@pizzadude wrote:
@praise123 wrote:
Do badies come off 7 years after last delinquency reported or 7 years from the time the account opened. So, If I had a badie on my account from 2000 and paid it in 2008 when will it come off the report 2007 or 2015It depends on the type of baddie ~ late payments drop at 7 years from the time they occurred. Charge offs and collections drop at 7.5 years from the date of first delinquency ( DOFD ) of the original account. Judgements drop 7 years from the date they are issued.
What if you have a late payment that goes 30, 60, 90, 120 days late and then account is charged off? Does the baddie drop off 7 years from the first late payment of 30 days or does it start at at the charge off date for 7.5 years? If it is the latter then that means the baddie can technically stay on for almost 8 years...ouch!
@MarineVietVet wrote:
@Rhaeny wrote:What if you have a late payment that goes 30, 60, 90, 120 days late and then account is charged off? Does the baddie drop off 7 years from the first late payment of 30 days or does it start at at the charge off date for 7.5 years? If it is the latter then that means the baddie can technically stay on for almost 8 years...ouch!
Each late payment will drop off at 7 years from it's individual date of delinquency. The CO can report for up to 7.5 years from the DoFD (Date of First Delinquency) on the OC account that led to the CO.
So yes from beginning to end if all the negatives don't drop off early then you are looking at close to 8 years of negative reporting unfortunately.
Oh wow...that is really bad. I guess for anyone in that situation it's best to go for deletion of the account by finding something wrong in the reporting and disputing? Otherwise they just have to wait it out and know that the older it gets the less impact it will have.
@MarineVietVet wrote:
@Rhaeny wrote:
@MarineVietVet wrote:
@Rhaeny wrote:What if you have a late payment that goes 30, 60, 90, 120 days late and then account is charged off? Does the baddie drop off 7 years from the first late payment of 30 days or does it start at at the charge off date for 7.5 years? If it is the latter then that means the baddie can technically stay on for almost 8 years...ouch!
Each late payment will drop off at 7 years from it's individual date of delinquency. The CO can report for up to 7.5 years from the DoFD (Date of First Delinquency) on the OC account that led to the CO.
So yes from beginning to end if all the negatives don't drop off early then you are looking at close to 8 years of negative reporting unfortunately.Oh wow...that is really bad. I guess for anyone in that situation it's best to go for deletion of the account by finding something wrong in the reporting and disputing? Otherwise they just have to wait it out and know that the older it gets the less impact it will have.
In case you didn't see the edit of my last post here it is again:
Each late payment will drop off at 7 years from it's individual date of delinquency. The CO can report for up to 7.5 years from the DoFD (Date of First Delinquency) on the OC account that led to the CO.
So yes from beginning to end if all the negatives don't drop off early then you are looking at close to 8 years of negative reporting unfortunately.I can't believe I wrote that. It's late and I've had a hard day LOL. The 7.5 years for the CO would start at the same date as the first 30 day late. So I was absolutely wrong on what I said. Sorry!!
LOL!! No problem, at least you caught it. Thanks for clearing that up 
