Ok, I have an account that is reported like this on Experian up until November 2001: Account history: 30 days as of 10-1998, 12-1996 Status details: As of 10-2005, this account is scheduled to go to a positive status. Coincidentally, 7 years after the date of my last late payment is the date that the account is scheduled to go to a 'positive' status ie all the late payments would have expired given their individual 7 year time frame to be reported. Currently, under 'Status details' it says: 'This account is scheduled to continue on record until 2-2005. It looks like prior to December 2001, they considered dates of late payments to be an 'item of information', and reported that way to abide by this section of the FCRA (which I have modified to save space): §605. Requirements relating to information contained in consumer reports (a) Information excluded from consumer reports. Except as authorized under subsection (b) of this section, no consumer reporting agency may make any consumer report containing any of the following items of information: (5) Any other adverse item of information, other than records of convictions of crimes which antedates the report by more than seven years. That would have been wonderful to use in conjunction with this: § 611. Procedure in case of disputed accuracy [15 U.S.C. § 1681i] (a)(5)(A) In general. If, after any reinvestigation under paragraph (1) of any information disputed by a consumer, an item of the information is found to be inaccurate or incomplete or cannot be verified, the consumer reporting agency shall promptly delete that item of information from the consumer's file or modify that item of information, as appropriate, based on the results of the reinvestigation. Has any one else noticed this? Does us no good now, but just thinking out loud, lol.
If this is enforceable, why are we letting the CRAs off the hook, when they should simply delete the late notation, instead of the entire tradeline? We should be adding these violations to our lawsuits. My postings on this subject: Help! Quickly!, Questions about terminology etc, payment history - chargeoff, Refusal to investigate ??
