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How Long Do Closed Accounts Stay on My Credit Report?

Written by Diane Moogalian on August 19, 2013 in Credit  |   107 comments

The question of how long closed accounts remain on a credit report is one of the most frequently asked on the Equifax Finance Blog. Whether you request that a creditor close an account on your behalf or a creditor closes an account after seeing a…

credit, credit reportThe question of how long closed accounts remain on a credit report is one of the most frequently asked on the Equifax Finance Blog. Whether you request that a creditor close an account on your behalf or a creditor closes an account after seeing a long period of inactivity, the account history usually won’t immediately be erased from your credit file.

Q: How long do closed accounts stay on my credit report?

A: First things first: Closing an account does not remove it from your credit report. Even if you close an inactive account, you could still have recent account activity posted on your credit summary if the creditor reports something to the reporting agencies, like a change in the report date or the account’s date of last activity, for example.

The exact length of time the closed account appears on your credit report, however, will depend on the payment history of the closed account.

There are set time periods for how long closed accounts and negative information remain on a credit report, depending on the type. Generally speaking, negative information will stay on your credit report for seven years from the date of last activity, but bankruptcies can appear on your credit report for 10 years from the date of last activity.

Let’s walk through a few scenarios to help you better understand what really happens:

Accounts in good standing: Credit accounts that are closed but were paid as agreed, will normally remain on your credit report for up to 10 years from the date of last activity. Positive information on open accounts in good standing, however, can stay on your credit report forever.

Charged off accounts: On the other hand, accounts that were not paid as agreed and charged off (meaning the debt became seriously delinquent and the creditor has given up on being paid and has closed the account to future use, although the debt is still owed) will generally remain on your credit report for seven years plus 180 days from the start of the delinquency that led to the charge off.

Account in collections: If you have an account in collections, it will usually remain on your credit report for seven years plus 180 days from the date the account first became past due. The countdown to the account falling off your credit report begins 180 days after the start of the delinquency that led to the collection. Closing the account doesn’t remove it from collections, nor does it remove the collection and payment history from your credit report.

As you continue to monitor your credit report going forward, always make sure that your negative accounts have fallen off after the appropriate period of time has elapsed.

Remember that if you have ever disputed an item on your credit report and the resulting investigation did not end in a resolution, you have the right to file a free statement in order to explain the events that led to the negative information reporting on your Equifax credit file. Once submitted, you can either edit the statement or ask that it be removed from your credit report at no cost.

Diane Moogalian is vice president of operations for Equifax Personal Solutions with responsibility for operational strategy and execution in support of customer care and fulfillment of credit and identity-related products for consumers. Prior to joining Equifax in 2007, Diane held several strategic roles with leading financial services companies. Diane graduated from the University of Richmond with a bachelor of science degree in business administration (marketing and economics) and earned a certificate in international business from Virginia Commonwealth University.

The information contained in this blog post is designed to generally educate and inform visitors to the Equifax Finance Blog. The blog posts do not give, and should not be assumed to provide, personalized tax, investment, real estate, legal, retirement, credit, personal financial, or other professional advice. Before making any financial decision, you should always consult with the appropriate professionals who can explain your options, rights, and legal responsibilities, and advise you on any tax, legal, credit, or business implications that may result from those decisions. The views and opinions expressed by the authors of blog posts are their own views and may not be the views or opinions of Equifax, Inc. and/or its affiliates.


  1. Larry McLaughlin says:

    Why does your company not correct credit report errors? I was horrified by the 6- Minutes report last night on CBS.

  2. Lou says:

    I think it’s terrible that when you payoff collections on your credit report, which mine were due to being unemployed and they still report them as collections are charge-offs for up to seven years. When persons are trying to re-establish themselves by paying off these debts it should be deleted. The credit reports still show you as a credit risk and you still
    can’t get credit. I couldn’t even get a secured credit card because they
    report the collection accounts that are paid in full.

    • john says:

      If you paid the debt in full usally you have to dispute it .
      then those companies wont responde so it will be removed or updated

      • Mitch says:

        Don’t believe that! I paid off my car and two credit cards and it is still on my credit as a negative. Due to hardship I got behind, but in the end paid it off. Won’t let me dispute it even though it has been since 2008.

        • Pam says:

          Mitch, those items can be taken off if the account has been paid in full. Do not dispute on-line; do it via mail, and request for it to be removed because it is paid in full.

          • Lindsey says:

            Do you Mail the dispute to the credit card company or the 3 credit bureaus?

