Closing accounts

[Sinamenone]

What is the name of your state (only U.S. law)? PA
Good afternoon, I recently closed my Macy's account, $228 & took a settlement offer to close my Verizon account, $326.71. Today when I requested my annual free credit report, they show as adverse accounts on Transunion & potentially negative items on Experian. Transunion goes on to state the estimated date of removal is 2011 for Macy's & 2015 for Verizon. Experian has my Verizon account to continue on record until 2014. Why is this? I've paid my debt & I feel it should be totally removed from my report. Thanks in advance.

[Antigone*of*Greece]

Originally Posted by Sinamenone

What is the name of your state (only U.S. law)? PA
Good afternoon, I recently closed my Macy's account, $228 & took a settlement offer to close my Verizon account, $326.71. Today when I requested my annual free credit report, they show as adverse accounts on Transunion & potentially negative items on Experian. Transunion goes on to state the estimated date of removal is 2011 for Macy's & 2015 for Verizon. Experian has my Verizon account to continue on record until 2014. Why is this? I've paid my debt & I feel it should be totally removed from my report. Thanks in advance.

You may have settled your debts, but if you did not pay them as agreed then they have every right to report the negative activity. They should show as paid, they do not have to be removed.

If they were removed how else would another potential creditor know that you are a bad risk?

[Country Living]

Bumping to get spam off the main board. I'll come back later and delete this.

[ecmst12]

Negative items stay on your credit report for 7.5 years from the date they were first reported as delinquent. Even if you pay them off, they still show as "was late XX days" or whatever it was. You can't get that removed, you have to wait it out. However it should show that the accounts are CURRENTLY paid and closed or whatever.