When does a delete occur from an unpaid cc

[idonthaveaname]

Does this happen 7 years after the date the account was first opened or from the date that the credit card was closed?

[Lian]

There is no date for deletion of an "account."
Deletion applies to individual derogatory items of informtion reported under the account. Deletion of old derogs is not based on dates such as opening of the account, closing of the account, or other account activities in between.
They are based on the relevant date of each reported type of delinquency or derog.
Monthly delinquencies reported on the account must be excluded from your CR after 7 years from their individual dates of occurance. Each has its own deletion date. if the OC did a charge-off, the CO can remain for up to 7 years plus 180-days from the DOFD on the OC account.

[idonthaveaname]

Hi there,

Well that was my question is the 7 years plus 180 days the date the account was closed, opened, or when information was last reported?

[Lian]

The period of 7 years plus 180-days ONLY applies to the inclusion of a charge-off or collection in your credit report. That period begins on the date of first delinquency (DOFD) on the OC account, which is the first delinquency in the most recent chain of delinquencies that preceded the charge-off or collection.

DOFD has no relevance to the deletion of monthly delinquencies on the OC account.
Monthly delinquencies have a separate CR exclusion period of 7 years after the date of the relevant delinquency.

A 30-day delinquency that occurred in, for example, 7/2005, would expire after 7/2012, and a later 60-day delinquency in, for example, 8/2005 would separately expire after 8/2012. If additional delinquencies occurred, resulting in a later charge-off or collection, the charge-off or collection would, in this example, expire based only on the DOFD of 7/2005, which would equate to a date of 1/2013.

No other dates are relevant.

[Hal Jordan]

typically the negative is deleted 7 years from the date of first delinquency.

Example. A collection agency has a medical bill posted to your credit report. The DOFD with the OC (healthcare provider) was 02/2005. The collection agency reports date opened 06/2007. The date the item has to by law be removed from your credit reports is 7 years after the DOFD. The date opened by the CA means nothing. The 7 year date is based off of the date of first delinquency.

If you have a credit card with a 30 day late pay. The 30 day late pay will stay on your reports for 7 years then will drop off 7 years after that particular late pay.

[Lian]

The period is 7 years beginning on the date that is 180-days after the DOFD. FCRA 605(c). It is not 7 years from DOFD.
That is just a convoluted congressional way of saying 7 years plus 180-days from the DOFD.

The credit reporting exclusion date is set as a maximum only, and the CRA can delete at an earlier time.

[torero34]

7 and a half years from the DOFD..

However,for medical debts,we have been waiting on a good news from the congress..

The medical debt relief act will make it mandatory that all medical collection accounts be deleted from credit reports upon full payment of the medical debt.

This bill has been pending for so long now...noone knows if and when it will pass..

Please see:
H.R. 3421: Medical Debt Relief Act of 2009

[Hal Jordan]

It's a dead bill man. It's been wiped from the books. Unless someone reintroduces it for a new vote under a new number you will never hear about it again.