          • EFX Moderator says:

            Lindsey, If you think any of the information in your credit file is incomplete or incorrect, you can notify the credit-reporting agency (CRA) directly to initiate a dispute free of charge. At Equifax, you can file a dispute online, by mail, or by phone. The mailing address is:
            P.O. Box 740256
            Atlanta, GA 30374

          • Anonymous says:

            I was unemployed for 8 months in 2012, have paid off 3 of my student loans since then, and they refused to remove the negative mark on my account. They also wouldn’t help me with deference when I was unemployed. So screwed either way. -_-

      • Paid off says:

        So I had a balance to an insurance company that I was not aware of, once I saw it on my credit I called right away and paid it. Now a month later it is still on my credit report so how do I get it off?

    • EliP says:

      There is something you can do PRIOR to paying the debt off. When speaking with the credito, make removing the collections debt from your credit report part of the payment agreement. Require a letter be sent staying that once (agreed upon) payment is made in full that the debt be poignantly removed from your credit report. DO NOT MAKE A PAYMENT BEFORE THE LETTER IS RECEIVED. Still, it can take a few months for it to be removed for your report, but if it isn’t, contact them. If they do nothing, then you can contact the credit bureau to dispute and have the letter to send them as proof.

      • EliP says:

        *permanently, not poignantly

        • Anonymous says:

          I dont think the collection agency or collector would give a letter without a payment.

          • Anonymous says:

            I’ve actually just been going through this, but in my case I was able to tell them I needed their written statement of my settlement offer and the fact that it would be reported as ‘paid in full legally for lesser amount’ to take to a family member in order to get them to agree to help me pay it, and that I would have to call them back with the payment information they gave me after receiving the letter (which I had sent to my family member directly by fax by the collection agency). I bought like a day before they started calling me again, which thankfully was enough time for my family member to agree and provide them with a payment method. This was last week, though, so I’m waiting to see how the whole thing shakes out in the end.

    • Anonymous says:

      Sorry, but it doesn’t matter if you have been unemployed or what ever other reason. If you have had accounts in collection or that have been charged off, you are a high risk borrower. Paying it back just means you’re a smaller risk than someone who doesn’t, not that you’re low risk.

  3. Karina Rizo says:

    I totally agree with Lou. I paid off all my negative accounts and they still show up as negative and collection and my credit score is the same as if I still have not paid them. What is up with that? It has to be a way that that can be changed so people trying to fix their credit by paying off an account that has been put in collections can reestablish their credit.

    • Anonymous says:

      The point of a credit report is to give the creditor a picture of what type of person the potential borrower is (financially speaking). Just because you suddenly became financially stable enough to pay off your debts does not mean you’ll never do it again. It’s like trusting a heroin addict who has been sober for a few months. I wouldn’t loan him money either.

      • Kurdistan says:

        You work for the bank we know that

      • Anonymous says:

        Please don’t compare people who lost their jobs and fell behind to Heroin addicts!
        I have always paid my bills on time and currently doing so. My husband i worked for the same company and we both got laid off and we fell behind.
        S… happens and i find it sad that because i had 1 rough year i am now going to pay for it for the next 10 years!!! doesn’t seem right to me!

        • Anonymous says:

          perhaps you should have saved money in the bank for such a rainy day? or not over extended yourself? A bank will your situation as a very different credit risk vs someone who saves and doesnt allow themselves to be in a situation. You act is if the banks are REQUIRED to loan you their money?!

          • Anonymous says:

            You are an ignorant boob. Even people who saved for a ‘rainy day’ have unforeseen problems. You shouldn’t compare hard working people who have lost their jobs to heroin addicts.

          • anonymous 14 says:

            Love this!! You could be writing the same advice to all the banks that needed the bail out 🙂 Where was their rainy day fund??? Seems this system doesn’t work both ways does it????

          • Anonymous says:

            I don’t think you can plan for everything!! I never in a million years would’ve thought that I would have a 4 year old child diagnosed with cancer, not be able to work for a year because I had to care for him or that I would rack up $15000 in medical bills. Things happen. I had great insurance at the time and disability insurance yet that wasn’t enough. I also did not get qualify for FMLA because I am a teacher. We also had nothing saved at the time because I had just returned to work after suffering a brain injury and being off work for a year and a half. My husband also lost his job at that time because he had to stay home and care for me.

          • Jake from B & ? says:

            It’s not real money nor does the bank own the money.

          • Anonymous says:

            this guy has had life great & is looking down on people with real situations like “welp, maybe you shouldn’t have lost your job”. People like that are the reason the country is in the state that it is now.

          • Anonymous says:

            Banks would not have any money if they did not have customers keeping their money their. Banks are crooks period.

