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Why is something staying on my CR for 10 years?

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Joined: 01 Mar 2007
madchen779's page
Posts: 2

118 Magic Points

Subject: Why is something staying on my CR for 10 years?
Posted on Thu Mar 01, 2007 4:48 am  

It seems like all my closed/paid off accounts are staying on my credit report for 10 years. I opened the accounts in 1997, they were all paid off in 2000. I disputed it but they said it will remain on my CR until 2010! Does this seem right?

I'm new to this forum. I am trying to repair my credit. I opened a bunch of credit cards when I was 18 (1997), didn't pay them very consistently and then paid them ALL off in 2000. In the past I have been late on payments, but haven't had any late payments in about 2-3 years. I don't know what I can do to repair my credit.....
Thank you!!

Joined: 23 Feb 2007
stanley's page
Posts: 54

3357 Magic Points

Posted on Fri Mar 02, 2007 7:15 am  

Hi madchen, Welcome to the community! Very Happy

Most derogatory notions; except bankruptcy and judgment, are likely to get off of your credit report after 7 years from the date of reporting. If a ‘late payment’ is reported to CRA in 2000, it must go off in 2007. If it doesn’t you should dispute it. Tell us more about the status of the accounts, date of first reporting and the name of the consumer reporting agency that’s showing it.
BTW, I am not a lawyer, I am here to share what Life has taught me.

Subject: Credit questions
Posted on Tue Apr 03, 2007 12:40 am  

One of my credit items says, "Paid closed/never late" but it also says that it is scheduled to be on my credit until Jan. 2016. It was opened 11/2004, and I closed it. I don't even remember this card. But why will it stay on my credit for 12 years??

Another one was opened in 01/1999, it's a closed account, it says it will remain on my credit until 03/2010. Last reported date was 3/2000. That's 11 years!

One of my cards, went to collections and I paid an amount to settle it (it was less than the balance). It says on my credit report "Account legally paid in full for less than full balance." Date opened 10/1997, it was paid off in 2000 I think.

I have a bunch of cards that have been paid off for over 8 years and they still remain. They aren't showing any negative comments. Should I keep them on there or dispute them? I tried to dispute them but they told me they would remain on there for longer.

I'm so confused!!

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