Category: Credit Report

How long does it take for credit card latenesses to fall off one’s credit report?

Question by lightning_strikes: How long does it take for credit card latenesses to fall off one’s credit report?
I’ve heard that “baddies” stay on a credit report for 7yrs from the date of first delinquency.

In 2002, I had a Visa lateness recorded on my credit report. Next to the lateness, it said “due to stay on credit report until 3/2005” which is only 2.5yrs not 7. Then in spring 2005, the lateness vanished from my credit report! (hooray!)

But in early 2005, I fell into financial problems again(job loss) and a few more 30day credit card latenesses got recorded on my credit report. In the past month, one of these 30day latenesses has vanished from my TransUnion report, along with any mention of the account(which is a good thing, since it’s been closed and was only open a short time anyway; the account was not beneficial to my Fico score)

I was wondering if the remaining 30day lates will disappear from my report once they hit the 2.5yr mark? Or, have the credit reporting regulations changed since 2002, and I will be stuck with them for the next 4.5yrs? Any experience w/ cc lates?

Best answer:

Answer by spifiman1
According to the 2007 Edition of the Consumer Action Handbook, these accounts should stay on your report for 7-years from the date of first delinquency.

If you have had some drop off earlier that that, consider yourself lucky.

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How can I request Credit Reporting agency to correct their report?

Question by De: How can I request Credit Reporting agency to correct their report?
I got a free Credit Report (online) that gives my credit score too. In the report I saw a Collection agency activity which is incorrect as I paid off the money long ago. How can I correct the matter? How do I formally let the agencies know about it?

Best answer:

Answer by Woof
You submit a dispute with copies of documentation showing that it was paid off. That doesn’t remove the item – however, it should have the status updated to “paid.”

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How do you know the item on your credit report is from which credit report bureau?

Question by magda ballew: How do you know the item on your credit report is from which credit report bureau?
I got a credit report from a lender (the lender type of credit report), it lists 3 credit scores.

There is a same tax lien listed twice, one has account number , the other doesn’t has an account number. Which credit bureau should I contact for this issue? How do you know which item is from which credit bureau?

Best answer:

Answer by Alaric
the lender should tell u (in fact it should be somewhere on the report) which bureau they used. by the way, u should contact the other bureaus too coz they likely have the same error, and u shud contact the lender in question.

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