      • Anonymous says:

        I have been paying off past debt for over 4 years, everything is paid in full. But it still shows everything negative even though I have had new credit cards that have been paid on time for well over a year now. I don’t think negative credit should stay on your report for 7 years, maybe more like 5. I agree that you should have to prove that your old habits have changed but 7 years is a long time and is frustrating to people like me who have been consisting paying one time for years now.

      • love7 says:

        Oh come on seriously. I was in college just graduated got in a major car accident didn’t have insurance or a job and u couldn’t pay the hospital bills so they immediately put in collections. A lot of students have that problem even with credit cards bc they did have great credit at 25-27 yrs old and then couldn’t find a job or is still in school. Btw hungry and poor bc we have no money and doing it without anyone’s support and that was the only way. I graduated college and have been able to pay all those off..and showing as negative even though they have been payed. If I was irresponsible I wouldn’t have been so worried or much less bother to pay them off if I knew I could wait 7 yrs. Don’t judge if you had it easy.

      • CreditScoreScams says:

        This is the DUMBEST response ever! All a Credit Score is to a bank is how profitable you are or can be to them. People, please don’t buy into this whole stupid credit game. If your score is bad, clean it up, dispute constantly, pay off you bad debt, and start paying for everything in cash, or via a debit card directly. Don’t use credit cards, avoid loans as much as possible. Credit scores are a scam created by the banks to force more people into debt. Don’t play their game! Don’t buy what you can’t afford and if you do get a loan, pay it off early….. Very early.

      • Anonymous says:

        The heroin addict analogy is way off base. Losing your job is not a personal decision… taking heroine is. See the difference?

        • me says:

          Losing a job can be a choice if your stupid and act stupidly on the job , ie punched your boss in the face you decided to loose your job , point that economic downturn is unavoidable , but if you loose your job call your loan officer or credit cards let them know the situation and often they will work with you in some way at the end of the day they want paid and they honestly don’t care if they get paid today or next year as long as it is paid . Sorry for punctuation and grammar

      • Cheryl says:

        I think the credit reporting agencies should document the the report to show the causes for why a person was late paying a bill- why they are behind in their payments or why they filed bankrupt. They should be reflected in their report. If it is due to something out of the person’s control and they can show proof they agencies should not be so hard on the credit rating. For example: I purchased a home on the water and 7 years later the city- county comes to my house and tells me the lower level was against the rules because I lived in a flood zone and the that the lower level was never permitted and that I needed to bring it back to code. Doing this would have cost me $60K to bring into code. I did not have the money to do it. So I filed Bankruptcy.

  4. lloyd says:

    If a collection account is paid it should be removed,,,, that’s my opinion,,, why even bother paying a collection if its still going to screw up a credit report..f#@+ it I guess ill just wait 7 years and keep my money.

    • ^^WHAT HE SAID says:


    • Riz says:

      But the trouble is that defaulted account stays for 6 years on credit report and after NOT settling it can stay for further 6 years as closed account( in settled). Open for correction guys.

      • Anonymous says:

        Not even remotely close to true. The longest they can be on your report is seven years 180 days from the date of first delinquency, and most CRAs exclude them at the seven year mark or even earlier if you request an early exclusion.

    • Buzzard Man says:

      I’ve worked with creditors when paying off an item in collections. Speak with the company first about paying the debt to them directly, instead of to the collection agency, and make part of the agreement to remove that item removed from any credit bureau(s) they reported to. I had four items removed.

  5. John L. says:

    The only conclusion is, when an account goes into ‘collection’ accept the fact your credit score will suffer for 7 yrs.

    Credit reporting companies (Equifax, Experian & Transunion) accept data from their (paying) reporting members only. Affidavits & bonafide court/ public documents are not accepted by Equifax, Transunion & Experian. Their ‘business model’ is a blatant government sanctioned/ protected cartel.

    So everyone w/ discharged mortgages, divorce decrees, expunged convictions, etc. forget thinking Equifax, Transunion, Experian, et. al. will accept & enter the obviously valid documentation into your credit file.

    Reporting members are not known for their generosity in assisting non-members in clearing up old accounts & sullied reputations.

    And no, individuals are not eligible to be ‘reporting members’ – not even for a (steep) membership fee.

    • Anonymous says:

      Well john, you must not know what it’s like to fall on hard times…

    • George says:

      Not true at all in regards to my situation. I had a “Public Record IRS Tax Lien” on my reports. The IRS Lien was from 2007, and was a 1040 Lien (in other words it was a non paid tax year, not a property lien) and it “self-released due to expiration of law (IRS Code 6502(a)).
      The county never removed the notice and the Credit Reporting Agencies continued to show the lien on my report.

