snoopbealybob Posted May 7, 2003 Report Share Posted May 7, 2003 When negative items are supposed to drop off a report, is it 7 years from date opened, or 7 years from status date? I have unpaid hospital bills from 1995 still showing, but the status date is 2000. There have been no payments made on the account, so is something being done to keep this account on my record? Also, if it is from the date opened, how do I get it off my reports with the agencies? Link to comment Share on other sites More sharing options...
Swede Posted May 7, 2003 Report Share Posted May 7, 2003 <blockquote>Originally posted by snoopbealybobWhen negative items are supposed to drop off a report, is it 7 years from date opened, or 7 years from status date? I have unpaid hospital bills from 1995 still showing, but the status date is 2000. There have been no payments made on the account, so is something being done to keep this account on my record? Also, if it is from the date opened, how do I get it off my reports with the agencies?</blockquote>Hi and welcome-Check this link for more informatio on the 7 year reporting period. It's goes from the first missed payment that led to the delinquency of the account and it doesn't matter if you made payments after that or the account was transferred to a CA http://www.debt-consolidation-credit-repair-service.com/cgi-local/cutecast/cutecast.pl?forum=1&thread=3411 Link to comment Share on other sites More sharing options...
thefall Posted May 7, 2003 Report Share Posted May 7, 2003 Maybe we could post "core concepts" as post-it notes somewhere on this board.Thanks Link to comment Share on other sites More sharing options...
BrassFan Posted May 8, 2003 Report Share Posted May 8, 2003 So...if I understand correctly....I had an account that charged off before Dec. 1997. This account can only remain on my report for 7 years from the date it was charged off, regardless of whether or not it was sold to a collection agency?Thanks. Link to comment Share on other sites More sharing options...
Swede Posted May 8, 2003 Report Share Posted May 8, 2003 <blockquote>Originally posted by BrassFanSo...if I understand correctly....I had an account that charged off before Dec. 1997. This account can only remain on my report for 7 years from the date it was charged off, regardless of whether or not it was sold to a collection agency?</blockquote>Yep- and the charge off will occur 180 days after non-payment to the OC (as per Federal Banking Laws and for open ended accounts) Link to comment Share on other sites More sharing options...
Swede Posted May 8, 2003 Report Share Posted May 8, 2003 <blockquote>Originally posted by thefallMaybe we could post "core concepts" as post-it notes somewhere on this board.Thanks</blockquote>Great idea~! Link to comment Share on other sites More sharing options...
BrassFan Posted May 8, 2003 Report Share Posted May 8, 2003 <blockquote>Originally posted by SwedeYep- and the charge off will occur 180 days after non-payment to the OC (as per Federal Banking Laws and for open ended accounts)</blockquote>Hmmmm....very interesting....what if they waited more than 180 days??? Would I have any recourse, even if it's paid now? Link to comment Share on other sites More sharing options...
Swede Posted May 8, 2003 Report Share Posted May 8, 2003 <blockquote>Originally posted by BrassFanHmmmm....very interesting....what if they waited more than 180 days??? Would I have any recourse, even if it's paid now? </blockquote>How do you know they waited more than 180 days? Link to comment Share on other sites More sharing options...
BrassFan Posted May 8, 2003 Report Share Posted May 8, 2003 <blockquote>Originally posted by SwedeHow do you know they waited more than 180 days?</blockquote>Well..I'm by no means certain...but on my CR, it shows 7 consecutive months of 120 day late, *then* it shows as charged off. If it was already 120 days late, and they kept it for 7 months before they charged it off...wouldn't that be more than 180 days? Of course, that could just be when they actually reported it.. Link to comment Share on other sites More sharing options...
