I noticed on my reports there are some collection items and another negative that states "date to be removed" or something to that effect. The date listed is 5 years. I thought those remained for 7 years? Also, I finally got all of my scores in as of 4/2. EQ 621 EX 594 TU 597 The reports said one big factor affecting my score was the fact that I had no open, active accounts and the last one was opened over 2 years ago. So I applied for an Orchard Secured card (almost a week ago and haven't heard anything) and I now have a Crown Jewlers account (1500 limit which contradicted what I read in the terms listed on their site) and made a small purchase to activate it. So, I'll wait and see what happens.
It can be reported for up to 7.5 years from the original date of delinquency. Collections accounts must use the OC's original date of delinquency, and must report that to the CRAs for any accounts they post to credit reports. Somewhere I read that NY may have a shorter reporting period, possibly 5 years, that may apply to paid accounts. I have not confirmed this.
Two possible answers to 5 year reporting: 1) Some states have their own legal limits on credit reporting timelines, it's possible you live in one of those states, 2) A reporting error by the data furnisher. Sometimes errors are in your favor, it has happened that a date gets misreported, and appears older than it actually is. You may have gotten lucky!, 3) The 7 year reporting time is from the date of deliquency, look at the accounts to see when they became "late".
Thanks all for the replies. I'm in Louisiana, and I'm not sure what the timelines are. Is there a site that I can easily get this info from?
