I have a negative account on my credit report that is affecting me in a negative way. This was reported way back in 2001 and I paid the account in full in 2002 but the bank continued to report that it was unpaid till I recently disputed with them. They finally changed it from unpaid to paid after a charge off. I really want this information removed from my credit report since its so old. I have asked the credit buraus to remove this three times but they have not done it. What are my options at this point? Please tell me what I need to do to get this peace of information removed from my credit report. Thanks
Celeste is correct, it will be removed 7 years from the date of delinquency. Paying it off does not reset the 7 year reporting period in this case. So sometime in 2008 is when it should be removed. The exact month will be based on the month in 2001 that the delinquency occured.
If you had this much trouble getting them to mark it as paid. You need to follow up on this next year. There is a very good chance that they have made an error in the date of delinquency and it may not come off when it should without you disputing it.