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InvisibleDiploidM
Cuban


Folding@home Statistics
Registered: 01/09/03
Posts: 19,274
Loc: Rabbit Hole
Credit Reports
    #21525638 - 04/09/15 07:01 PM (9 years, 1 month ago)

Does anyone know how long a derogatory entry remains on a consumer credit report?


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Republican Values:

1) You can't get married to your spouse who is the same sex as you.
2) You can't have an abortion no matter how much you don't want a child.
3) You can't have a certain plant in your possession or you'll get locked up with a rapist and a murderer.

4) We need a smaller, less-intrusive government.

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InvisibleSun King
 User Gallery

Folding@home Statistics
Registered: 02/15/14
Posts: 4,069
Re: Credit Reports [Re: Diploid]
    #21525694 - 04/09/15 07:16 PM (9 years, 1 month ago)



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InvisibleDiploidM
Cuban


Folding@home Statistics
Registered: 01/09/03
Posts: 19,274
Loc: Rabbit Hole
Re: Credit Reports [Re: Diploid]
    #21525723 - 04/09/15 07:22 PM (9 years, 1 month ago)

Yeah, I know Google is my friend, but I was leading up to something...

As I understand it, bad things drop off seven years from the last activity.

But here's the thing. I'm helping a friend improve his credit score. He bailed on about $2000 worth of credit card dept a few years ago and wound up in collections. He never paid.

Now it's been more than seven years, but the collection agency keeps updating his credit report entry twice a year even though the account was long-ago charged off by the original creditor. By definition, he cannot use the account in any way, so what's to update?

How does it work that a credit collector can keep doing these bogus "updates" indefinitely and stay on the record past the seven years?


--------------------
Republican Values:

1) You can't get married to your spouse who is the same sex as you.
2) You can't have an abortion no matter how much you don't want a child.
3) You can't have a certain plant in your possession or you'll get locked up with a rapist and a murderer.

4) We need a smaller, less-intrusive government.

Extras: Filter Print Post Top
InvisibleSun King
 User Gallery

Folding@home Statistics
Registered: 02/15/14
Posts: 4,069
Re: Credit Reports [Re: Diploid]
    #21525771 - 04/09/15 07:31 PM (9 years, 1 month ago)

Enlil knows a lot about credit repair.


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