A number of paid on time loans

Discussion in 'Credit Talk' started by Jim, Oct 19, 2000.

  1. Jim

    Jim Well-Known Member

    credit report over the next few months. These were (circa. 1990-1993) student loans, an auto loan, and credit cards that I cancelled in the past. This upsets me as I am rebuilding credit after a forclosure and B.K. in 1998-1999. Right now I have 25 positive items in my credit file and 7 bad ones. If these old but paid and never late loans drop off I will have 18 positive items instead of 25.

    Is there anyway to prevent these deletions? I guess that I should also ask if I am making a big deal out of nothing? Any insight would be appreciated.
     
  2. roni

    roni Well-Known Member

    RE: A number of paid on time l

    Postive accounts can stay on your report indefinitely. Only negative accounts must drop off in 7 years. Dont worry.
     
  3. GEORGE

    GEORGE Well-Known Member

    RE: A number of paid on time l

    For some reason EXPERIAN is dropping off my closed, paid as agreed accounts also after seven years and one month after the last update!!!
     
  4. roni

    roni Well-Known Member

    RE: A number of paid on time l

    Equifax told me that positive accounts can stay on. I asked about an account that was 7 years old. She told me it is staying. But experian dropped the item. I just realized that. Must be an experian thing.
     
  5. GEORGE

    GEORGE Well-Known Member

    RE: A number of paid on time l

    YOUR CORRECT IT IS AN EXPERIAN THING UNTIL EQUIFAX AND TRANS UNION COPY IT!!!
    (HINT DON'T TRASH ALL YOUR OLD CREDIT REPORTS SAVE SOME)...IT MAY HELP IN FUTURE YEARS IF THEY DROP THE "GOOD" INFORMATION ALSO.
     
  6. roni

    roni Well-Known Member

    RE: A number of paid on time l

    Very good idea George. I think we have a point in keeping the info on as per the FCRA. What you think?
     
  7. GEORGE

    GEORGE Well-Known Member

    RE: A number of paid on time l

    COULDN'T HURT TO TRY TO GET EXPERIAN TO RE-REPORT THE "GOOD" CLOSED ACCOUNTS.
     
  8. alison

    alison Guest

    RE: A number of paid on time l

    I, too, spoke with exquifax. Positive items will stay on file for 10 years. I have this in writing.
     
  9. Cindy

    Cindy Well-Known Member

    RE: A number of paid on time l

    Thank you all for this information. I, too had a similar experience. My Sears card, which I got in 1983 (while I was in college), was one of the ONLY things to survive my financial disasters of the 80s and 90s. It had been paid on time. In 1998, when I started to rebuild my credit, I paid it off completely (as many of you may know, their interest rate S$%#S!). It was on my reports in 1999, but this year, it's GONE from all three. Luckily, I did save my old reports.

    Cheers and Prosperity,
    Cindy
     

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