Negative Items on Your Credit Report. How Long Are They There?

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cashback
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Negative Items on Your Credit Report. How Long Are They There?

Postby cashback » Sat Oct 27, 2012 11:22 pm

So I am in charge of all the finances in our house and have always kept a close eye on how much money comes in and how much is going out. I also check my credit report frequently. My wife is the complete opposite(that's why I'm in charge of money).

Recently, she came in and asked me to check her credit report. so we did. The only things she should have on her report is her school loans and our Amex card. However, thanks to her wonderful mother, she has multiple maxed out and delinquent credit cards(5) as well as one in collections.

She has talked to her mom about it and it's not going to continue, but I was wondering how long these things will stay on the report?

I tried telling my wife how terrible/illegal of a thing this is to do. If she weren't married to me or someone else with good credit she would be SOL if she wanted a car, house, apartment, or even some jobs.
Credit Cards
Amex BCE 25K ---- PenFed Platinum Rewards 15.5K --- US Bank Cash+ 12K --- Discover IT 6K --- Citi Dividend 5K --- Chase Freedom 12.5K --- Amex SPG 6K --- Citi Thank You Preferred 15K

Not Used
Citi Simplicity - 5K, Sam's Club Discover - 10K

Future Cards
Sallie Mae World Mastercard

FICOs
Exp 772 - TU 781 - Equ 781


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djrez4
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Postby djrez4 » Sun Oct 28, 2012 9:17 am

Accounts stay on the report for 7 years plus a max of 180 days. Judgments and other public records stay on for 10 years.

Are these accounts that your wife opened for her mother? Did her mother open them using your wife's info? If mom didn't have permission, that's all ID theft. You may be able to get the accounts deleted right now.
[RIGHT][size=100]- Sapphire Preferred - Freedom - Ink - Platinum - Everyday Preferred -[/size]
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cashback
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Postby cashback » Sun Oct 28, 2012 5:10 pm

Yeah it was without her permission and I know that is ID theft, but could she get the accounts removed without getting her mom into trouble? It's really not a big deal right now as the mortgage, cars, and credit cards are all in my name.
Credit Cards
Amex BCE 25K ---- PenFed Platinum Rewards 15.5K --- US Bank Cash+ 12K --- Discover IT 6K --- Citi Dividend 5K --- Chase Freedom 12.5K --- Amex SPG 6K --- Citi Thank You Preferred 15K

Not Used
Citi Simplicity - 5K, Sam's Club Discover - 10K

Future Cards
Sallie Mae World Mastercard

FICOs
Exp 772 - TU 781 - Equ 781

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djrez4
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Postby djrez4 » Sun Oct 28, 2012 9:24 pm

It would probably require a police report which would mean getting mom into trouble. It sounds to me like mom could use a lesson in responsibility.

I should also qualify the seven years deadline by mentioning that the seven years start at the date of first delinquency. That date should be listed on the credit reports.
[RIGHT][size=100]- Sapphire Preferred - Freedom - Ink - Platinum - Everyday Preferred -[/size]

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cashback
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Posts: 793
Joined: Mon Oct 22, 2012 7:11 pm
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Postby cashback » Sun Oct 28, 2012 10:54 pm

Yeah i don't think we will go the police report route. She definitely does need a lesson in responsibility though!
Credit Cards
Amex BCE 25K ---- PenFed Platinum Rewards 15.5K --- US Bank Cash+ 12K --- Discover IT 6K --- Citi Dividend 5K --- Chase Freedom 12.5K --- Amex SPG 6K --- Citi Thank You Preferred 15K

Not Used
Citi Simplicity - 5K, Sam's Club Discover - 10K

Future Cards
Sallie Mae World Mastercard

FICOs
Exp 772 - TU 781 - Equ 781



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