Re: Credit Report

Posted by Gerald Grisham on December 24, 1998 at 09:12:21:

In Reply to: Re: Credit Report posted by Terry Mueller on September 12, 1998 at 17:38:55:

: I'm not an unimpeachable authority, but I think the seven years refers to the date when the account is closed or the last payment is made. If you dispute a charge and lose, I don't think that has any effect. Negative items will still show up past seven years if you are applying for at least $50,000 of credit or a job paying at least $20,000 annually. I think that charge-offs and liens will stay on the report beyond seven years since they are still liabilities and would be appropriate for a company to consider before extending credit.

: It is up to each creditor to decide on repayment terms, so you have to ask them. If you are considering bankruptcy, you might want to check with the Consumer Credit Counseling Service to see if they can help set you up with a repayment plan.

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: : I'm not an unimpeachable authority, but I think the seven years refers to the date when the account is closed or the last payment is made. If you dispute a charge and lose, I don't think that has any effect. Negative items will still show up past seven years if you are applying for at least $50,000 of credit or a job paying at least $20,000 annually. I think that charge-offs and liens will stay on the report beyond seven years since they are still liabilities and would be appropriate for a company to consider before extending credit.

: : It is up to each creditor to decide on repayment terms, so you have to ask them. If you are considering bankruptcy, you might want to check with the Consumer Credit Counseling Service to see if they can help set you up with a repayment plan.


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