Best answer:

Answer by ghandirahmabuddajesusdrphill
7 years from the time of thhe intitial report.

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Question by WhyAskWhy: How is this truthful about credit reporting?
Alright, no 1 ever stated daily life was fair. But, I fall short to understand the reasoning as to why a undesirable account stays on your credit file for (at least) seven years from the “date of final action”.

For instance, say you had an account that fell into collections in 2000 you would think it would drop off your credit report in 2007. But, say you took untill 2007 to pay out the darned issue off. Now, the “date of very last exercise” on the account is 2007, so now the account will stay on your credit score report as a unfavorable for another 7 several years…untill 2014. Which is a complete of 14 many years for one particular unfavorable account!

How is this reasonable to the client? That is 14 several years to have a lower credit score score, credit denials, greater curiosity prices, continually possessing to describe the account ought to you implement for credit score, and so on.

Why will not poor accounts just fall off following acquiring very first been noted as a adverse? Why is the date of final action so crucial? Where’s the incentive to actually shell out the monthly bill?

Greatest solution:

Reply by October
Your incentive to pay out off the monthly bill is to be an honest man or woman.

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Best answer:

Answer by Ted
When social security was created, some paranoids worried about creating a “citizen identification number” like the communists. They worries a lot about the communists in the 1930s. Anyhow, the government put restrictions on how a SSN can be used. One of these restrictions is that the credit bureaus can not use the SSN as the primary index. They must identify your file by some other key and then they can use the SSN for confirmation, if it is available. Bottom line: they don’t need your number. When they ask for it on an application, it really is to serve you better so that they make sure they are looking at YOUR report.

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Query by kristen a: How do you prove Identification Fraud to all three Credit Reporting Businesses?
There are a few of points on my credit report that say I owe somebody for lease in 2003 in one more state that I did not live in at the time. The assortment company has my social # but say that I have to show that I was not living there. Now there is suspicious tackle becoming reported on one particular of my Credit Reviews as my Existing Tackle. How do I go about fixing this? And is it challenging?

Ideal solution:

Solution by mytwodogs60463
get in touch with equifax, transunion, and the other credit score business and notify them as if they see living in one state they will know what is going. People credit bureau’s have a historical past of your entire qualifications from your work, to wherever you worked and what credit score cards you have. They can seem that up and see that you failed to dwell everywhere else. Also ask for a free credit score report from transunion. Send a duplicate of that to the assortment agency and it will demonstrate them your total historical past. Just comply with the steps I gave you and it really should function out.

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I received a Medical bill for 15.00 from a collection agency. Five days after I receive the notice, I quickly paid the 15.00. This was a copayment after my insurance paid there portion. I really hate these copays, and I prefer the offices that collect them at the time of service because given my conditions these copays can cause problems. I made the payment to the collection agency on Aprill 5 2006. I check my credit report almost dailly and then I archive the old credit reports. ON May 8, 2006 I check my credit report and I see the 15.00 showing up as a paid collection.

This was on none of my credit reports. I went back and check my credit report from the April 3 through May 8, and this only appeared on May 8. I have disputed this and it has not been removed from my files. I am not sure if this is legal but it is extremelly malacious. I just don’t know what to do. I would really appreciated any advice.

Brain Injured

Nik

Best answer:

Answer by normobrian
It can take up to three months for changes to appear on your report. The delinquent $ 15.00 just showed up because it takes a while to get there. The payment will take as long to appear.

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Question by doedoe050273: Statute of limitaions on credit reporting in Louisiana?
I live in Louisiana and am trying to clean my credit report. I understand that there is a statute of limitations determined by state that says how long creditors can report. Not all of my debts are from Louisiana. Does this statute only cover those debts from Louisiana or does it cover them all since I now reside here?
I am not looking for federal limitations….some states have limitations ranging from 2 to 10 years. In louisiana I believe that it is 3 years.

Best answer:

Answer by mylilbubbers
The federal statue is 7 years. 7 years from the last time you had any activity on the account. Don’t let them BS you around if the dect is resold to another creditor. After 7 years, if they still have not removed the negative listing – contact the credit bureaus and they will remove the item(s).

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Question by aizend1985: Can anyone tell me the best credit reporting site?
I am looking to cleanup my credit; I need a credit reporting site that will show all three bureaus. I am not looking for anything free, but if it is free that would be amazing, lol. Regardless, I would really like to know the best sites for reporting

Best answer:

Answer by Mari
Google: CreditExpert.
I think the website is called Expedia.org

Best of Luck
Mari

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Best answer:

Answer by Common Sense
Experian.com or myfico.com

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Question by Kimmer1224: How many times can you check your credit through the “free” credit reporting sites before it hurts it?
I recently signed up for the “free trial” credit report with creditreport.com and was not very pleased with my service. They claimed that you could view your score and credit report from all three bureaus; unfortunately, this wasn’t the case. Thus, I now want to sign up with freecreditreport.com and was wondering whether it would hurt my credit to check my report with another web site?

Best answer:

Answer by Dixie Darlin’
No, you can check your own credit report as often as you want and it will never hurt your credit.

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Best answer:

Answer by Crazyjester9
The Fair Credit Reporting Act is the federal law which regulates credit bureaus and the data furnishers. Some states have their own version of the FCRA that provide further protection.

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