Accts charged off/Paid Closed

[pungigi]

I have several accounts on my report that are listed as an acct charged off/paid closed status, my question is how long will they remain, I am confused with the whole statute of limitations vs length of time on report thing. Some of these fall under the statute of limitation expiring but I am not sure what the next step is.

I also have 3 old car loan accounts with the following status

Paid, Closed/Account charged off

Transferred, closed

Repossession/Past Due

The problem is on the 3 car loans they are all paid in full, car was not repossesed I am driving today. What is the appropriate way to dispute these??

TIA

[razr]

http://www.creditinfocenter.com/creditreports/cr_time.shtml

"Accurate negative information generally can be reported for seven years, but there are exceptions:

Bankruptcy information can be reported for 10 years;

Information reported because of an application for a job with a salary of more than $20,000 has no time limitation;

Information reported because of an application for more than $50,000 worth of credit or life insurance has no time limitation;

Information concerning a lawsuit or a judgment against you can be reported for seven years or until the statute of limitations runs out, whichever is longer; and

Default information concerning U.S. Government insured or guaranteed student loans can be reported for seven years after certain guarantor actions.

Tax liens stay on 7 years from the date PAID.

Some other rules to keep in mind:

The Statute of Limitations has nothing to do with the length of time something can stay on your credit report, they are two TOTALLY separate things. Again, there is absolutely NO relationship.

The length of time a negative mark can stay on your credit report starts from the time you were late or the late payment went into collection, not from the last time you made a payment on the account. Some collection agencies update their reporting status on you to keep the account active with the bureaus to extend the time the account appears on your report. Very crafty and underhanded of them, because most often the account is updated and the period of time the account is active appears to be extended. Challenge this! If you do, bureaus will correctly remove it 7 years from origination. Period. In other words, paying a collection will not keep it on your credit report for a longer period of time if you are diligent."

[pungigi]

Ok so I figure out the following,

"The length of time a negative mark can stay on your credit report starts from the time you were late or the late payment went into collection, not from the last time you made a payment on the account."

this information is NOT listed on any of these accounts, there is an account history but it's kinda confusing, looks like...

90 days as of Dec 2000

60 days as of Nov 2000

30 days as of Oct 2000

This is a credit card that shows Paid, Closed following the below it should fall of in Oct 2007 right???

How do I effectively remove charge offs or is that even possible???

[razr]

You want to find the "date of first delinquency" (DOFD), it should be listed on your CR. It will come off about 7 years from then. Technically it's 7 years + 180 days, but usually they come off in 7 years. Also, your CR usually says something like "this item will remain until Oct, 2008".

-r