Have an account which went to collections. Collections account was later paid in full. Credit report shows for the OC Coll/P&L 04-99, Pymt 01-99, Charge Off 06-98. Coll account shows Coll/P&L 01-00, Paid Rptd 04-99. When can I expect these to fall off? Which of these dates starts the 7 year reporting clock? Thanks
looks like it was charged off on 6-98, assuming that was within 6 months of the date you first went delinquent on the account the 7 years runs from then...6-05 it will be off your CR
Thanks pd11604. So, the latest it should stay on the report will be 6/05? Possibly sooner if the date the account first went delinquent was more than 6 mos prior. Does the fact that the collections account was later paid in full matter? Also, does the collection account come off at the same time?
The 7 years run from the date it was charged off or - if not charged off - 6 months from the date it was first delinquent whichever occurred first Some states (NY for example) allow for paid collection accounts to be removed after 5 years I am not 100% sure of this but yes, I believe it will come off also since it is a CA referring to an obsolete TL!