      I notified the IRS that I needed that lien to be removed from public record. They sent me a written letter stating that the lien was non longer valid or enforceable. I took that letter to the County Clerk, and they out in their system that the lien was released per IRS. I then took the IRS Letter and the County Clerk’s paperwork, and sent them to all 3 Credit Reporting Agencies, and they all 3 removed it immediately.

      I have had no issues or problems from either TU, EQ, or EX in clearing items off that are not legitimate.

      • Malcom says:


        Hello, if by chance you read this. Could share the steps you took to achieve this positive outcome? Thank you

  6. Robert M. says:

    I’m sorry but I’m still not so clear on this…
    I have an old Chase credit card account that was cancelled due to delinquint payments exactly 7 years ago this past December (12/2006) – Is that considered the date the account first became past due? My report shows that the last payment I made was on 4/2008 – well after the account was closed. So, will this “drop off” my credit report 180 days from now, or 180 days from 4/2008?

  7. Anonymous says:

    credit reporting agencies are bottom feeders and are there for 1 purpose and its to ruin good ppl who went through a rough spell. hell i have stuff showing on mine that has been closed for 10 yrs. so the 7yrs is a bunch of shit. they work with the credit reoair ppl to so they can get yor money that away as well

    • George says:

      Neither Agency will automatically clean your report up, even if items are 10+ years old. It’s up to you and I to monitor and keep that report clean, or as clean as possible.

      If there are items 1o+ years old, a simple dispute will take care of those type of items. Providing they are not a Tax Lien or Bankruptcy which both can remain for 10 years.

      Remember in Corporate America EVERYTHING is a CONTRACT! Your silence in any matter is your acceptance of that contract. It is up to you and I to be vocal, and consistent in making sure that any information on any credit report is verified or disputed.

  8. Anonymous says:

    Well I have items on mine that don’t even belong to me, been trying to get them removed, but, have had no response from anyone.

  9. anonymous says:

    I live in NYS and I had a paid judgement which was filed 3/2009 removed by experian & transunion because it was five years. Equifax will not remove it next month. Why? All agencies should be on the same page.

  10. Credit's complicated says:

    I don’t think people who have excellent credit and look down on people who don’t will ever understand until they have been in our shoes. I had excellent credit and paid all my bills on time. Then boom one day got laid off! went through hell trying to support my family and had to choose. Food on the table, lights or credit. I wish I could have made it all work but no way. Now my credit is shot and had to file bankruptcy just to try to get things back on track and now can’t get any credit to try to fix anything. It’s all a hot mess when it comes to credit. And just because my life took a turn when I lost my job and had to make choices doesn’t mean the I will allows be late on my payments and I am a bad risk. Which I understand creditors don’t care about our situations at all.

  11. Waited out the 7 year curse says:

    What it boils down to is once an account is closed for negative reasons or goes into collection status, there is really no reason to pay it off. Paying it will not change the negative impact it had on your credit, and it will be there for 7 years regardless of whether you end up paying it or not. Once the state statute of limitations has been reached, you cannot be sued or have any legal action taken against you. In Georgia, this is after two years. Each state is different, but very few are for the entire 7 year period. I say save your money so you can pay cash for what you need during the 7 years that the account messes up your credit!

    • George says:

      Not sure I’d agree. The Reporting Agencies only report what is sent to them. If you ever agree with a collector (get it in writing) and they accept payment in full and agree to remove that item, the credit bureaus could care less about it remaining on there and will remove it.

      I had 2 collections for medical accounts.
      We worked out a paid in full agreement, they sent me a letter stating that once payment is processed and cleared, they will remove the accounts from my credit report. Once paid, I didn’t even have to do anything, Stern & Associates removed both items.

      I started in August of 2014 to clean up (2) Medical Collections ($707), (1) Federal Tax Lien ($14,365), (1) Dept of Education Student Loan ($671), and today is May 2015.
      I started with a 520 Credit Score and no credit cards. After all the reading and work, I now have a 687 credit score, a Chase Freedom Card, Discover It Card and a Capital One Platinum Card. Between all 3 I have a total balance of $283, and that’s just to keep some payments to gain credit score.

      The point of this, is that I had many items that I thought would never be removed, but with persistence and drive, and educating myself, I fixed all of it in less than a year.

      Now, I get pre-approval letters every day almost, and they go right in the trash.

  12. Good people have bad credit! says:

    We were going to file bankruptcy but we can only file a chapter 13 and the restrictions on that are insane. I was wondering about my charged off accounts and I figured out that so far 15,000 of my debt has been charged off. In reality this means that the total that I would owe for bankruptcy is actually 15,000 less as I reported those bills also. Is this a correct assumption?

