This is a general question about when a TL must be removed from a CR. We have an item, with a status of "paid, closed/never late," on an account which was closed in 1996. The CR reflects November 1996 as the "last reported" date on the account, with the notatation "account closed at credit grantor's request." We asked that the CRA remove this account from the CR, as the account had been closed for more than seven years. Without explanation, the CR refused to do so. FCRA requires that "negative" items be removed after seven years. Could someone point me to a similar requirement for "good" items? Even though this should not be affecting the credit score, if such "good" items never have to be removed, then closed accounts could get out of hand.
Generally a paid loan will stay for 10 years. Why would you want it removed? It doesn't factor into available credit and helps with average age of accounts.
Thats a good account, wyh would you want it deleted? thats a pretty long payment history, keep it on there!
