Comments on: Are you sure the unsecured credit card loans will disappear after 7 years? If so, how come I still see it all?

By: Hendry

Hendry — Wed, 18 Feb 2009 23:27:08 +0000

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By: echo

echo — Tue, 17 Feb 2009 13:55:15 +0000

Credit cards report for 7 years from the first time a person is 30 days late and never brought the account current leading to the charge off with the original creditor.

It does not matter if you made a payment yesterday, it would not change the reporting period. Once an account is charged off with the original creditor - NO PAYMENT will reset the reporting period !!

If the accounts are reporting past the 7 year period, it is quite possible that the accounts have illegally been re-aged.
Write the CRA’s and dispute any account that is reporting past the 7 year period as obsolete and demand that they be removed.

You should check the collecting SOL in your state. If you are past the SOL you have a legal right to inform the creditor/collector that the account is past SOL and legally no longer collectible.

You might click on my profile and click on the last link I have listed. You will be able to locate your states collecting SOL and sample letter templates.

By: itslarue

itslarue — Mon, 16 Feb 2009 04:11:02 +0000

People tend to think that items disappear 7 years after you’ve opened the account. Actually, as someone mentioned up there, they drop off of your credit report (or they SHOULD) 7 years after the last transaction. So, if you made a payment 3 years ago, or agreed to a settlement a year ago on an account that was opened 6 years ago, it’s still going to be on there for 7 years AFTER you make the last payment/settlement, etc.

IF you have made no payments to, or had no contact with the accountholder for 7 years, you need to contact the three major credit reporting bureaus to have them remove the account from your report.

By: sharrona

sharrona — Sun, 15 Feb 2009 07:05:36 +0000

You ‘must’ contact the credit bureau and report this - - tell them what happened - they will send you a written report, and will remove it from your credit report.

It is your responsibility to do this with them, not the creditors.

That is how it works in the States. Check with your local gov. com.

By: swatthefly

swatthefly — Fri, 13 Feb 2009 06:38:53 +0000

they disappear 8 years after the last transaction with them.

By: Craig T

Craig T — Thu, 12 Feb 2009 12:46:28 +0000

If they are that old, then in most states it is past the statute of limitations and cannot be collected on.

However, they will stay on for 7 years and most likely that is 7 years from the date it was written off as a loss by the card company.

There is no way to force them to remove accurate information