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7 year rule?


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If the old info is positive, then you don't want to dispute it. Dispute any negative info ASAP to take advantage of CHOD. There is no reason to wait to dispute your negatives. If the old info only shows a couple of lates, keep it since the history is probably helping you more than the lates are hurting. But, if the old info is really bad (charge off, collection, judgement etc.) dispute it 'til it goes away. There is no rule as to how long you have to wait to dispute. The 7 year rule applies to how long the CRA can report neg. info on your accounts. After 7 years the neg's are supposed to drop off. 10 years for bankruptcy. However, as all of us here know, sometimes the info lingers longer than it's supposed to.

Keep reading and educating yourself on the subject, and all of the pieces will start to fit together soon. Good luck!

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