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    What does this mean on my credit report?

    By CreditWiz | February 5, 2009

    Alabastr questioned:


    I just looked at my credit report and there is a negative that says, “This account is scheduled to continue on record until Feb 2012.” So does this mean that whether I pay or not it will stay for another 4yrs? So if I don’t pay it it will go away in 2012?
    So in 4 yrs I will have better credit? When that goes away will my score go up?

    Topics: Credit Reports |

    4 Responses to “What does this mean on my credit report?”

    1. smiley20903 Says:
      February 6th, 2009 at 12:37 am

      That is right….anytime u have an account in derogatory it will stay on your credit for up to 7 years…up to 10 for bankruptcies..

    2. Cindy M Says:
      February 8th, 2009 at 5:24 pm

      It will go away in 2012 if your credit doesn’t follow up and re- report. It will remain on your report for 7 years. If you pay it, it will show as being paid, just fax them a copy showing proof of payment and the credit bureau will change your report, this will help to boost and repair your credit.

    3. Margana Says:
      February 9th, 2009 at 5:33 pm

      If you do nothing aside from pay the bill it will remain on your credit for the next 4.5 years. You can of course write a nice letter in a year or so and they may take it off..

      If you continue to not pay the bill it will go to collections and aside from your credit being ruined, they’ll find some way to most likely get the money from you (unless you’ve filed for bankruptcy). Do you want a large man showing up at your door threatening to break limbs?

      In response to Cindy above:

      Paying the bill does not automatically take a late payment or neglected payment off of your credit report. And it’s already been reported if it’s showing up in her CR right now ;)

    4. SPIFIMAN1 Says:
      February 11th, 2009 at 11:45 am

      Derogatory accounts continue to show weather you pay them or not for 7-years from the date of first delinquency.