How long can a creditor report a past due account to your credit Report. I heard 7 years, is this correct?
447189
The answers here are right for the most part. It is 7 years for bad debts and 10 years for bankruptcies (from the date of discharge). \n\nIt's 7 years from the date of last activity, not the date first reported. If you have an open balance in "active collection" (which can mean nothing more than "they still hold it as an open account and expect you to pay it someday"), that can go on for a long time (until they write it off then + 7 years).\n\nA lot of creditors (especially collection agencies) will no longer keep your file on hand more than a year or two after the account has been settled. If you pull your credit report and you have a negative item on there, AND the date of last report is greater than a year ago, I would dispute it and see if it falls off ;-)\n\nPS: Section 605(a)(4) that Studly pointed out states "(4) Accounts placed for collection or charged to profit and loss which antedate the report by more than seven years. (note 2)"\n\nNote 2 says: "The reporting periods have been lengthened for certain adverse information pertaining to U.S. Government insured or guaranteed student loans, or pertaining to national direct student loans."
382691
Yes. It takes 7 years for an account to fall off of your credit report, and it is 7 years from the last date of activity. So if you opened the account 5 years ago, but you paid on it last month, it won't fall off until 7 years after last month. Your best bet is to just keep paying as agreed. \n\nFiling bankruptcy won't help, either. They just changed the laws so it really wouldn't do you any good.
945804
No. Each state has a statute of limitations, it is usually 6-7 years depending on where you live. For example, in NY if you incurred a debt 1/1/2000 and never paid on the account, the SOL would be up 6 years later, on 1/1/2006. Usually it starts from the date of first delinquency. A company cannot collect, you do not have to pay it, and a court will throw out a judgment that is outside the SOL.\n\nUnder the FCRA, they also cannot list a debt on your credit report that is over 7 years old, regardless of the SOL. If you see this on your report, dispute as "the 7 year reporting period under the FCRA has expired". The Fair Credit Reporting Act does not allow bad debts to be listed for more than 7 years, except bankruptcy which can be listed for 10.\n\nBy the way, do not, and I mean DO NOT under any circumstances pay this debt if it is over 9 years old. It will reset the SOL, and also the 7 yr reporting period, which means it can be listed for another 7 years on your credit report. One of the worst mistakes people make is they think paying old debts will help their credit. It won't! Making a payment causes the Date of Last Activity for the account to be updated to this month, instead of 9 years ago, and your credit score will plummet.
873525
Well, the law states that creditors can only put a negative mark on your credit file for 7 years. However, they can harass you for your entire life.\n\nIf it was me, I'd bide my time. It's only a couple more years, and no $7.00 debt is worth $500.00!\n\nJust don't give the creditor your new address!
338196
Your credit report should reflect a zero balance, but they remain on your credit report for 7 years.  The only way to get them off before then is to request the reporting company to remove them.....)(
748305
I hope that in your divorce this issue was addressed.\n\nIf there are still amounts owing on the joint debts, they will stay on your report until they are paid off.  And as long as your name is on the debt, you credit will reflect the payments & history.\n\nThere is no way to remove the joint debt reporting, this will be a part of your credit history for at least 7 years.   If the debts have been paid off and the accounts closed, then you can submit a paper explaining why accounts were late (if they were) etc. \n\nGood luck & congrats on your new life.
289067
Items placed on your credit report will remain for 7 years, from the time they are reported to the agency.  After that they must be removed.\n\nADDITIONAL COMMENTS\n          DUCK joieanew!!!!\n\nKnowledge of the law is our only weapon!   \n     I AM ARMED!!!!\n\nI totally disagree with your statement below.  If I am incorrect, please do me a favor and point out where in the law you are referring to.\n\nFirst, the Statute of Limitations has nothing to do with the reporting length on your credit report.  It applies to the legal obligation you have to collect a debt.  Once the SOL has run out, you can not sue, nor does the debtor have a legal obligation to pay.  \n\nYou do, however still have the right to collect the debt, and to report the debt with the collection agencies.  \n\nBelow is the requirements from the Fair Credit Reporting Act.\n\n=====================\n\n§ 605. Requirements relating to information contained in consumer reports [15 U.S.C. § 1681c]\n\n(a) Information excluded from consumer reports. Except as authorized under subsection (b) of this section, no consumer reporting agency may make any consumer report containing any of the following items of information:\n\n    (4) Accounts placed for collection or charged to profit and loss which antedate the report by more than seven years.(1)\n     \n(c) Running of reporting period.\n\n    (1) In general. The 7-year period referred to in paragraphs (4) and (6)(2) of subsection (a) shall begin, with respect to any delinquent account that is placed for collection (internally or by referral to a third party, whichever is earlier), charged to profit and loss, or subjected to any similar action, upon the expiration of the 180-day period beginning on the date of the commencement of the delinquency which immediately preceded the collection activity, charge to profit and loss, or similar action.\n\n================\nNow, as I read this, I see no clause that restarts the clock if you make a payment on your debt after it has gone to collections.  \n\nYour reply would be appreciated.\n\nAm I wrong?  What am I missing?
872095
Your credit history is displayed for 6 years.
689498
Any account included in a bankruptcy remains on your personal credit report for a maximum of 7 years from the date the bankruptcy was filed. The bankruptcy itself, listed in the public record information section of a credit report, remains for either 7 years from the filing date if it was a Chapter 13, or 10 years from the filing date if it was a Chapter 7, 11 or 12.