Anonymous Posted May 8, 2003 Report Share Posted May 8, 2003 Ok, now I have a question.what if I have an account dated 1997, but charge-off is not listed as the status. (coll acct or 120days late)how does this apply? If its that old is it charged-off? Link to comment Share on other sites More sharing options...
snoopbealybob Posted May 8, 2003 Author Report Share Posted May 8, 2003 I understand the laws about the date of delinquency, but so then what is the "status date" on the reports? I can't seem to find anything on that, and what is it used for? Is that what the creditors are trying to use for the 7 years? For example, the date opened would be 1997, and the status date is 2000. No payments were made, so what gives with the other date???? Link to comment Share on other sites More sharing options...
Swede Posted May 8, 2003 Report Share Posted May 8, 2003 <blockquote>Originally posted by BrassFanWell..I'm by no means certain...but on my CR, it shows 7 consecutive months of 120 day late, *then* it shows as charged off. If it was already 120 days late, and they kept it for 7 months before they charged it off...wouldn't that be more than 180 days? Of course, that could just be when they actually reported it.. </blockquote>That's exactly what I was getting at, maybe it's the way they reported it. What CRA is the listing on? It'll help to know cause they each use different fields to calculate this. <blockquote>Originally posted by cousinwhat if I have an account dated 1997, but charge-off is not listed as the status. (coll acct or 120days late)how does this apply? If its that old is it charged-off?</blockquote>What report are you referring to and what field are you referring to when you say "dated 97"?<blockquote>Originally posted by snoopbealybobI understand the laws about the date of delinquency, but so then what is the "status date" on the reports? I can't seem to find anything on that, and what is it used for? Is that what the creditors are trying to use for the 7 years? For example, the date opened would be 1997, and the status date is 2000. No payments were made, so what gives with the other date????</blockquote>Status date is whenever they last reported anything, whether payment, transfer to collection, responding to a dispute etc- it's not to worry about really.Each CRA uses a different field for the 7 years. EQ uses the "last activity" fields, EX has a notation stating how long the account will be reporting and TU uses nothing- you have to call them up. Link to comment Share on other sites More sharing options...
snoopbealybob Posted May 8, 2003 Author Report Share Posted May 8, 2003 What do you mean "different field?" They can't use the last activity to calculate the 7 years, can they? I thought it was the "date opened" column on the reports? Why does this have to be so confusing???? Link to comment Share on other sites More sharing options...
Swede Posted May 8, 2003 Report Share Posted May 8, 2003 <blockquote>Originally posted by snoopbealybobWhat do you mean "different field?" They can't use the last activity to calculate the 7 years, can they? I thought it was the "date opened" column on the reports? Why does this have to be so confusing????</blockquote>No the 7 years doesn't start when the account is opened, it starts when the first missed payment occurred that led to the charge-off plus 180 days for account added after Dec 1997. Don't worry, do lots of reading and it'll get less confusing. Link to comment Share on other sites More sharing options...
BrassFan Posted May 9, 2003 Report Share Posted May 9, 2003 Ok...I've done some more research, and here's what I found out about my situation--regarding the chargeoff.It was settled for less than full amount in October of 2001. Yet, according to EQ, it was reported as "120 Late" every month between May 2002 and Dec 2002. From then on until now, it's reported as "OK". Experian has it listed as "CO" every month from May 2002 thru Nov 2002, and then Dec 2002 shows "OK." No months after Dec 2002 are listed on Experian.How can it be listed as 120 days late a year after it was settled? And, should it still be listed as ChargeOff/Collection a year later?Lastly (for now at least), does the 7 year limit apply to individual actions? For example, say I've had a CrapOne card for 10 years, and I was 90 days late one time 8 years ago. Can they still report it as 90 days late, or would it have to show as "Paid As Agreed"?Thanks. [Edit by BrassFan on Thursday, May 8, 2003 @ 09:08 PM] Link to comment Share on other sites More sharing options...
snoopbealybob Posted May 9, 2003 Author Report Share Posted May 9, 2003 So, if there was never a payment made, wouldn't the date opened be the same as the first date of missed payments? These are old hospital bills I am talking about. The credit report shows date opened, and then there is a status date of a several years later, which I think is when I tried to challenge the debts to see what I could get dropped. I just want to know when this seven years will be up so the stuff will go away!! Sorry if I am having a hard time with this. Link to comment Share on other sites More sharing options...
