credit
Wonderin if any credit gurus out there can help me out w a question. Does a 30 or 60 day late go away in 7 years? Is it from the date the account opened or the day it defaulted the 30 or 60 days? Someone told me it was from the day the account was opened which made no sense to me. thx EF
E.F.Can we bankrupt this country in four years?"Yes We Can."
Would not make sense from day account opened, what if account was already 7+ years old? Not sure if seven years but pretty sure it is some period from date late occurred.Originally Posted by Excessive Force
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i agree. has to be date of default. cant remember but i recall someone on the board was in the know with regards to credit maybe he'll chime in...thx
E.F.Can we bankrupt this country in four years?"Yes We Can."
It is from the date of the default. If you are in really good standing with the creditor they may remove it for you as a courtesy. Not likely this will happen if it's already been sent to the reporting agencies but it doesn't hurt to ask.
good luck trying to get anything removed from the "pricks of america", i.e. trans union, equifax & experian, keep in mind the way they make thier money is by reporting, good, bad or ugly, doesn't matter to them, unless you speak with someone very, very high up you will not get anywhere !!!, especially since they themselves think thier so above everyone, because they have the power to yes a request or deny a request !!!!
credit
Lates stay on your credit for as long as the creditor reports them. typically the bureaus will stop reporting them after 2-4 years and if they dont wait until a busy credit season like christmas or a holiday where people spend money. then simply go to www.annualcreditreport.com and dispute them say you never paid late and the chances of the creditor wanting to respond to a 2 year old late is slim..
The new rules go into effect on Feb 22 and a lot of things will change on how they charge interest and report to credit agencies
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Just to bad the Big "O" let them have until Feb 22 !!!, he could of made the banks do this asap, instead it gave the banks lots of time to screw every American royally !!!! 29.99% interest, OPT Outs, Credit Limits Reduced, and on and on, all to the banks benefits, certainley not the consumers, and I'm refering to "responsible" consumers, not the people who just f'ck it and walk away because they never could afford what they were spending !!!
If you dispute through annualcreditreport.com the lenders have 45 days to answer the dispute. If you do it in writing they only have 30 days. Do it in writing. Annualcreditreport.com is cool if you want to pull your credit but keep in mind that it is sponsored by the bureaus so they do not have your best interest in mind.
I was able to have a bullshi*t 30 day late removed on a Macy's card my wife had. They never responded to the dispute, and it was removed. Thanks god! Nothing like messing your credit up over a $40 shirt..........needles to say she no longer has a macy's card
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It depends on who they are pulling their tri merge from. Some companies like credco will break down the account into columns and will have the 30,60,90, and 120+ brackets that can report all the way back to the account opening. They will put a number in the column and then at the bottom state what the date was of each late.
Others will report as a sequence of numbers (IE. 0001002001200) which would translate to 0's = current, 1's=30 day late etc.... Now most of those will only report that sequence back two years. If they pull that type, then they will only see back two years.
Some times this is a reason that two different credit brokers will pull different scores. Also some credit brokers are able to attain more information in other areas of the credit, such as jobs, addresses etc...
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