Reporting Beyond 7 years on credit report
Florida - I monitor my credit report monthly. What I'm finding are accounts that I had more than 15 years ago. Although I wasn't responsibile with my credit at the time, the last activity on MY part was well over 7 years ago. What's happening is creditors sell my account to other agencies, who then start the 7 year period all over again. Is this legal?
Re: Reporting Beyond 7 years on credit report
absolutely not. the 7 1/2 year reporting period is calculated from the date of first delinquency, NOT the date of last activity on the account.
Re: Reporting Beyond 7 years on credit report
Contact the CRA's involved and inform them they are reporting information beyond the 7 1/2 year limiation and you want it corrected.