free credit report rules
free credit report rules
Negative credit file to drop off in 2009??
I just ran my three free credit reports that I am entitled annualy. I have 2 negative credit files from my past. The worst one which is from 2002, according to Trans Union will drop of in feb of 2009. That would be consistent with the seven year rule.
Does that mean that if Trans Union says it will drop off their sheet, that it will also happen in Experian and Equifax? My score should get a huge boost when that’s out of my hairs.
The account is paid in full and closed.
Yes it is in line with the 7-year reporting rule and yes it will drop off of all credit reports.
But, don’t look for a huge change credit scores are mostly made up of the last 24 months of history so anything that is 7-years old is having very little affect.
Additional information.
What Michelle is describing is a violation of the Fair Credit Reporting Act and is easily fixed, all you have to do is dispute these accounts with the credit bureaus as being both beyond the allowed reporting time and as being re aged by the collection agency’s and they will be removed.
This is also punishable by a $1,000.00 fine per violation under the Fair Credit Reporting Act you must take the collection agency’s to small claims court and sue them to collect this money.
