When do the *7 years* start? (FTC Opinion Letters)

Your help would be so appreciated!!Does bad credit *go away* after 7 years?I got a credit report and had something show up from a bad credit card debt.It was a charge off ,the opened date is 7/93...but there is a report date of 11/99....I was wondering if this will show up at the bank on my credit report?Or will the 1993 date remove this from my report?

I also had several *pays on time* also from 1993..Will they show up and help or do the good marks go away as well..Thank you so much for any help!

there are so many dates on credit reports it can get confusing. The 7 years does not start from the open date. If you had a charged off cc it could start from then or from the date of last payment/activity. There could also be a date of last status. Is this an account with a CA, a cc, when was it charged off, date of last payment made, ect? I can let you know from that but 1993 is not the date.

The 7 year reporting period starts when the first payment was missed that led to the charge-off+ 180 days (for accounts placed on or after December 1997) for accounts prior to that, the 7 years starts when the account was actually charged off by the creditor.

Making a payment, transferring account to CA etc does not reset the reporting period. Making a payment does reset the SOL though

These opinion letters should help you get a clear picture of the 7 year reporting period.
FCRA Staff Opinion Brinckerhoff-Amason (http://www.ftc.gov/os/statutes/fcra/amason.htm)
FCRA Staff Opinion Brincherhoff-Kosmerl (http://www.ftc.gov/os/statutes/fcra/kosmerl.htm)
FCRA Staff Opinion Brinckerhoff-Johnson (http://www.ftc.gov/os/statutes/fcra/johnson.htm)

Thanks! :)