This is not obvious to me so I am asking my extended family On EQ, is there a way to tell how long they intend to report an account ie when they consider the 7 years to start? Wish they were like EQ, who clearly states when the 7 years will end. In the FCRA, it mentions 'items of information'. What is considered an item of information? An entire account or a tidbit of info (eg late payment, charge off date)? This is the phrase that I an referring to in FCRA Section 611: "(5) Treatment of inaccurate or unverifiable information. (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 consumerâ??s file or modify that item of information, as appropriate, based on the results of the reinvestigation." What is an open account (compared to a revolving and installment account)? I have a charge off cc that was sold to another company. On TU and EQ, its being reported as an Open account, on EX its considered an Installment account. I also have a medical collection that is an Open account on EQ, but a Factoring account on TU. With another CA I have two medical collections, which one is on EX as a Installment account, the other on TU as a Open account. What gives...
In my opinion, an item of info would be any type of comment on the acct. such as: 1x 30 days late would be an item of info. Exp. reports show "will remain until xx/xx On equifax, you figure it by the date of last activity column. (I hope this is what you meant).
