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Will Purging an Account Remove it from the Credit Bureau

If an account has been reported to the credit bureau and you purge the account, the credit reporting flag status does not change because the METRO2 program does not look at the purge database.

However, below are a couple of suggestions/considerations:

1) The credit bureaus automatically remove items from the credit reports on or around 6 years and 9 months from the last reported update. So, eventually the item will fall off the credit bureau report.

Ex: You use the METRO2 option to Balance report. An account is reported as a new item on 01/01/2006. The debtor makes a payment and you report the balance change on 07/01/2007. There is no other status changes made to the account after 07/01/2007. The credit bureau will automatically remove the item on or around 04/01/2014 (6 years 9 months from last updated on 07/01/2007).

2) If you want to remove the account from the credit bureau before you purge the account, you can apply a description code to withdraw the account and run the credit reporting process. The account will go to the file as a withdrawn. 

NOTE: You must add the description code and run the credit reporting process BEFORE you run the purge.

Keywords: Kbase Credit Reporting Kbase Purge

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