  13. Erin says:

    Ok I have a question. I had a credit card and they closed it because I took out a student loan which lowered my credit score. I still had a balance on the credit card when they closed my account. Is the 10 year rule still true if the lender was the one who closed my account and not my choice? If so, when does the 10 year period begin? From the date I pay off the balance? Or from the date the account was closed?

  14. Marie says:

    I am in the process right now of fixing my credit. I am doing this all on my own. No help from settlement agencies. I have accounts in collections, accounts past due and charged off accounts. What I am doing works for all of them. I send a certified letter to the company with an amount I am willing to settle for, usually 40%. with the stipulation that if they accept my offer once the settlement is paid they must remove their account from my credit report. Then if the company accepts this they send me back a letter with their acceptance and agreement to my stipulations in writing. I keep copies of everything. And check my credit report 3 months after payment, this is how long it usually takes for the account to be removed. The companies can do this, its within their power. It is their job to do this if they want money. It works try it.

    • Rachel says:

      Is this for the company (the company’s collection office) the debt is with or will it work for a collection agency that is handling the debt?

    • Miami says:

      It’s amazing how some of them will rather not get any money at all before removing the account from your report while getting at least part of it. I was able to successfully remove some information from my CR that should not have been there, but I called a medical collection agency that owns 3 of my collection accounts to settle and have my negative info removed and they flat out refused…oh wells, since it will stay there for years and make no positive impact on my score then they won’t see a penny from me.

    • Chantel says:

      Marie, great advice… Just curious, is it still working out for you? I have medical bills in collections, trying to decide if it’s worth paying them off. Your way seems to be effective.

    • KC says:

      I also settled my accounts on my own ~ 4 years ago; I wish I’d thought of asking them to remove it from my credit reports though as that would have saved me a lot of time trying to build my credit back up. I’m in my 4th year of 7 years to clear the delinquent accounts and have a score of 654 – It’s not as bad as I thought it would be and even have been able to open credit cards up (I pay them off every month now)

      If you are wondering if you should pay a company to settle your accounts – don’t do it, have patience, tenacity, and a strong will-power and you can settle them all on your own (and save yourself money and potential scam companies. I settled most of mine for 30 – 33 cents on the dollar.

    • Anonymous says:

      try , but your bad credit will always show

    • Michelle says:

      Hi Marie – I realize your comment was a year ago, but I’m in the same situation as you and was wondering if that worked well for you? Thank you,

  15. Todd says:

    Wish I would have read this page and comments a few months ago, when I paid nearly $3000 in past due accounts to get all my past dues paid off. Only to find they are still on my credit report, and after contacting each credit bureau with proof of payment, they all tell me the debt is “valid” and in other words, are still going to show up negative until they eventually fall off. So not only am I out $3000 but have nothing to show for it. #%^@& the credit bureaus!

    • me says:

      You bought stuff agreed to paid for said stuff later and with intrest paid if off late or something your not out 3000 you got got said stuff

  16. Marvin Beckform says:

    the big 3 credit report agencies are a scam for big business…. Low credit or a well damaged credit scores equal billions of dollars in outrageously high interest rates on sub-prime loans, pay day loans, and debt collection companies.

    These agencies collect information on you sell it as fact. We are pushing for a method that ensures you are notified and given an opportunity to dispute data before it is added to your report as fact before they can deliver their false misleading product that causes long term harm to families. And if a agency sells or electronically delivers information that you can prove is false you will be allowed to take action against the agencies delivery of harmful slanderous information. Please get on board when the opportunity arises.

    • E. Munyan says:

      I would gladly sign on with whatever group would rein in these highway robbers. How do I do that? Who should I contact in PA?

    • Fed Up!!! says:

      You should give more information on this I would be glad to help push this into LAW!!

  17. dead girl says:

    My report says I’m deceased. I have been trying to have it removed for years.

    • Tamara says:

      That’s what I am doing. Waiting to the end to pay it since it won’t be removed. But sometimes u can talk to the creditors ans make an agreement of removal. Usually takes 3-6 months

    • Pete says:

      Hummm…That brings up another question. How long does your credit report stay active after they report you as deceased? Not much use to anybody I would think???

  18. Amy says:

    Ok. I have a question. I returned a car in 2009. I knew it was going to be a hit what I didn’t expect was for the company to just now turn it in as voluntary repossession. So even month for the past 5 years I have gotten hit for late payments. Well not true there is a huge chunk of time they reported no data then one day just decided to start hitting my credit again. What is the statute of limitations on these things. Is there a time frame where they can report certain things? I’m not upset about the initial hit because I knew what I as getting into but the continued issue is really a beating.

