« What credit card company offers the best deals on Business Credit Card?
Is there a way to remove bad history from your credit report? »

Credit Report Help! Revolving Accounts-Closed Accounts?

Under Revolving Accounts, some accounts show that the balance is $0 and past due is $0. Does mean they will be there 7 years after Date Reported? Two accounts have balances with past due amounts and dates reported…what does it mean? Account Status for each is CHARGE-OFF. Thanks!!!

Yes they were be there for 7 years from the time first reported. For the chargeoffs, if a collection agency takes over, they can also report and restart the statute of limitations. However, they can only re-age a debt once.

Credit Report Help! Revolving Accounts-Closed Accounts? was posted on Sunday, March 14th, 2010 at 5:41 pm. This post is tagged and is filed under Credit Help. You can follow the replies through the comments feed. Leave a comment, or trackback from your own site.

One Comment on “Credit Report Help! Revolving Accounts-Closed Accounts?”

  1. PooPooLaTrash
    March, 14th 2010 at 11:19 pm

    Yes they were be there for 7 years from the time first reported. For the chargeoffs, if a collection agency takes over, they can also report and restart the statute of limitations. However, they can only re-age a debt once.
    References :

Leave a Reply

WP Login