I have an account on my credit report that has a status of: Paid, Closed/Current, was past due 60 days. My question is... is this account closed? Or is it Current? What does it mean? I understand it remaining on my report for 7 years and all that... but the status confused me a bit...
The "Current" refers to it being "Not Late" as of the recent reporting. It means that the 60 day late happened somewhere in the past, but there were no late payments due when the account was closed.
If any of the information is inaccurate, no matter how seemingly insignificant the details, you can dispute the account with the CRA as " inaccurate, please delete "...and often it simply goes away. The seven years is valid when no one does anything.....if you write letters after deleting the personal information on the report which matches the account (old addresses etc.), then your 7 years can change a lot....