  19. Pete says:

    While not paying off a debit because it stays on your report anyway sounds like a good idea, remember that a collection agency can bring a law suit against you and sue for the entire amount. A judge can have the money garnished from your pay check if you work and it STILL will remain on your report as neg. credit. The only way around having to repay is if you are old enough, start collecting social security. They can not garnish your social security. It’s protected income. If you are at that age, who cares that much about great credit? That’s what kids are for..lol. Seriously though, be careful of being sued if your bad account is within the statute of limitations…and it does vary by state. Hope this helps someone.

  20. HELP!!! says:

    What happens when you use a debt settlement company to act on your behalf for credit cards and personal loans? Is the seven years plus 180 days stay on my credit history when I first started using the debt settlement company to settle my accounts or is the seven years plus 180 days after the account is closed by the debt settlement company and the creditor?

    • EFX Moderator says:

      If you close a credit account that was paid as agreed, it will generally stay on your credit report for up to 10 years from the date of last activity. If you close an account that was not paid as agreed and charged off, on the other hand, it will typically stay on your credit report for seven years plus 180 days from the start of the delinquency that led to the charge off. I hope this helps.

  21. rob says:

    if an account has been closed for more than seven years can a collection company reopen the account to collect money?
    and if I refuse to pay the collection company can they re add it to my credit report?

    • Anonymous says:

      They cannot report something again. Once it’s removed it cannot be put on by that company again. But if it’s moved to another collection agency to collect they are able to report again.

  22. Jesse says:

    What if your credit debt status is showing past the 7 years. If its 7 years in aept of 2015 how can the status say it will cont. Into 2016

  23. crazy says:

    so why even pay off a bad credit card then if they are going to keep it on my file

    • The Grinch says:

      I love all of the people on here wondering whether it’s worth it to pay off their debt if it’s just going to show up on their credit report as a negative anyway. Here’s your answer…..YES. You incurred the debt, now pay it. The Democrats have created monsters. Most of the people posting on here are the exact reasons credit reporting agencies exist. To mitigate risk when lending THEIR money!!! With some of the statements I’ve seen in the above posts, no wonder they are having financial problems. No personal responsibility.

  24. cory says:

    Imagine you only debt being old hospital bills from 5 years ago when I was barely making enough to get by. Now I’m ready to buy a house, and start my family but due to my appendix going out, that seems out of the question. I found out I had 6 separate collections accounts from the different medical agencies I dealt with.

  25. NOBODY. says:

    Its like a driving ticket . these companies , bailed out by our government. they take ADVANTAGE, EVEN THOUGH WE, THE STRUGLING DEBTOR TRY TO MAKE GOOD. THE GET TO KEEP ALL OUR INTEREST PAID. AND THEN PUT US ON A LIST. BAD CREDOIT.


  26. Anonymous says:

    OH YEA I GOT A TICKET WHEN I WAS SEVENTEEN, AND IT SILL AFFECVTS MY CAR INSURANCE? I am 58. Duh. another excuse. to mess me over. well. I will drive without insurance if I have to.catch. me if you can.

  27. Almost DEBT free says:

    I to have had a battle of bad credit, all from collections to charge offs. I was 18years old when I started using my credit…by the time I was 19 my credit was bad! I was very irresponsible. I would open credit cards, use them and not pay them. Now, as a matured adult, I see the Importance of credit. To buy a house, to get a good low rate on a car…etc. So I started the journey to clean up my own credit and let me tell you, it definitely works. I gave had inaccurate information on my credit removed, old accounts(over 7 years) removed.. and accounts that I needed to pay, I settled a price(no more than 25%) with them if they agreed to remove from my credit….which they did! It van be done but you have to send dispute letters to the credit bureaus. You can find these sample dispute letters online. Send all letters certified mail and save the receipts….They have 30-45 days to answer or it automatically has to be deleted. I started with 17negative accounts, now I’m down to 3. I have credit card companies sending me credit offers already. Clean up your credit!

  28. 2 steps back says:

    I have Four cards Closed by creditors under a Debt pay program. This started in 2010 and is to last for Five years of payments. I did NOT ask to have them closed back in 2010. They said in order to join their Debt recovery program they would close them. I am now into 12 payments left of my long journey. After reading all these comments I now fear I have created more set backs. So even after I pay these off in 2015 I will have to wait ten years to see them drop off my report? That would mean 2025! Holy cow, I’m beginning to respect folks who chose the bankruptcy avenue in favor or a shorter term of hardships.

