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7 year reporting period


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So, Is it true or not, that if you pay a CA it will restart the 7 year clock of it being listed on your CR???

No, the 7 yr clock starts on the DOFD from the OC TL. So 7 1/2 years from the first delinquency prior to collection the TL should die a natural death.

§ 605. Requirements relating to information contained in consumer reports [15 U.S.C. §1681c]

© Running of Reporting Period

(1) In general. The 7-year period referred to in paragraphs (4) and (6)

3 of subsection

(a) shall begin, with respect to any delinquent account that is placed for collection

(internally or by referral to a third party, whichever is earlier), charged to profit and

loss, or subjected to any similar action, upon the expiration of the 180-day period

beginning on the date of the commencement of the delinquency which immediately

preceded the collection activity, charge to profit and loss, or similar action.

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