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Joined: 13 Sep 2009
jassica's page
Posts: 76

25 Magic Points

Subject: credit affect
Posted on Fri Oct 02, 2009 5:28 pm  

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?


Joined: 17 Jul 2006
Justin's page
Posts: 1238

28944 Magic Points

Posted on Sat Oct 03, 2009 4:52 am  

Hi Jassica,

Late payment is considered as a negative item on your credit report. All negative items stay for 7 years in your report. You are saying that these accounts are 7 years old, so they should be removed by the CRA. If the CRA has not done that, then you have to dispute it through a dispute letter asking them to remove it. Improvement of credit score depends on number things. However, removing these negative items will help improving your score.
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Joined: 10 Sep 2009
sunnyca's page
Posts: 148

955 Magic Points

Posted on Sat Oct 03, 2009 5:30 am  

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


Joined: 13 Aug 2007
sdchargers_63's page
Posts: 1883

1916 Magic Points

Subject: debt
Posted on Sat Oct 03, 2009 9:21 am  

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.

Subject: debt
Posted on Fri Mar 12, 2010 10:43 pm  

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?

Joined: 10 Mar 2010
NightStar's page
Posts: 142
Location: Illinois

3177 Magic Points

Posted on Sat Mar 13, 2010 12:20 am  

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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Joined: 01 Nov 2008
cinnamngrl's page
Posts: 1320

6419 Magic Points

Posted on Sat Mar 13, 2010 7:16 pm  

if they accounts are over 7 years old then get them removed
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Joined: 10 Mar 2010
NightStar's page
Posts: 142
Location: Illinois

3177 Magic Points

Posted on Sun Mar 14, 2010 4:36 am  

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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