  29. Calen says:

    Why is it possible for a credit card company to lower your Credit Limit for whatever reasons they choose, despite the CONSTANT Paying As Agreed (NO delinquents at all), which puts your ratio in a Negative status. If I have $5000 credit limit with $2500 balance, I’m doing good. But then the Creditor drops my limit down to $2500, without notice, I’m maxed out on my credit card, which is Negative for my score/report.

    Who is the department, or “governing agency” to direct questions, and mad mail to?

    • Unanimous says:

      You think that’s bad? I once had a credit card drop my limit from $2500 down to $750, when my balance was around $800. Not only was it maxed out, but over the limit! Then they had the nerve to charge me a fee for being over my limit, when they were the ones that dropped my limit below the balance.

  30. TryingToPayOffDebt says:

    Will the writing of the letter stating you’ll pay if they remove it from you credit report work for the debt collection companies that have my medical bills? They are half of my debt and some of my husbands.

    Should I call and work out a settlement price first or figure out a reasonable payment on my own and just include it in the letter?

  31. needhelp says:

    i had 2 credit cards back in 2007 that i did not pay on my name was send to a collection companies now 8 yrs later im trying to get my credit right i see both card on my cr should i pay them off or wait and see if they drop off now that it’s been 8 yrs

  32. S.SImpson says:

    I had an apartment eviction of 1500 after I paid it off, which was probably 5 years later it showed on my credit report paid but it remained on my report for 2 more years then it did fall off after the 7th year you also have to put it in writing and send it to all 3 credit depts that it is paid in full and after the 7th year it will come off sucks but that is how it is set-up and there is really nothing you can do about it unless the rules change I think if you pay it in full it should fall off after a year not 7.

  33. frustrated says:

    I have accounts that are older than 7 year hanging on my record. I have no idea how to get them off.

  34. Better to try and pay says:

    Those of you saying what’s the point of paying a collections debt if it won’t fall off for 7 years anyway, it’s better to try and work out some sort of payment plan. Some collections companies will go after you, contact the courts, and try to get judgement against you, which is even worse. I was hit by 2 different collection companies who tried to do just this. By the time you get a certified letter, the clock is already ticking to try and figure out what you’re going to do. You can either go to court and lose, or do nothing and judgement will be granted to the debt collector and either the court will contact your employer and your wages will be garnished, or your bank account will be frozen until your balance is paid in full. I knew the debt was mine and even though I had very little income, I was able to set up a consent judgement with both creditors before they could take me to court and I would then be expected to pay them both in full plus have a public document on my credit report. I gave them a number I could pay monthly toward my debt and of course 1 tried to get me to pay more, but honestly they just want to get paid so if you can’t out right settle with them, you can set up a monthly payment plan and as long as you pay on time every month, they won’t report the judgment on your credit report or come after you any further. If you default, they can immediately garnish your wages etc. Yes the account still stays on your report but it beats having to shell out the entire balance at once that you don’t have. I have learned to live on an intense budget and can’t really go out or do anything, but I’ve almost got 1 paid. The other will take a while but I will get there. My goal is to eventually pay all my debts off, wait it out by using cash and eventually start to rebuild my credit.

  35. Frank In Az says:

    So my question is different I have closed accounts that are older then 10 years, they are all positive and balances where paid off, they got closed because of not using them. If I request to have these closed accounts taken off, will that affect my credit score? Does having them on my report help at all?

  36. Moses says:

    I was sued for non payment at an apartment home. Turns out it was identity theft and I recived all paper work of lawsuit close after I proved my self. It has been 3 months ago and still shows on my credit report as active collections and was last reported this month as in going. What can I do if this case was resolved. I have apartment management, and third parties and court all closed case and they are still reporting and to credit as active and on collections?

  37. Jeanne says:

    I have a credit card on my Equifax Credit Report that says that the last payment was made on January 1, 2008, the account was closed August 1, 2008. Isn’t it 7 years and 180 days for the account to fall off my credit report from the date of last activity/payment??? Is this something I should dispute??? Or does this extra 180 days begin when the account was actually closed/transferred-sold?

  38. Paul says:

    Question…I had a cellular account with Nextell from 2006-2009. In 2011 it was sent to collections. After recently monitoring my credit I noticed that it is still being reported as of last month. Is there not a certain length of time that a company has to send a deliquent account to collections?

  39. Pia says:

    I opened a credit card to help get a mortgage… I got a mortgage and didn’t need the card at all. Naive as I was. I didn’t realise that I had to close it (as I simply never used the thing!)
    A year or so on the bank told me I had ‘fraudulent’ activity on the card- that being, that I had never used it! I have tried over 8 different attempts to close this account via, letter/ phone call/ visit to the bank and still no joy- it still shows on my credit report as open? (I would have trusted the first person who told me it was closed?! – only glad I have the credit report to show)
    Any advise how to get this done and dusted? Can you tell me if.. Regardless if it’s closed or not- will it still show on my credit rating..? If it really is closed.. How long from the time it gets closed, does it take to come off the credit report please??