1047980
it's an urban myth that things are removed from your report after 7 years. Not true. What does happen is that after time, things no longer affect your score. But it will be on there until the day you die and then some. I pulled a persons credit and it turned up they were deceased. But I could tell he had late payments on his credit cards from 10 years ago. Your account will show a zero balance on your report. any late payments will showup on there as well as when they occured. If you paid off your stuff, make sure you receive letters from your creditors stating you owe no balance and everything is paid. keep them. obtain your credit report and make sure it reflects that you have paid your balances off. if not, contact the reporting bureau and send copy of aforementioned letter and tell them to update. call your creditor and have them update it on their end to the bureaus as well.
1043220
The seven years is almost up, don't waste the money.  It's not a subpoena, just a shakedown letter.  It may not actually get removed from her credit report after seven years, but it shouldn't be taken into account by new creditors.  It was charged off, so they're out the money and she's out her credit rating.
74830
That depends on what type of debt is causing your bad credit. There are a number of different time frames for items to be removed from your credit report. Inquiries remain on your credit report for 2 years. Delinquencies, collection accounts, charge-off accounts, chapter seven bankruptcy, and paid tax liens remain on your credit report for 7 years. Chapter thirteen bankruptcy remains on your credit report for 10 years. Unpaid tax liens remain on your credit report for 15 years. This information came directly from the credit bureau. If you feel the information on your credit report is too old to still be reported, you should file a dispute with the credit bureau directly.
419453
Max, it's VERY important how the information is reported on your credit report, as it effects how your credit score is calculate\n\nBelow is what the law says.  I'm amazed at how many people keep getting this wrong.  It's written quite plainly so anyone can understand it.  \n\nThe date for reporting begins on the day you defaulted on the loan.  In your case, once your medical services were finished payment is generally due immediately.  If they send you a bill, there is usually a "pay by" date.  That is your default date.  \n\nIf anyone tells you it's the date of the last transaction, the day you last talked to them, the day you pay it off....they are either wrong or just lieing to you.  \n\nBy the way, if you pay off this debt, be sure to get IN WRITING that they will remove this listing from your report.  Otherwise, all they will do is show the account is paid, but the negative reports such as paid late, or sent to collections, will still remain.  Your credit will still be ruined, even though you paid the debt!  Does that make sense to you?\n\nHere is the law:\n\n\n§ 605. Requirements relating to information contained in consumer reports [15 U.S.C. § 1681c]\n\n(a) Information excluded from consumer reports. Except as authorized under subsection (b) of this section, no consumer reporting agency may make any consumer report containing any of the following items of information:\n\n(4) Accounts placed for collection or charged to profit and loss which antedate the report by more than seven years.(1)\n\n(1) In general. The 7-year period referred to in paragraphs (4) and (6)(2) of subsection (a) shall begin, with respect to any delinquent account that is placed for collection (internally or by referral to a third party, whichever is  earlier), charged to profit and loss, or subjected to any similar action, upon the expiration of the 180-day period  beginning on the date of the commencement of the delinquency which immediately preceded the collection activity, charge to profit and loss, or similar action.\n\nUpdated Reply...\n\nJC, this is another example of what pisses me off with you collectors.  YOU can't read!  Read my message again!  The law I quoted is right from the FTC website, and (to me) is fairly obvious.  Where does it say "last charge" or "last payment in the above paragraphs?  \n\nAnd the ONLY thing that can remain on your credit report for more then 7 years is a Bankruptcy.  We are not even discussing that, so why scare people by bringing that up?  \n\nAgain, I will ask you to point me to a source for your information.  I will not accept "because I'm a professional bill collector".  This only proves my point!  If you need more evidence, I will be happy to point out FTC commission position papers, case laws, and state laws that prove you wrong.\n\nEvery response I have seen from you in this forum is always the same. "Pay your bill!".  God!  You make a great collection agent!  You got that part memorized.  But what do you say to the 75 year old lady who just spend 3 months in the hospital and is now $25,000 in debt for medical bills, and can't make that $100 credit card payment?  Oh yeah, right...."Pay your bill!".
776745
IamIntresting is absolutely wrong.\n\nWhen they refer to the "last transaction" on an account, it means the last time you made a payment, or put a charge on the account.  Please refer to many of the state statutes as it does specifically state this.  A charge-off has nothing to do with re-aging a debt's SOL.\n\nNow, let me ask you a question.  Would you rather pay off this debt and get it off your credit report......or would you rather collect $1000 from them for listing a debt past the 7-year reporting period required by the Fair Credit Reporting Act?\n\nHUH???\n\nPlease read section 809c of the FCRA.  It clearly says that debts can not be reported longer then 7 years, starting from the date of the delinquency.\n\nNOT the charge off date.  NOT the last transaction date.  \n\nSo what you need to do is the following:\n\n1) Read the FCRA link below.\n2) Send a dispute letter to the Credit Bureau\n3) Send a validation demand letter to the creditor\n4) If it's not removed within 30 days, send one last letter to the creditor.\n5) File a small claims lawsuit (you don't need a lawyer)\n6) Spend your $1000
68575
Until you take care of it...or I did hear that after 7 years it gets taken off but I wouldn't trust that.  The best way to find out would be to call a credit counseling business and ask them.
800387
This is because the accounts still fall within a 7 year history. The key on the report is the "date of last activity" which is the actual date that counts. Regardsless of account status, there is a monthly submission from each creditor as to the standing of the account in reference.\n\nI write a blog on the subject of credit management, mortgages, real estate trends, etc. Check it out for more information that may be helpful.
917093
If it has been over 4 years don't worry about it. You will actually do more damage to you credit by paying them off now because your credit is mostly about the last 2 years so if you pay them off now it will show up as a bad account now and drop your credit score.\n\nIf it has only been a year or 2 you can get a free copy of you credit report by calling the credit reporting agencies and it will have the name and contact info for all of you creditors on the last 2 pages.