Credit Tips: How Long is Negative Info on Credit Report

Posted On: January 1, 2006

Author: RADical
Posted: Wed Jul 07, 2004 12:43 pm
Post subject: How Long is Negative Info on Credit Report

2/24/2002 7:39 am CDT

Does paying an old loan already in default for six years, renew the 7yr activity date.

Example
An old hospital bill, unpaid for 6 yrs, still has amount due, referred to collection agency, never made an attempt to pay it.

If a person leaves it upaid, it should dissapear next year, am I correct?

Or, if the person wants to pay their debtor and starts to make payements, will that ‘renew’ the last activity date, (make it look like a current bill with recent payments) and make the negative info stay on an additional 7 yrs?

Author: Eugene
Posted: Wed Jul 07, 2004 12:44 pm
Post subject: How Long is Negative Info on Credit Report

2/24/2002 10:45 am CDT

If the account was open prior to 1997 (February, I think - that’s the time when FCRA was amended), then paying WILL reset the clock. If it’s a newer account (doesn’t look like that since it has been unpaid for 6 years), then the clock is not reset by payment.