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New York - A Credit rebuilder's paradise

Enitan
New Contributor

Re: New York - A Credit rebuilder's paradise


@RobertEG wrote:

It applies if you are a current NYS resident at the time it reaches 5 years.

There is no requirement under the statute that they consumer was a NYS resident when the debt was paid, only that the consumer is a current resident and that the debt was previously paid.

 

New York State General Business Law Section 380-j

“(f)(1) Except as authorized under paragraph two of this subdivision, no consumer reporting agency may make any consumer report containing any of the following items of information.

(i) bankruptcies which, from date of adjudication of the most recent bankruptcy, antedate the report by more than fourteen years;

(ii) judgements which, from date of entry, antedate the report by more than seven years or until the governing statute of limitations has expired, whichever is the longer period;  or judgments which, from date of entry, having been satisfied within a five year period from such entry date, shall be removed from the report five years after such entry date;

(iii) paid tax liens which, from date of payment, antedate the report by more than seven years or, a paid, satisfied or vacated tax lien involving a purchaser, transferee or assignee in a bulk sale transaction who has been deemed liable by the state tax commission for sales taxes due from a seller, transferrer or assignor under subdivision (c) of section eleven hundred forty-one of the tax law, where the receipt by a credit reporting agency from such purchaser, transferee or assignee of a notice, or true copy thereof, from the state tax commission to such purchaser, transferee or assignee that his liability has been wholly paid or satisfied or no longer exists, antedates the report by more than thirty days;

(iv) accounts placed for collection or charged to profit and loss which antedate the report by more than seven years;  or accounts placed for collection or charged to profit and loss, which have been paid and which antedate the report by more than five years;


.......

 

........

 

YOU...........

 

Sweet sweet glorious NYS LAW!!!!!!!

 

This honestly means.......ALL OF THEM ARE DISAPPEARING within 6 months......

 

We're moving to NYS in literally 3 weeks. 

2015 was a bad year after my car wreck (not my fault) honestly though this is going to cause removal entirely of

 

citi/bestbuy CO

syncrocity CO

2 FPB CO

 

this will literally wipe my report clean minus a few late payments.........

Started rebuild 6/2016
EQ: 488 TU: 504 EX: 497
Current as of 09/18/20 fico8)
EQ: 640 TU: 649 EX: 640
Goal
750 across
Current State: I canna stay in the garden captain there’s just nat enough powa for it yet
Message 11 of 14
ImTheDevil
Super Contributor

Re: New York - A Credit rebuilder's paradise

@Enitan, even living in NY and having the benefit of the Purge Law, I've been able to get early exclusion on derogs. Are you familiar with EE?

Platinum NPSL | Rose Gold NPSL | BCP | Delta Gold | Hilton Surpass | Hilton Honors | FNBO Prime Visa | FNBO Evergreen | PenFed PCR | PenFed Gold | Navy cashRewards | Navy Platinum | Apple | Wells Fargo Active Cash | IT Cash | IT Chrome | GHSFCU Visa Plat | Quicksilver | Target | VS | Home Depot | Lowes | Sams MC | Firestone | Overstock | Kohl’s | Key Bank auto loan (2017 Audi A6 Premium Plus S-Line)


Message 12 of 14
Enitan
New Contributor

Re: New York - A Credit rebuilder's paradise


@ImTheDevil wrote:

@Enitan, even living in NY and having the benefit of the Purge Law, I've been able to get early exclusion on derogs. Are you familiar with EE?


That requires it to be within 6 or 3 months of aging off doesn't it? If y'all have another way to do it I'm all years. I'm not planning on any credit or huge purchases or mortgages but I'd sleep way better with things cleared up. 

Started rebuild 6/2016
EQ: 488 TU: 504 EX: 497
Current as of 09/18/20 fico8)
EQ: 640 TU: 649 EX: 640
Goal
750 across
Current State: I canna stay in the garden captain there’s just nat enough powa for it yet
Message 13 of 14
ImTheDevil
Super Contributor

Re: New York - A Credit rebuilder's paradise

Same rules as anywhere else:

 

TU - 6 months early (4y6m after DoFD)

EX - 3 months early (4y9m after DoFD)

EQ - don't you dare

Platinum NPSL | Rose Gold NPSL | BCP | Delta Gold | Hilton Surpass | Hilton Honors | FNBO Prime Visa | FNBO Evergreen | PenFed PCR | PenFed Gold | Navy cashRewards | Navy Platinum | Apple | Wells Fargo Active Cash | IT Cash | IT Chrome | GHSFCU Visa Plat | Quicksilver | Target | VS | Home Depot | Lowes | Sams MC | Firestone | Overstock | Kohl’s | Key Bank auto loan (2017 Audi A6 Premium Plus S-Line)


Message 14 of 14
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