Does anyone know what exactly happens after the 7 years are up and the CRA's automatically remove the outdated information? Are these accts, public records, etc. really permanently deleted from all their records, or do the CRA's simply "hide" or "supress" them so they don't show on reports provided? The reason that I ask is because there are some cases that a CRA is allowed to report negative information indefinitely, such as loans over $150,000 and job offers over $70,000. If the info is really gone, how would this be possible? NiceGuy
I do not think it is gone... as you could probably see it for those jobs, loans... etc.. but I do not think they would show items we dispute off.. (legal issues) probably just the ones that drop off after 7 years... THEY WILL NOT PROVIDE INFO REGARDING THIS, AND THIS IS A REDICULOUS RULE!!!
I have wondered about those issues myself, especially when consideration is given to the fact that more and more people have salaries or policy amounts that exceed the limits imposed by FCRA. Really, those limits should be inflation-adjusted to make the law more reasonable. It seems that logic (a dangerous concept to apply to CRAs) would dictate that items disputed and unverified have not passed the test of "only accurate information can be reported" and therefore should not show up even in situations where the 7-year rule doesn't apply. However, items that have simply "aged off" could be reported in those situations. I'd be interested in hearing others thoughts on the matter. Has anyone seen a credit report used in connection with higher salary postions or policies? Greg