Anonymous Posted May 12, 2003 Report Share Posted May 12, 2003 This I think is also my question.I have medical bills listed on CR, but only as Date open. If I didn't pay these when does the DOLA come into play here?Also, when do bad checks fall off? (I wrote a bad check in '96, and didn't pay it and obviosly no activity at the bank since then)is it 7 years from time I wrote check or when the keep "updating" the CRA? Link to comment Share on other sites More sharing options...
Anonymous Posted May 13, 2003 Report Share Posted May 13, 2003 i like where this was going, i can't answer the new questions, but my question is this.i had a card in 1 of 96, it was charged off 3 of 97. i am being told that the account will fall off of my report 3 of 2004. The original creditor's report looks like this:Date Opened:01/1996 Type: RevolvingReported Since: 03/1997 Terms: 1 MonthsDate of Status: 04/1997 Last Reported: 04/1997 The collection agency report looks like thisDate Opened:08/2001 Type: InstallmentReported Since: 03/1997 Terms: 1 MonthsDate of Status: 02/1997 Monthly Payment: $0 Last Reported: 09/2002 I am new to this site and have been trying to understand my rights, and it makes me feel so ignorant, because I just don't get it. I am getting ulcers trying to figure this crap out. So does the CA or the OC have a right to report this account even though it was for 60 dollars for one month of revolving credit in 1996??? One of the CRA's told me that it can be reported for 7 years from the charge off date, which was way longer than 6 months from delinquency (over a year). i realize that the law changed as of dec 1997, my debt became a debt in jan of 96. am i an idiot or can anyone explain it to me? Link to comment Share on other sites More sharing options...
snoopbealybob Posted May 14, 2003 Author Report Share Posted May 14, 2003 Anybody could help us that would be great . Link to comment Share on other sites More sharing options...
Anonymous Posted May 14, 2003 Report Share Posted May 14, 2003 yes please, help help. i work in travel i can give awesome recommendations... Link to comment Share on other sites More sharing options...
fixerupper Posted May 14, 2003 Report Share Posted May 14, 2003 Swede,To add to the aggravation! Back to the storage unit I had. The date of last activity was 4/30/97. I'd have to look at the paperwork to see if that was when the last payment I made.Would the 7-years start on 4/30/97 or when the last payment I made was? I'd love to be able to go to the CRAs and tell them to remove this butthead from my report (the CA) because it's beyond the 7 years! Link to comment Share on other sites More sharing options...
Anonymous Posted May 15, 2003 Report Share Posted May 15, 2003 OK guys,i am sitting here looking at copies of CBR's now. It appears that Collection Items stay on your report for 7 years from date opened.(my Experian cbr shows Date Opened:04-2002, reported since:05-2002, Last reported 09-2002 -- This account is scheduled to continue on record until 03-2009)Revolving/ Installment is simply 7 years from Date of Last Activity. So, if you have an account showing date of last activity as 05/1996, it will stay on your report until 05/2003.Hope this helps.Robert Link to comment Share on other sites More sharing options...
Anonymous Posted May 15, 2003 Report Share Posted May 15, 2003 Fixerupper -Your 7 years are not up until 04/2004. Link to comment Share on other sites More sharing options...
Anonymous Posted May 15, 2003 Report Share Posted May 15, 2003 Cousin -Medical Bills are 7 years from date opened.Bad Checks on CBR - 7 years from date reported. Link to comment Share on other sites More sharing options...
Anonymous Posted May 15, 2003 Report Share Posted May 15, 2003 SnoopBealyBob --Looks like you are talking about a Collection Item. If so, 7 years from date opened. Status Date is last date reported. Doesn't matter. Link to comment Share on other sites More sharing options...
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