Forums
i read that missed payments and the like are removed after 7 years. is this 7 years from the first time its reported or the last time its reported? is an outstanding balance only reported once or each month that it isnt paid?
i have an outstanding loan that was due about 5 years ago. i just want to know when it will disappear from my credit report. on my latest credit report it says "date last reported" as 11/2009 for this loan. i dont know if it is consistently reported each month or year, or if it just took 4 years to report it.
when is listing removed from credit report
Hi channelz,
Negative listings are removed from your credit report after 7 years from the date when it was first reported. That is the date when you had missed the payment.
Can you tell whether or not the lender ever tried to contact you? What is the status of this account on your report? Can you tell if it still with the lender or has been handed over to a collection agency?
Thanks,
Aaron
thanks for the info. its a very bizarre situation. its my old college that claims i owe them $450 for a loan i took from them which i have no knowledge of. i have tried to contact them numerous times and never received a response or any information. this was about 5 years ago. maybe 4 years ago i was contacted by a collections agency and i told them what i just wrote here and then never heard from them again.
i had forgotten all about it until i just got a free credit report from my bank and discovered that i had bad credit because of this issue. but its only $650 now i think, and 7 years is going to be very soon so im not going to worry about it.
reply
Hi channelz,
Can you tell the name of your state? If the Statute of Limitations (SOL) has not yet expired, the collection agency may be able to sue you. So you need to check the SOL in your state.
Thanks,
Aaron