Bad run with credit cards

[trippedup06]

Greetings,

 

As I had a previous bad run with 3 CC's that went 'belly up' with R9 listings, will those listings that were posted by collections agencies still be showing up as 'flagged' if I re-apply for new credit? Last check I had made on my credit file showed "no credit/banking information available". All of them were cleared off my file last year (2014).

 

I have a hard time trying to understand this and would like some clarification in regards to this issue.

 

Thanks in advance.

[Kat58]

There's nothing whatsoever showing on all 3 credit reports?

 

What were the 3 CC's?

[david_weaver]

Welcome!

 

No, they will not show up when a potential creditor runs your report. The only possible complication would be if they were removed from your files before the 7-year reporting window were up. In that case, if they are with a collection outfit, the collection outfit could report the collection on your report. The likelihood of this would increase if you are aggressive about acquiring credit. But if they are more than 7 years old (and they might be as I can't recall the last time I saw an R-9 reference), they are gone for good. If they were the only three credit accounts you had, you basically have a blank file again like when you started out.

[david_weaver]

Did NOT notice you were in Canada, and I have no idea how the reporting laws there might differ. Scratch what I said until someone else with more Canada-specific experience weighs in.

 

Sorry!

[Kat58]

I had to google R9... first time I've seen that

[david_weaver]

It used to be something Trans Union used as an account condition description.

 

Not sure if the others did as well, I just recall TU.

 

R for Revolving, I for Installment, etc.

 

1 was perfect, 9 was likely charged off. Could be anything in between depending on account history.

 

Maybe they still use that format in Canada?

[Kat58]

Yep, that's what google said

 

https://www.ic.gc.ca/eic/site/oca-bc.nsf/eng/ca02179.html

[Sasprilla]

Read the pinned topic at the top of this forum ; lot's of links to the Canadian Gov sites on credit reporting and collection laws.

 

 

I believe some provinces have a 6 year reporting limit; america is 7 years.

[trippedup06]

Greetings,

 

Just to clarify my initial post, the 3 CC's were with Canadian Tire, Sears Canada, and Home Trust Visa all of them Canadian based accounts. The last time I had viewed my credit file online, I had an ultra-low score of 210 showing. However, I had recently received another "nudge" from a collections agency due to a previous account held by one of the above listed companies. I do realize that sooner or later I will have to deal with these, yet, the 7 years had gone by and all had been cleared from my file. The clock will be reset should I respond to that letter, yet, if I do, would it be wise to arrange to have a 48 hour delete the display from my credit file option made in writing to them?

 

thanks for all those that had replied.

[breeze]

Canadian credit reporting is very similar to US reporting, but, like others attempting to answer, I'm hesitant to give specific advice. We have quite a few Canadians who read CB and sometimes post, as well as Canadians who live and work in the US. Try posting your question in the regular credit forum, or a link to this thread. Maybe you will catch the attention of someone who has more definitive knowledge of the reporting laws, and statutes of limitations.

[Sasprilla]

If all the old bad accounts are no longer reporting, I think you can start rebuilding.