Quick question about negative item fall off dates?

[Lamplitersniper]

First post here but Ive been doing a lot of reading lately and hopefully I can have this simple question answered that I have gotten a lot of different responses for from my research.

I currently have one negative (the same thing) on each of my big 3 credit reports. It is a paid off derogatory account from capital one.

Now it was paid off in 2003 and obviously closed.

I have read negative things normally fall off after 7 years but my question is 7 years from WHEN?

I have read 7 years from the initial late payment date as well as 7 years from the last report date to the credit agency.

This item has 3 very different dates on it in my credit reports. One is 2003, one is 2006, and one is 2007. Is there anything I can do about the discrepancy here? Obviously I would love to have it fall off of all three accounts seeing as its been 7 years from the initial screw up and paid off account.

I have a few other questions but I figured this was the most important one as it pertains to my only negative and I dont want to dispute (again) or push the issue to try to finally get this removed without knowing the answer. Obviously if it will fall off by the end of the year than I will just wait.

Thanks for any help.

[jjgross]

Originally Posted by Lamplitersniper

First post here but Ive been doing a lot of reading lately and hopefully I can have this simple question answered that I have gotten a lot of different responses for from my research.

I currently have one negative (the same thing) on each of my big 3 credit reports. It is a paid off derogatory account from capital one.

Now it was paid off in 2003 and obviously closed.

I have read negative things normally fall off after 7 years but my question is 7 years from WHEN?

I have read 7 years from the initial late payment date as well as 7 years from the last report date to the credit agency.

This item has 3 very different dates on it in my credit reports. One is 2003, one is 2006, and one is 2007. Is there anything I can do about the discrepancy here? Obviously I would love to have it fall off of all three accounts seeing as its been 7 years from the initial screw up and paid off account.

I have a few other questions but I figured this was the most important one as it pertains to my only negative and I dont want to dispute (again) or push the issue to try to finally get this removed without knowing the answer. Obviously if it will fall off by the end of the year than I will just wait.

Thanks for any help.

7 years from first missed payment.

[Lamplitersniper]

Originally Posted by jjgross

7 years from first missed payment.

Thanks for the quick reply.

So the oldest report date of the three listngs looks like this:

412174186832**** CAP ONE Paid derogatory Derogatory and paid. 12/2003

So am I correct in assuming that by the end of this year that negative should be removed from all 3 of my credit agency reports?

Its listed the same way but with 2004 and 2007 on the other ones.

I dont remember specifics from back then but Im assuming that I missed payments around the 8-9th month and finally got it paid in a lump sum and closed the account in December since they reported it at paid in 12/03.

If its true that it will be off possibly in the next month or two and definitely by the end of the year Im one happy camper.

[chane]

2009 - 2003 = 6 years :D

Unless I missed something, it will fall off at the end of next year, not this year.

[Lamplitersniper]

Originally Posted by chane

2009 - 2003 = 6 years :D

Unless I missed something, it will fall off at the end of next year, not this year.

Yeah I'm retarded and it was early in the morning lol.

So yeah next year. Should I just dispute them repeatedly for the next year hoping I can get them to come early or let it be?

I guess I'm just afraid to dispute them more because I was under the impression it wad 7 years from last update and if I dispute them they could update them. That's why the one 2007. But the last update doesn't matter correct?

Thanks again guys.

[chane]

Originally Posted by Lamplitersniper

Yeah I'm retarded and it was early in the morning lol.

So yeah next year. Should I just dispute them repeatedly for the next year hoping I can get them to come early or let it be?

I guess I'm just afraid to dispute them more because I was under the impression it wad 7 years from last update and if I dispute them they could update them. That's why the one 2007. But the last update doesn't matter correct?

Thanks again guys.

It's a perfect account to dispute. The old an account is, the better. It's less likely they have records of it and less likely they will even bother to try to verify it. I would definitely dispute them. One or 2 disputes should work. Make sure you wait 30-40 days between disputes.