Comments on: FAQ: How Long Does Information Stay on My Credit Report?

By: Bill

Bill — Tue, 18 Jun 2013 21:51:10 +0000

No always true. Paying a 6 year old debt will cause your credit score to plummet because it was, well, 6 years old and therefore not counting against you as heavily. When you pay it, it becomes a recent collection that you just paid off. It can also restart the clock so it can show as a collection on your report (admittedly now a paid collection at least) for another 7 years from the date you paid it. If you are working with a mortgage broker have them run the “what if” tools they should have from the major credit reporting companies like Factual Data.

By: EFX Moderator, EM

EFX Moderator, EM — Wed, 12 Jun 2013 15:30:04 +0000

Godiva, I'm sorry to hear you were denied an apartment but it is great motivation to get your credit file in order. It's up to the lender to report the updated information. Click here for details on how your credit report is updated. You could always call your lender and ask how often they report information to the credit reporting agencies. I hope this helps.

By: EFX Moderator, EM

EFX Moderator, EM — Wed, 12 Jun 2013 15:27:32 +0000

The lender decides if the information will be reported to your credit file. Here's some information about how late payments are reported on your credit file. I hope this helps.

By: Anonymous

Anonymous — Tue, 04 Jun 2013 18:17:00 +0000

Question: How long do I have to pay the amount owning in my collection account before it moves to my credit history. Also if i pay off the collection will it ever appear in my credit history?

By: godiva

godiva — Tue, 28 May 2013 18:54:03 +0000

Question: I am in the process of looking for a new apartment. I applied at one i really liked. I was declined residency because of my credit. While disappointed this was the kick in the butt i needed to get a copy of my credit report. I did just that and have paid off 3 of the smallest bills. I am not sure how long each had been on my report. My question is how long will it take for those to show paid on my report and by paying them off will my credit score go up and how long will that take before i should re apply to the apartment.

By: Mary M.

Mary M. — Mon, 06 May 2013 22:58:50 +0000

I cant find an answer to this question. If accounts says CLOSED because of an unpaid balance what does that mean really? Can anyone else pick up this account still and try and collect on it or suite over it if it is closed.

By: Roger O.

Roger O. — Sun, 05 May 2013 09:49:36 +0000

I have seen in several responses that a collection will be removed from your credit report 7 years from the date of LAST ACTIVITY. My question is, what is the date of last activity. I have a collection on my credit report, and I do not see a date of LAST ACTIVITY listed anywhere. The “Date of First Delinquency” is 10/2007, the “Date Assigned” is 12/2007, and the “Date Reported” and “Balance Date” are both 12/2011. Which one of these dates is the magical “Last Activity” date that starts the 7 year countdown?

By: Denise Mancini

Denise Mancini — Tue, 30 Apr 2013 01:50:48 +0000

If negative items have to be removed after seven years does this include an account that you haven’t paid? And if so, how can the collection agency keep “updating” it every month so that it looks current instead of 4 years old?

By: Mark

Mark — Mon, 29 Apr 2013 23:28:45 +0000

Credit scores, such as FICO, are not considered public information. Credit scores are calculated numbers based on proprietary software programs that weigh a consumer’s payment history, length of history, credit utilization, and other factors.

One open secret in the credit score world is there is no such thing as one true credit score. FICO sells consumers their credit score, but when the very same consumer goes to buy a car or house, the prospective lender may see a different score based on their industry. Also, some Web sites will sell a competitor to FICO, called VantageScore. It is possible in theory for a consumer to get their credit score from a Web site, a vehicle finance company, and a mortgage lender on the same day and be told their score is three different numbers.

By: ss

ss — Thu, 18 Apr 2013 19:42:49 +0000

We have a foreclosure from 2009 on our report. I understand it stays for 7 years from the original date in 2009. However, after 3 years of silence the mortgage company is now reporting late payments to Equifax which has caused our credit to drop once again. The only thing that occurred in 2013 was we received a 1099 from the mortgage company. Is there any way to stop these frivolous late payments from being reported?