*Loan,banking and credit>>>credit report

How long does it take for charged off accounts and credit card debts to be taken off of a credit report? in?

WASHINGTON STATE.
i really need to to finish school , but in order to do that i need to take out a private loan, because federal loans aren't enough, but my bad credit doesn't allow it...please help!

Once again, everybody gets this answer wrong (except for Spiff, of course).

Just one of the problems here with Yahoo.....people can't take two minutes to research their answers. What really makes it sad....I've only posted this answer dozens of times. Go on...take a look at my answers! Amazing, isn't it?

OK, once again...everybody open your books to the Fair Credit Reporting Act (see below). The reporting time for negative information on your credit report is 7 years, starting from the date of the delinquency.

It makes no difference if it's paid off. If it's on longer then that, it's because the collection agency illegally re-aged the debt by reporting a fake delinquency date.

The delinquency date is defined as the day you owed the payment, but didn't pay. Example, if you owed a debt on Jan 1, 2000 and missed that payment, THAT is the starting date. On Jan 1, 2007 the item must be deleted from your report. Source(s): Commission paper
http://www.ftc.gov/os/statutes/fcra/john...

605(c)(1) and 605(a)(4)

搂 605. Requirements relating to information contained in consumer reports [15 U.S.C. 搂 1681c]

(a) Information excluded from consumer reports. Except as authorized under subsection (b) of this section, no consumer reporting agency may make any consumer report containing any of the following items of information:
(4) Accounts placed for collection or charged to profit and loss which antedate the report by more than seven years.(1)

(c) Running of reporting period.

(1) In general. The 7-year period referred to in paragraphs (4) and (6)(2) of subsection (a) shall begin, with respect to any delinquent account that is placed for collection (internally or by referral to a third party, whichever is earlier), charged to profit and loss, or subjected to any similar action, upon the expiration of the 180-day period beginning on the date of the commencement of the delinquency which immediately preceded the collection activity, charge to profit and loss, or similar action.

http://www.ftc.gov/os/statutes/fcra/john...
http://www.ftc.gov/os/statutes/fcra.htm...

Um, I think quite a while, like a few years at least. Pretty typical of anything really negative on your credit.
If you haven't paid them, it usually takes 7 years, or longer, depending on the company or collection agency and how long they continue to hit your credit report.
If you paid it off though, give them 6 or 8 months and if its still there, give them a call.
Sorry, but these will stay on your credit report for 7-years from the date of first delinquency.
Finance Manager for over 7-years.
Alicia, used to after 7 years your credit report would roll over clean, not anymore, they are hanging on to stuff from 10 years ago....I know I just had applied for a loan and they asked me about a bill that was in 1995, which had been paid to a collection agency(Ihad proof thank God), but that would have caused me not to get the loan, had I not had the paperwork....I dont throw anything financially away, you neve know when you may need it! Try checking with some independent financial institutes in your area, some may loan, but at a higher risk rate....start cleaning up your credit as soon as you can, it will follow you for the rest of your life!