June 10, 2008

Timeline of Credit Reporting

I have a fair credit. When I got my three credit reports, I found things that have expired – that is, they were over seven years old. When do these things get taken off your credit history? I thought it was after seven years. Two are credit cards that have been closed 9 years ago – one was car lease that was in dispute with the lease company. That one is over eight years. My m,orage broker told me last uyear that these things would be taken off automatically. Is this true?

Michael

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Hello Michael,

The FCRA requires them to be purged automatically. Since they remain, file a dispute with the CRA to have them removed.

Read: How long does bad credit remain?

Thanks for the questions and hope this helps.

Paul

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