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Reporting Charged Off Debt: 7 Year Limitation?

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Under the FCRA, do banks have to stop reporting a charged off debt to the credit reporting agencies after 7 years, or does the 7-year limitation only apply to the credit reporting agencies?

You need to ensure that the Date of First Delinquency (Field 25) is correct in your reporting the credit bureaus will not report any account older than 7 years.

First published on 06/18/2017

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