What are my options?
3 attorney answers
I think the prior answers may ignore the fact that the negative information will fall off seven years after the LAST payment was due. Hope this perspective helps.
Unfortunately you don't have a lot of options. You are correct that the late payments will fall off your credit report after 7 years.
Under the Fair Credit Reporting Act, credit bureaus are not allowed to report activity that is more than 7 years old.
I hope you found this response to be helpful. If so, your clicking "helpful" and/or "best answer" helps my Avvo rating and would be appreciated. This answer shall not be considered rendering legal advise but instead a general response to a general question. Avvo is a wonderful resource but nothing can substitute for an in-depth consultation face-to-face with a lawyer. The response shall not be deemed to create an attorney-client relationship, nor shall it create an obligation on the part of the attorney to respond to further inquiry from the questioner.