Monday, October 29, 2012

Credit information from Ken Strey credit advisor


 

The number one question I get asked is : How long will the items get reported on my file?

 

Here you go…  ( remember – we have Excellent results removing these )

 

• Delinquencies (30–180 days): Can remain seven years from the date of the initial missed payment.

 

• Collection accounts: Remain seven years from the date of the initial missed payment that led to the collection (the original delinquency date). When a collection account is paid in full, it will be marked "paid collection" on the credit report.

 

• Charged-off accounts: Remain seven years from the date of the initial missed payment that led to the charge-off (the original delinquency date), even if payments are later made on the charged-off account.

 

• Closed accounts: Closed accounts are accounts that are no longer available for further use. Closed accounts may or may not have a zero balance. Closed accounts with delinquencies remain seven years from the date they are reported closed, whether closed by the creditor or by the consumer, but the delinquency notation will be removed seven years after the delinquency occurred when pertaining to late payments. Positive closed accounts remain ten years from the closing date.

 

• Lost credit card: If there are no delinquencies, credit cards that are reported lost will continue to be listed for two years from the date the card is reported lost. Delinquent payments that occurred before the card was lost are reported for seven years.

 

• Bankruptcy: Chapters 7, 11, and 12 remain for ten years from the filing date. Chapter 13 remains seven years from the filing date. Accounts included in bankruptcy will remain seven years from the date they were reported as included in the bankruptcy.

 

• Judgments: Remain seven years from the date the judgment is filed.

 

• Liens : City, county, state, and federal tax liens. Unpaid tax liens remain fifteen years from the filing date. Paid tax liens remain seven years from the paid date of the lien.

 

• Inquiries: Most inquiries listed on your credit report will remain for two years. Some inquiries, such as employment or pre-approved offers of credit, will show only on a personal credit report pulled by you.

 

Score Well Credit is “Your Solution”

 

Would you (or someone you know) like to set up a time to set up an action plan to elevate credit scores and discuss outdated, unverifiable or obsolete information on your credit report ?

 

Contact me if you are interested.

 

Regards,

 

Ken Strey

 

Score Well Credit

 

Empowering People to Live Extraordinary Lives

 

Phone : (925) 478-5213 Fax : (925) 226-1883

 

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