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Is the 7 years rule , from when the delinquency was made?

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dmpls79



Joined: 15 Apr 2008
dmpls79's page
Posts: 1



31 Magic Points
Subject: Is the 7 years rule , from when the delinquency was made?
 
 Posted on Tue Apr 15, 2008 4:18 pm  
I know a credit delinquency stays on your report for 7 years. Is the 7 years from when the delinquency was made. For example, between June-Aug 2001 I had 30+days late payments. Would that mean after August 2008 they would be off my record? Because looking at my equifax report I can see stuff from back in 2000.
Laura

Laura

Joined: 21 Jun 2007
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Posts: 1334



35467 Magic Points
 
 Posted on Wed Apr 16, 2008 4:49 am  
Well dmpls,

First of all welcome to the forum. The 7 years is from the day the delinquency occurred. What you can do now is that either wait for the items to fall off or dispute them (this is what I prefer). The items from 2000 can be disputed but I cannot say surely because I dont know the status of the account.
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Laura.
goodnatured



Joined: 03 Nov 2007
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Posts: 3927



10 Magic Points
 
 Posted on Sun Apr 20, 2008 12:52 am  
You are right Laura,
dmpls, I think it takes a month or two after the seven years is up to fall off, if you are in a hurry you should contact the credit reporting agencey and see if they will speed it up. goodluck hope you get it cleared up soon, please keep us updated on your progress.
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Morningstar

Morningstar

Joined: 17 Apr 2007
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Posts: 582



11 Magic Points
 
 Posted on Sun Apr 20, 2008 8:39 am  
If these are only 30 day lates, the entry would remain until Aug. 08. If these are 60, 90, 120, 150, or 180, add one additional month for each increment.
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Morningstar

Morningstar

Joined: 17 Apr 2007
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Posts: 582



11 Magic Points
 
 Posted on Sun Apr 20, 2008 8:41 am  
Dispute the entries from 2000 as obsolete (if these are judgments or tax liens, they are exceptions to the seven year rule).
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fireyone



Joined: 26 Feb 2008
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Posts: 4285



127 Magic Points
 
 Posted on Mon Apr 21, 2008 1:33 am  
Morningstars way is probaly quicker and you would be more sure of the results.

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