I read someplace that in New York the credit reporting can only be for 5 years where can I get some information on that (I think it applies only to deliquent and charge offs) Also I found this statement on the ftc site at www.ftc.gov/os/statues/fcra/johnson.htm it states that the clock start from when the first payment is missed please check it out and let me know what you think it in the last paragraph of the letter. thanks
Fair Credit Reporting Act (FCRA) Article 25 Section 380-j New York State Consolidated Laws (General Business Section) NYSCL Gen Biz http://assembly.state.ny.us/cgi-bin/claws?law=44&art=53 "(1) Except as authorized under paragraph two of this subdivision, no consumer reporting agency may make any consumer report containing any of the following items of information. (iv) accounts placed for collection or charged to profit and loss which antedate the report by more than seven years; or accounts placed for collection or charged to profit and loss, which have been paid and which antedate the report by more than five years;" Hope that helps... if not Pat & Anthony are the experts on this subject.
Thanks Larry, I printed a copy of the law for my reference. What do think about the opinion letter from the ftc? Can I use it to remove some old charge offs and late payments from my report?
