I just pulled a new equifax report. and I'm a little confused. from what date does the 7 years go by. for example on my equifax report I have an account that is saying date opened 4/1996 and then next to it is says last date of activity 3/2002. is the 7 years from the open date or last activity date? kathy
General the date a account is closed will be the date of last activity. This is the date from which you add 7 years to see when a derogatory account will fall off your report. At the far right you will see the column for date reported. This is the date the account was last reported to the CRA. If the date last reported and the date of last activity are the same, the account is probable still open.
Erik, on my report is is showing for everything in the date reported column all very current such a 4/2002, but the date of last activity is different?? such 4/1996. If the date reported is the correct date for the 7 years it looks like alot of my accounts were re-aged? I'm I right in assuming this ? kathy
The date reported is just the last date the OC or CA reported the account to the CRA. They can do this every month if they wish. The key date is the DOLA (Date of last activity)--this is where the 7 year clock starts. The only thing that sucks is that TU doesn't tell you what the DOLA is on their reports. I sure wish they did...EX and EQ do.
The "date of last activity" is the date to look at to see when accounts will fall of a report. If you have a account with a date of last activity of 04/96 it should fall of in 04/2003.
Matt and Erik, thanks so much for clearing this up for me.. I almost freaked when I seen the current date. anyway I did not mention my one success I had. I had a collection acct for $7,000 and disputed it and it is goneeeeeeee!!! happy trails kathy
