is there a time limit for a creditor to initiate bad report on your credit?
404055
Credit reports are reported for 7 years, beginning on the day of default.  They can not be restarted, but many collection agencies will try.  They simply change the date on the report.  Many consumers don't even realize it.  \n\nGotta keep your records.
718582
I am really surprised at the wrong information that was given to you here. It is not true that paying off the account will allow it to be removed from the credit report any faster than if it is settled. The opposite is actually true in many cases. Negative information is kept on the credit report for seven years from the start of the last delinquency. If you catch up at one point and then get behind again, this will start the clock over. If you settle the debt, then there is no restarting of the clock.\n\nIt is also not true that a settlement will necessarily keep you from getting credit for years. Most loans are based strictly on your credit score. There is no appreciable difference in the credit score of someone who paid off a debt in full and someone who settles the debt as long as they happen at the same time. Much more important is how long ago the delinquency was. If you have to wait to pay it off, it will have far more impact on your credit score.\n\nThe money that you save by settling the account can be used to help you financially now and to help you rebuild your credit. Further, you can negotiate how the company reports the debt to the credit bureau in your settlement offer. You can have them just report a zero balance and not report that it was even settled. I have done this for many clients.
74830
That depends on what type of debt is causing your bad credit. There are a number of different time frames for items to be removed from your credit report. Inquiries remain on your credit report for 2 years. Delinquencies, collection accounts, charge-off accounts, chapter seven bankruptcy, and paid tax liens remain on your credit report for 7 years. Chapter thirteen bankruptcy remains on your credit report for 10 years. Unpaid tax liens remain on your credit report for 15 years. This information came directly from the credit bureau. If you feel the information on your credit report is too old to still be reported, you should file a dispute with the credit bureau directly.
47000
contact the creditor. If it is a large firm ask for the collections department. Attempt to negotiate a settlement that includes elimination of the negatively reported information. Start by saying "can you help me with this". Explain the original problem and staate that you want to make it good. Sometimes they will be sympathetic. At a minimum, if you pay they have to report it as originally charged off but paid.
306195
Call the credit report agency and they should be able to help you. An inquiry on your credit report once in awhile does not look bad. It's when you've got alot of inquiries all in a short amount of time that knocks your credit score down. That is because it looks like you are applying for too much credit all at once and it makes you a "risk". And this is just a thought about that unknown inquiry on your report- did you file you taxes and get the next day "tax anticipation loan"? Because they do pull your credit for that. Just an idea. Good luck
1147624
creditor and it's report stays on your report for a minimum of 7 years.....However, if your current credit is positive and stays clean for at least 24 months....you will mitigate most of the damage the bad debt does to your FICO score.....\n\nMost the time, it will take you written requests, follow up to actually get it removed directly to each of the reporting agencies - obviously you need to wait 7 years to even begin to try.\n\nBut, again, it's your recent activity of demonstrating credit worthiness that will count the most.
565927
~*EmJaY*~ is absolutely correct.  Refer to the links she posted.\n\nAccording to the Fair Credit Reporting Act, debts can not be reported for longer the 7 years, beginning from the day of delinquincy.  For example, if you owed a credit card company $100 on Jan 1, 1995, and you missed that payment, THAT is your delinquincy date.  \n\nIt is NOT the day they charged off the debt, or send it to a collection agency, or the day you contacted them to try and negotiate a new payment plan.  \n\nHow do you get rid if it?  Easy.  Read the FCRA.  Here is a quick rundown....\n\nSend the Credit Reporting Agency (CRA) a letter disputing the listing.  If you have any evidence to support your claim send it to them.\n\nAt the same time, send a letter to the collector who is reporting this debt.  Demand that they "validate" the debt.  The wording is important!  Validate means they must send you copies of contracts, bills, receipts, and everything used to calculate what they claim you owe.  \n\nUse the sample template letter below.\n\nThey have 30 days to respond to your letter, or respond to the CRA. \n\nIf they do not send you validation proof, and the listing remains on your report, you can easily sue them in small claims court for $1000 for violating the FCRA by reporting "unvalidated" debts.  Suing them is easy to do.  I've done it, it works!  But you need to follow the procedures to the letter!\n\nContact me if you need help or advice.
567037
I wish you folks would actually know the answer and quit guessing!\n\nNow class, lets all open our books to the Fair Credit Reporting Act.\n\nIt says :\n\n==============\n§ 605. Requirements relating to information contained in consumer reports [15 U.S.C. § 1681c]\n\n(a) Information excluded from consumer reports. Except as authorized under subsection (b) of this section, no consumer reporting agency may make any consumer report containing any of the following items of information:\n\n    (1) Cases under title 11 [United States Code] or under the Bankruptcy Act that, from the date of entry of the order for relief or the date of adjudication, as the case may be, antedate the report by more than 10 years.\n=============\n\nTherefore, it can only be posted for 10 years, and must be removed.  It has nothing to do with the "statute of limitations".\n\nNow, what you need to find out is if you were rejected due to information supplied by the credit reporting agency, or did they find this out by going through bankruptcy court records.  Those records are considered "public records" and do not go away or get erased. \n\nIf it was from the CRA, you should contact the agencies and inform them that they are improperly posting adverse inforamtion about you, in violation of the Fair Credit Reporting Act.  By doing this, you can hold them liable for any damages, such as the loss of a loan, or higher interest rates you are forced to pay when you do find one.\n\nIf you send them a letter, you should see this come off within 30 days.  If not, sue them!  Contact me if you need help.\n\nI am not a lawyer or credit counsoler, just someone who knows the law and helps to counsel people in dealing with creditors/agencies.
