Question about timeline for "falling off credit"

Anonymous · ‎07-24-2014

I have an AMEX that went to collections. It is REALLY old and I think it's about to fall off.

My report has two dates on it...

the date open which is 8/1/2007

and

last updated date which is 11/01/2007

would this 'fall off' in August or in November of 2014?

I've never had anything fall off my credit... does that mean no one will even see that it was ever on my credit? Or do I still need to do something with it to clean it up? I don't have a lot of money to address my collections, but on the other hand I need to have a good score no matter what that means.

Thanks

dursty87 · ‎07-24-2014

You need to find the date of first delinquency or DOFD. The CRTP runs 7.5 years from that.

Shogun · ‎07-24-2014

The DOFD sets the clock for this. Which is when the debt first went in arrears. Best guess, it will be excluded sometime between now and the end of the year.

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Ellifino · ‎07-25-2014

You can call the credit reporting agency and ask. You can also ask them for an early exclusion- if you're lucky, they'll take it off early.

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Anonymous · ‎07-25-2014

Oh that's interesting Ellifino! I will definitely call....I didn't know you could ask for an early exclusion...any special wording or reasons that apply?