I'm really hoping to get a proper answer to this question.
I have three old federal student loans on all three credit reports. They all show to be paid and closed. The history on the accounts begins in 09/2008.
All of these accounts are still showing their complete history all of the way back to the date they were first reported. I was on the phone with a supervisor at TransUnion and asked them about removing old payment history 7 years after the date it was reported. They said that is not possible and advised me to get with Sallie Mae (Navient). Navient refuses to help me at all.
My question is: Is TU correct?? I thought all payment history fell off after 7 years after the account was closed. These accounts were all consolidated in 2013. Does this mean I'm going to have 6 120 day lates on my credit reports until 2023? I really hope not.
Positive accounts generally stay on your reports for ~10 years. It sounds like these accounts were closed in good standing, so they will continue to report for ~10 years after they were closed. There is no reason to want the accounts, or the positive payment history, gone any sooner - these things continue to boost your score.
Any individual negative items, like late payments, that are associated with the accounts should fall off at 7 to 7.5 years after the negative item occurred. When did your lates actually happen?
I really appreciate the response! The lates are being reported for March and April 2010. I definitely didn't want the positive info removed, just curious why none of the stuff older than 7/7.5 years hadn't fallen off yet.