There seems to be some confusion about the 7 year clock for reporting negative information under the FCRA. It is clear to me that the clock starts 6 months after the deliquency or charge off, and that paying the debt ("activity"), has no effect on the clock. Why do people keep referring to a date of last activity?
RE: 7 y, Date of Last Activity That's just the verbage utilized by the CRA's. Rather than putting "Original Delinquency Date or Charge-Off Date" as a column header, they call it "Last Activity". It truly means either (a) the original delinquency date or (b) date of charge-off, whichever is applicable. >> It is clear to me that the clock starts >> 6 months after the deliquency or charge >> off, and that paying the debt ("activity"), >> has no effect on the clock. Not so true. If you have a delinquent debt and make arragements to bring the account back to a current status and actually follow through on bringing it back to current, then the clock restarts. The "original delinquency date" is the date on which the account became delinquent and never again became current. If you bring it back current, no matter how you negotiate, then you've just changed the date.
