My experience over the past couple years if you have an account that either a) went terribly past due, but never a charge off, or b) charged off and in both cases were paid for after the fact so the account reflects a paid status on the creditorâ??s system, not really mattering what the credit reporting agency states is the creditor will purge that account from their files within 12 â?? 24 months from the date paid. Over the last several years I have helped several friends clean up their credit. My friend Chris had a charge off with Wells Fargo Bank. He had their Visa card and was charged off with a $2100.00 balance. The account charged off in 1999 as a bad debt. Chris paid the account in full in 2001 â?? not settling on the account. July of this year Chris did a dispute with the credit bureau on his Wells Fargo account as â??not mineâ??. Wells Fargo did respond to the credit bureaus as agreeing to delete the account as they could not pull it up into their system. In 1992 my mother had an account with Chase with a $2700 charge off in 1995 time frame. Chase sold this account to an outside agency and marked their account paid status because the account was sold. That then triggered her account with Chase to be purged because they reflected a zero balance. Chase purged their account within a couple years. This year â?? just for kicks to see if Chase had a black list I applied for her the Wal-Mart MasterCard. She was approved with a $5000.00 limit. As soon as the balance transfers reached near $5000.00 they immediately increased her limit to $10000.00. I had a joint auto loan with my sister from the late 1980â??s with Ford Motor Credit. I co-signed for her and her car was reposed. I never paid the auto loan off as there was money owing. Later on in life my sister managed to re build her credit. In 1999 she purchased a truck through Ford Motor Credit. The bad loan we had, even though it had $5000.00 owing on the contract, was purged from their system. She now has excellent credit with Ford Motor Credit. No traces of our prior loan with any money owing. My point to all of this is most creditors will purge your account if they sell your account to an outside agency and mark your account paid in full or you pay the bill. This has helped me in the clean up of my credit and my family and friends. I have gotten several peoplesâ?? credit spotless with these tactics.
What were you doing digging around in the 9 year old threads, nunna? LOL. Okay, as far as agreeing with the OP. I don't. And I speak from personal experience. Perhaps it's just a sign of the times, as the OP is referring to deletions that occurred in the 90's and early 2000's. OC's and CA's typically don't delete without a fight or trying the PFD option. I think Jam had mentioned at some point as well that some creditors may keep an internal blacklist as well.
Agreed w/ Mindcrime - and even if they're paid they'll still show on a credit report from the DOFD through the SOL. So even a Paid in Full account still affects a credit score.
