed to drop off my records.
DOFD~ 05/2012
does it fall off in 2017 or 2019?? Do I add 7 yrs to 2012, or add 5 yrs to 2012 to equal "7 yrs" . I'm sorry for my ignorance, lol!!!
Earliest 05/2019, latest 11/2019 the law states seven years plus 180 days from the DoFD is the maximum time a negative account can remain on file, the CRAs most likely will let it go at 7 years so they dont have to worry about staying in complaince with the law,
Gdale, thank you so much!!! I've got alot of account (22) that will all drop off 05-06/2019. These accts were all IIB, so I've got a long time still
@pizza1 wrote:
Gdale, thank you so much!!! I've got alot of account (22) that will all drop off 05-06/2019. These accts were all IIB, so I've got a long time still
I think you will find (over time) that a lot of those will just disappear off your reports one day, every BK I have every gone through did not result in all the IIBs lasting the full 7 years, one would disappear every now and then and I certainly didnt question why. I think in my last discharged BK they started disappearing at the 3 year mark...
@pizza1 wrote:
That would creaking awesome, but I've got so many!!! Lol.... I wonder why they get deleted much much earlier than the 7 yrs?? You mean when your bk turned 3 yrs old on your reports you started noticing them one by one leaving? I was delinquent on everything a yr before I even filed, so all those accts are already 2 yrs .
Yes that is what happened to me, the full amount of IIB entries on my CRs have never made it to the 7 year mark in all the discharged BKs I have gone through, the only one that stuck the full 7 from BK as it was current at the time I filed was Discover and I had accounts with Citi, Mercantile Bank, US Bank, Mellon, Bank of NY, Chase to name a few. The disappearence of the TLs could very well have been due to house cleaning of the records and the banks sending in deletion requests on the accounts.