306209
7 years from the time it was last reported on. So basically from the time either you or they closed out the account. But a little hint you may want to try is to get your report and dispute anything negative on it. If the individual creditors dont respond back in time to the dispute it can get removed from that specific report. Believe me that works !
200993
If you just paid them of it will usually take about 30 days for that to reflect on your credit report.. how bad is your credit if is under 600 you should contact a company called nations point.. 800-770-4277 or H&R Block Mortgage  they usualle work with people that have less than perfect credit.. if you credit score is under550 you should waith or else your interest rate will be really high .. if your credit score is over 600 or better then call E-loan they have some really good programs .. that might be able sutable for you. I work in the mortgage industry
151363
Not unless they report to the credit bureaus.  If they don't report, than it's not doing anything besides delaying your payment.  Most of the time places like that don't report until you are grossely delinquent.
991465
As a former financial counselor seeing the number 7 makes me cringe. I am not sure where people get their information, but the "7 year" rule is something from the past. Realistically nowadays, depending on the type of debt, negative credit history can remain on your credit report up to 10 years, sometimes even longer than that. Collection agencies make it a regular routine to sell older accounts from one to another, each time reporting it as a new uncollected debt on your report. As far as bad debts, the statutes of limitations, which varies by state, is 7-10 years after your first delinquency. That is, this is the amount of time that can pass before the lender is no longer able to take any legal actions to satisfy the debt. If I were you, I would make an honest attempt to pay off some of these debts in order to improve your credit rating. It's always better to take action than to sit back and wait for things to happen. Bad credit isn't fixed overnight. It takes time and energy on your part to correct the situation that you put yourself in. Be patient and make an effort, and you will see your credit rating improving over time.
211459
I don't think there is one.  Even if the report is free, they still want your credit card so they can start charging you after 30 days if you don't cancel the service.  Otherwise, why would any company want to give it to you for free?
849472
A company can consider one day 'slow pay'.  But that's rare.\n\nThe typical time frame for slow payment(s) on a credit report starts when the payment is 30 days late.  Then it goes to 60, 90 and 120 days etc.\n\nCredit Reports don't show a payment that's 2 days late or 10 days late.  Reporting kicks in at 30 days.
129335
It's sort of a catch-22.  Most things remain on your credit report for 7 years (such as a late payment).  If it goes to collections (let's say after 3 years) then the 7-years starts over again with that item on your credit report.  However, let's say you realize it after another 2 years, want to stop it from being a negative on your credit report, so you repay it - the collections agency will mark it on your credit report as paid, and it resets for another 7 years!  So, while it helps you to repay it, it hurts you at the same time (if you don't repay it, it will always negatively affect your credit score, even if it doesn't appear on there, and the credit agency can always exercise a lien on any money you make down the road).
196116
Generally, credit card companies and banks will look at the last 12 months of history, If they are looking any farther back, they should't.  Comapnies ussually report every three months or so, sometimes more.  Let me give you an example of what a credit card report looks like and i'll go over what it means to them:\n\nCAP.1\nOpen date: 12/03 last reported date  3/06\nHigh Limit  1000   Balance  850    Remit   10\nCCC1CCCCCCCCCCC2\ntype of account Credit\nThis account is in good standing \n\nBnkOfAm\nOpen date: 10/00  last reported date 1/06\nHigh Limit 22500  Balance 15650   Remit 400\nCCCCCCCCCCCC\nAUTO LOAN\nThis account is in good standing\n\nThis is kind of what a report will look like,  They will give the creditors name, The ammount of money that is allowed on the accound or the total loan ammont, next is how much is left to be paid, the next is how much you pay a month (REMIT) The line of "C'S" is where the good stuff comes... the c's mean that your account was paid for that month, when you see a 1 on the account it means that you have paid late once in one month, meaning that you might have paid a couple of days late, if you see a 2, that means that you have paid twice late in 1 month, which means that you missed one month and you paid the next month late.  about 75% of your credit score is based on payments, the rest is generally for ammount of credit cards in high limit, length of time of your open account, how many accounts you have open that are unpaid, etc, etc.  If you waut about 6 months and do nothing but pay your bills on time, you should be in the 600's the lowest score that you can get is 350 the highest is 800... a 600 score, is okay, but not great, you may not get all the benifuts of a 750 scored person.\n\ngood luck hope this helps.\n\n\n\n\nsorry!\niquiries only show up once on a 5 MONTH basis, like lets say if youre applying for a home loan, if you appply of rthe same type of loan 18 times, it shows on your report but it only affects your credit by like one point, but if oyu have multiple inquiries for different things, like auto, home, credit cards, H.E. loans, it may effect it more.
214814
No, no most of the answers are wrong, your negative credit reports will never clear themselves, check with your state, usually the statute of limitations on debt is seven years, seven years from the date of the negative report, you can pettition the bureaus to remove any that are over the statute of limitations. No one will remove them for you, you have to do the foot work.