Is it true once you pay your bill it must be removed from you credit report?
purple monkey dishwasher asked:
Like if I had a unpaid credit card or utility payment on my credit report and I pay it off completely, when will it be removed from my credit report?
Cory
Like if I had a unpaid credit card or utility payment on my credit report and I pay it off completely, when will it be removed from my credit report?
Cory
Tags: Credit Card, Credit Report, Utility Payment
June 28th, 2009 at 2:14 pm
Annette
no but it should report paid or a zero balance and it will stay for not less than 7 years
June 28th, 2009 at 10:41 pm
Leon
Not true.
Per the Fair Credit Reporting Act all derogatory accounts show for 7-years from th date of first delinquency it will show as paid with a $0 balance but it will still show.
June 29th, 2009 at 9:08 pm
Carl
No.
It doesn’t account that fact that you were deliquent with your payment in the first place. It will show a zero balance, however it will stay on your report for 7 years.
July 2nd, 2009 at 11:15 am
Roberto
No it stays on your account for 7 years but will show paid.
July 4th, 2009 at 12:42 pm
Benjamin
No, if you defaulted on your account it will be reported as “paid” or “paid in full” but will stay on your credit report for 7 years from the date you paid it off.