credit reports and removing negative items?

Question

im trying to clean up my credit. there are a few negative items onmy credit from10 - 11 yrs ago. (credit cards) are they allowed to keep charging intrest? even when the debt has been resold numerous times? some of the negative items say the account is still open? even when i know it is closed... there is suppose to be a 6 yr limit on how long negative itmes stay on ur credit. it seems like they are reselling the debt right before it is suppose to come off and it restarts the 6 yrs? any info that would help me romove things off my credit would be great. thank you =)

Update:

i got 6 yrs from something i read on the internet, i actually knew it was seven after i read what yall wrote. good info so far thanks so much!

CatDad · Accepted Answer

Defaulted debts can stay on your credit report for 7.5 years from the initial date of default, not 6 years. This 7.5 time period is fixed and cannot be restarted, regardless of how many collection agencies buy this debt.  There is massive confusion on this board over this issue as people get this time period confused with the statute of limitations. 
Send certified letters to all 3 credit bureaus stating:
Per the Fair Credit Reporting Act, I believe this item is being reported beyond the allowable 7.5 year time frame. I am requesting validation that this notation is within compliance with the time frame allowed by the FCRA, to include validation of the original date of default. 
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Collection agencies have been known to tamper with original default dates. If the credit bureaus refuse to remove the item, then you'll have to do the following: 
- Send certified letters to the collection agency that is reporting this info. State that you will file complaints with the Attorney General of their state, your state, the FTC and their local BBB if they do not remove this inaccurate info.  If this fails too, then your only recourse is to hire an attorney and sue them for Fair Credit Reporting Act violations.
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There is a completely separate time period called the Statute of Limitations. Make sure you understand this: http://catdadsblog.wordpress.com/2011/05/18/statute-of-limitations-on-credit-card-debt/

Let me steer you · Answer

there is suppose to be a 6 yr limit on how long negative itmes stay on ur credit.

Who told you that?  

The majority of information about your credit history can stay on your credit report for up to seven years according to the Federal Trade Commission's Fair Credit Reporting Act http://www.ftc.gov/os/statutes/031224fcra.pdf , which dictates how information about consumers is handled through various credit reporting agencies.

While the seven year limit applies to most information - there are some exceptions to the rule which should be noted:

    Certain bankruptcies can stay for up to 10 years.
    Information about any criminal convictions may be reported indefinitely.
    Information about unpaid judgments can be reported for seven years or until the statute of limitations expires, whichever is longer.

halbur · Answer

not something could be bumped off out of your credit record this is actual era. purely time 7-years on your case from the final reported date. there is not any reason to pay human beings to eliminate issues out of your credit, you're able to try this your self for the fee of a postage stamp if the products are fake. so some distance as credit restore, they are scams the 2007 version of shopper action handbook printed bu the government says so.

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credit reports and removing negative items?

3 Answers