  40. Emily says:

    If your credit report has discharges
    charge off or closed accounts for seven years plus the 180days and you request to remove them do the credit agencies remove them or they have to get in touch with the companies first?

  41. VP Banker Retired says:

    I am a 58 year old borrower and have a problem with “all” of my “old”, excellent credit falling off of the credit bureau reports which has severly “lowered” my credit score. Now the credit bureaus are showing my average borrowing history between 3 to 6 years with only 4 to 6 accounts which is rated as “poor” on the scoring module even though they have all been paid as agreed! I had a mortgage for 17 years, credit card and car loan which I “always” paid as agreed but all of that excellent payment history fell off of my report after being paid off for 10 years! Credit Scoring is “frightful”! How can I get 20 years of excellent credit history since all of my recent credit is “new” and my old credit fell off? I am already 58 years old! By the time I achieve that “excellent” score and get a lower APR offer on a car loan, I will be 78 years old! Maybe I am an “old school” Banker but I always considered the “entire” picture when approving and pricing a loan! The Credit Score is “not” a clear reflection of a person’s borrowing and repayment history. GOOD CREDIT should ALWAYS remain on the credit reports! I am the same “human being” that I was 10 years ago when my loans were paid off! SO UNFAIR!

  42. Katie says:

    So in short if I don’t pay closed accounts how long will they remain on file and if I do how long will they remain on file? Many thanks

  43. Domonique says:

    Some of my information is wrong starting with my birthday. Somethings shouldn’t have been on report at all.

    • EFX Moderator says:

      Hey Domonique,

      We would like to help you address your matter. Please submit your matter/inquiry, along with with your legal name, city/state, & email address used for EFX registration, to equifaxsupport@facebook.com so that a Customer Support agent can respond to you directly.

  44. Anonymous says:

    It is sad, I want to clean up my credit, I have a debt 4 months short of 7 years that I am willing to pay off, but if I do my credit will be tarnished for 3 years as (Settled) or (R9 BAD DEBT Account paid) if done properly or even possibly another 7 years if I just pay without proposal. Instead I will just wait the 3-4 months left and it will disappear (purge) due to lack of activity. I looked at this system and “for the best” doesn’t mean paying your debts in my case. Just wait it out. That’s too bad for the creditor as I now have no incentive to pay, especially that I don’t feel I owe the money in the first place. The beauty is because I didn’t know about this debt, it is the only tarnish I have on my credit. I feel good knowing I’m out of this hole very soon, but I agree that nobody deserves this no matter what the history.

    My advice: Take a close look at the law, the purge guidelines when you request a copy of your credit report and the dates of last activity. Collection agency’s date of last activity are often faked to extend the duration of the impact on your credit, compare it to the date from the original creditor which should be date of last payment.

    Make the best decision by time-frame: You want perfect credit as much as possible, bad or ugly doesn’t make much difference these days, you either get the 0% APR or you don’t. In 4 months my credit is shiny clean not because I paid off all my debt late for whatever reason anyone may have, but because I realized if I just let the timer go it would take less time to get my credit back without the turd on it. Better than if I paid a single penny and reset that 7 year timer!! I have fun with the creditor now. He has been calling me more than the 3 allotted times per week i have just sent a written notice. if he does it again a complaint goes to the ministry. There are ways to stop these calls too if you are unwilling to pay. Send a written letter requesting correspondence by mail only. 🙂 SPAM!

  45. PJ says:

    I have a credit card that on my credit report says paid as agreed but is listed as a negative account. I called the card company and asked to have it removed asa negative account. They said Equifax put it in anegative status because of a late payment. I dont disagree with that but it was 5 years ago. The card company also saidthat my account is in excellent status. So i disputed the info with Equifax. I call to check the status. They told me they did process the dispute. Theyare verifying with the card company if the negative status is correct or not and did I have any late payments. WAIT A MINUTE!!! I didn’t ask them to verify if I had late payments, I asked them to verify if theaccunt was in good standing and to take it out of a negative status. So of course they will get te answer of late payments which is not what I am asking. I just want it out of negative status and listed as an excellent account like the card company is saying. What do I do to get this to happen?

  46. Anonymouse52 says:

    Why would an auto loan or credit cards stay on my credit report when they were paid off in good standing? I have some that are on there 7-20 years later!!!!

  47. Big Bob says:

    I just had a account closed, and my score droped 18 points.

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