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jassica
Joined: 13 Sep 2009
jassica's page
Posts: 68
14 Magic Points
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Subject: credit affect
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Fri Oct 02, 2009 5:28 pm
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| I have several accounts over 7 years old on my credit report that states I was late but the accounts were paid as agreed and closed. Will deleting these accounts raise my credit score? |
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Justin
Joined: 17 Jul 2006
Justin's page
Posts: 1298
28935 Magic Points
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sunnyca
Joined: 10 Sep 2009
sunnyca's page
Posts: 150
952 Magic Points
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Sat Oct 03, 2009 5:30 am
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Thats correct any late payments will remian on yoru report for 7 years and they will have someimapct on yoru score for that period for sure
There is no way remove thme until 7 years |
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sdchargers_63
Joined: 13 Aug 2007
sdchargers_63's page
Posts: 1498
107 Magic Points
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Subject: debt
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Sat Oct 03, 2009 9:21 am
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| I think there is a pretty good chance that the CRA's WILL remove them, after looking at how long they have been on your credit. I had one 'account' that was on my CR for more than 9 years. It was an old utility bill. I 'disputed' the debt, VIA the internet, with the CB, and they removed it. I REALLY need to look at my CR again, soon. |
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help
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Subject: debt
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Fri Mar 12, 2010 10:43 pm
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| i have a credit card that shows as "paid and closed" the account is past the 7 year period. will leaving this entry on my report hurt my score? |
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NightStar
Joined: 10 Mar 2010
NightStar's page
Posts: 51
Location: Illinois
900 Magic Points
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Sat Mar 13, 2010 12:20 am
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Don't remove old accounts with late listings that are closed, after 7 years the late notation comes off but the entire listing itself reverts back to positive for an additional 3 years. So this account gets to stay on the credit report for 10 years total.
The actual late is so old it is not hurting the score anymore it just looks bad when a lender views the credit report, but if you are going for new credit applications - most lenders would see it, but not count it, they are usually concerned with the most recent 2 years of late listings.
If you ever have a late with in the recent 2 year window, sending letters asking creditors to reconsider reporting the late and deleting would be better then removing the whole listing.
A late is bad, but the accounts they are attached to are still good.
A bad account is when you get more than one late - like up in the 120/150/180 day late point, then you want it gone. There will be no way with late listings that bad that a creditor would consider removing and switching to say pays as agreed.
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cinnamngrl
Joined: 01 Nov 2008
cinnamngrl's page
Posts: 460
2459 Magic Points
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NightStar
Joined: 10 Mar 2010
NightStar's page
Posts: 51
Location: Illinois
900 Magic Points
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Sun Mar 14, 2010 4:36 am
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If it is a negative account then it will expire off after 7 years.
But good positive accounts will show on credit reports for 10 years.
That late listing will come off that account automatically at 7 years - but the whole listing will turn back to positive and remain an additional 3 years.
That is not bad at all, you should want that additional 3 years of good reporting.
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