Thread: New York's 5 Year Clock

Question for anyone in the know. I work in NYC and live in another state. All my negatives are more than 5 years old but less than 7 years. I read here about someone who used Mail Boxes Etc. for a post office box and put the address as #309 instead P.O. Box 309 with the street address.

I am considering doing the same for easiest access to my mail (I can be gone for a week at a time and can't always get my mail at home). What will this do for me in terms of those negs dropping off? Once my address is in the state of NY on my report will they just drop off? Anyone with any insight, please post!

Cheers.

EVERY ADDRESS IS LISTED IN A COMPUTER AS THE TYPE OF BUILDING...MY TRI-PLEX WAS A "MULTI-FAMILY"...MY HOUSE SAYS "SINGLE FAMILY"...I THINK THE MAIL BOXES ETC. WOULD BE LISTED AS A "SHIPPING/MAIL BOX BUSINESS ADDRESS"...

Not necessarily so George. I have a PO Box at a mailbox place that started out listed as Suite#333. Then the great state of Virginia and the post office decided that they needed mailboxes like that to be listed as a PBM...personal mail boxes.

SO they changed my mailing to XXX whatever street, PBM 333, City, State

BUT>>>>> my point is, it's listed on my reports as an apartment and a single family home. They don't really know how to classify it. SO it has never said po box..mailbox thing. You can always count on them to list it wrong on reports!

If you can use a friend's or relative's NY address for a few months, it would be much better than a masked PO Box.

Once you have a NY address (and can prove it), update the bureaus, and once updated - have your old address removed. Then you can start disputing w/ much better chances of success even w/ entries that are <5 years old. Those >5 should be removed automatically when the CRA's update your address.

Another way you may have more success disputing, is if your old address (region) was assigned to a local CRA-affiliate and the new one isn't.


Saar

The one small problem with using a P.O.Box or mailboxes usa is if anyone ever used that street address and applied for a business loan, your address will have an extra line stating
"This is a non-residential address."inserted.

VJ

Can sombody please post info that says New York state residents have a 5 year clock as opposed to 7 years. How would I dispute based on that.


I am in NY and have a few 5 year things on my Credit Report, But they never automatically came off even though I live in NY.

Thanks,

* Rob *

Here you go, Rob. Just follow the link and look-up what interests you… Enjoy. [;-)

http://assembly.state.ny.us/leg/?cl=44&a=53

Well, that is interesting. Another example of off-the-top-of-my-head statements made on these boards.

If I read that correctly, in NY, the 5 years only applies to paid debts, unpaid debts can stay on for the full 7 years.

Is that right Anthony?

Do you have a link for credit laws for the Commonwealth of Virginia? I have tried their search engine for the Code of VA - it's the worst search engine I've ever seen. LOL. I can't find anything.

breeze

Breeze:
As I see it New York code specifies (UNPAID) defaulted debt as able to remain reportable for seven (7) years, whereas if one PAID (off) the "defaulted" obligation it could only remain for five (5) years. As far as general (positive) reporting I believe that is still seven (7) years. In any case here is the cite for all to examine:

• New York State Consolidated Code: §380-j(f)(iv)
  accounts placed for collection or charged to profit and loss which antedate the report by more than seven years; or accounts placed for collection or charged to profit and loss, which have been paid and which antedate the report by more than five years

PS: Have you check FindLaw.com for the codes relating to your situation?

Anthony,

They link back to the code of VA searchable database that I find so frustrating. What do you think?

http://leg1.state.va.us/000/src.htm

Thanks

breeze