NY 5 year dropoff help me if I

Discussion in 'Credit Talk' started by Marie, Feb 12, 2001.

  1. Marie

    Marie Well-Known Member

    I was noticing that the exceptions to the 7 year rule include people who live in NY. They get junk to drop off in 5 years not 7. It did state judgements and collections.

    If I "moved" to NY, could I take advantage of this and wipe remaining stuff in 5 years, not 7?

    Additionally, the only stuff I have left are Sallie Mae 120+ listings that are now paid and current (consolidated to another loan). Would this fit into the category.... or is it strictly judgements/ collections and not regular trade lines that have once gone bad?

    Experts please help! A 2 year reprieve would be nice~ :)
  2. sam

    sam Well-Known Member

    RE: NY 5 year dropoff help me

    i dunno but if i would move to NY if all my GA debt would roll into the 5 year deal !!
  3. Marie

    Marie Well-Known Member

    RE: NY 5 year dropoff help me

    Let's face it. I have family who live in NY. I could have a few months statements sent to a real residential address, pay them online, have the relatives mail them to me once a month... establish a NY residence 4 months prior to the drop off date of my messed up Sallie Maes, then dispute based on time limit when I hit 5 years 1 month. It night be worth a try, but I'd make sure to have my creditors report that address a bit before the drop date to hopefully not get an address verification slow me down.
  4. roni

    roni Well-Known Member

    RE: NY 5 year dropoff help me

    I lived in NY. I had a New York address when my student loans defaulted. All the credit bureaus attached 7 years to my file. My original contracts were signed in NC. You might wanna hold off on moving.

  5. Jake

    Jake Guest

    RE: NY 5 year dropoff help me

    You do know thats paid collections right? Not just all collections. Paid collections
  6. roni

    roni Well-Known Member

    Yes I do know that........

    All my collections show PAID at all 3 bureaus. (except the new (12/00) DMV judgement with transunion which will be paid this month)

  7. jason

    jason Well-Known Member

    RE: NY 5 year dropoff help me

    The most likely possibility is that the credit bureaus are unclear about this as well.

    What you might do is "move" your Experian to New York by the process you describe, then dispute the listing when it hits five years.

    I wouldn't bother to move until you were nearly at the five year date.
  8. Marie

    Marie Well-Known Member

    Jason: is it just for collecti

    Jason: the law stipulates for collection accounts and judgements (or at least that's how Equifax puts it on their info). Would that technically only be collection agency accounts or would my negative Sallie Mae 120+ count as a collection account? Thanks!!! I truly appreciate your expertise here. Not sure if they really mean derogatories or if it has to be ABC Collection Co.

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