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Client Corner
This issue’s featured topic:

Explaining when negative information will be deleted from credit reports

Dear Experian,

Our customers often ask when negative information is removed from a credit report. What is the definitive answer?

— ALT

Dear ALT,

If the negative information is accurate, it will be deleted automatically seven years from the original delinquency date of the missed payment. The original delinquency date is the date the first payment was missed and after which the account was never again current.

The original delinquency date must be reported with the original account and any subsequent collection accounts. Making payments will not change the date.

Paid accounts with a positive history and no late payments will remain 10 years from the paid date. Retaining the positive account history longer than negative information helps consumers rehabilitate their credit history.

Chapter 13 bankruptcy remains seven years from the filing date because there is a partial repayment plan. Chapter 7 bankruptcy remains 10 years because none of the debt is repaid.

Unpaid tax liens remain 10 years from the filing date. Paid tax liens are removed seven years from the paid date.

If you have any questions about Experian and what we can do to help you support your customer relationships, please send them to clientcorner@experian.com.

 

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