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since
04-03-2008
02-13-2016
Ned505
Contributor
85
Posts
2
Kudos
07-19-2013
12:58 PM
I have an AMEX that went bad in 2007. It's a Charge Off. It is past the SOL in my state which is 4-years. It says on an old EXP CR the it is to drop off in Jan 2014. No one is trying to collect this old baddie. I bought a house in 2010 and it did not even phase the FHA underwriter. But I'm looking at moving and it came up this time and the new mortgage banker, and he says they reported in 2012 the CO balance. My EFX score is 690 and most of my credit Woe is long long gone. I even have a AMEX card that I travel with and pay it off religiously. I am wondering what to do??? I am not eager to call them and get back on the radar, and I don't want to re-set the SOL. How long can they report this on my CR? Thnks
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03-19-2012
11:35 AM
OK, My Home Depot CC went bad in 2008 and I fell behind. Lost income for eight months. After not paying anything I negotiated a reduced rate and agreed to pay $104 / month until PIF. I did that. In February with funds from my tax return I paid it off. Zero balance. I then at back and waited for the bump in the score. Well to my shock I got an alert grom EQ here on myfico.com and to my dismay they changed the reporting status. They changed it from Paying as agreed -to- At least more than 120 days past due and than four payments past due. !! It took me down by 29 points. Those missed payment were in 2007 and early 2008. But my score had been inching up all through that time as I "scrubbed" and "cleaned" my reports. Would they change that status as a result of completing the payment plan and Paying In Full? I filed on-line disputes with all three (TU, EQ and EX) and I called the CITI and sent a dispute letter with them. There are no other accounts that could have had such a large negative impact. And it was very clear that the status cheange was the result. This is very frustrating. Any thoughts?
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02-12-2011
12:05 PM
I have some old baddies that are getting old enough to feel good about! One has a DOLA that is reported as 3/07. That makes it 4-yrs. Old soon. The SOL for my state is 4-yrs. old. The account is a CO and is reported by a third party collection company. They haven't written and I have not spoke with any representative. My question is: Is the 4-yr. SOL based on the DOLA or something else? Once the 4-year SOL has passed what is a good strategy to get the account removed? Thanks in advance!
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09-30-2010
07:27 AM
Thank you! I have old CR's that all show the same DOLA from the OC. That date (as listed on my score power reports) started to change when the OC charged off and the acct. began to circulate to CA's
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09-29-2010
11:50 AM
HI, I have an old CO that has moved long ago from the Oc to many different CA's and JDBs. The last CA still reports a balance. The state I live in has a SOL of 4-yrs. That date is coming up according to my last EQ report. But as I review past credit reports there are differing dates for the DOLA. But only buy a few months. My question is what is the "official" DOLA? And what is a good strategy to employ after the SOL passes? Thanks
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05-05-2010
12:49 PM
What would be gained by opting out? That is a new one on me. How would that help me?
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05-05-2010
09:22 AM
I have recently applied for an FHA loan. I have had some issues in 2007 and 2008. The Loan Officer gave me very positive news and I expect to be approved. My EQ score history: 2008 520, now its 669. I still have three old CO's out there that are within the SOL for my state. Each has been sold to a CA and even they are not being very aggressive. As I have no house or really any attractive assets to share with them.... My question is, if I get the house, do I become a more attractive candidate for the CA's or the OC's. Thanks
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03-24-2010
06:59 AM
This account was from a Big Box Store account that I had to give up on in Late 2007 and early 2008. After not paying for a while I dug my heels in and said I was not going to pay 21% interest to re-age and keep the account current. After several "I can't help you" answers I eventually got a 9.9% rate and I have made those payments faithfully for over 18 months now. I think they will want be back eventually. As a customer and not a case number. Nothing speaks as loud as 18 months of on-time payment. Maybe that is a policy they have. I do not know but am glad for the result. My question still remains. How does that change in language fit into the algorithm of credit scoring.
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03-22-2010
06:39 PM
This was in the alert message. Can you tell me whay this is so positive? Thanks! Previously reported Newly reported Balance: $3,412 $3,336 Past due: $0 $0 Status: Pays account as agreed Pays account as agreed Last activity: 2/1/2010 3/1/2010 Description: Account closed at consumer s request Arrangements made with credit grantor to make partial payments Amount in H/C column is credit limit Account closed at consumer s request Charge Amount in H/C column is credit limit
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02-11-2010
02:40 PM
DOLA is Oct. 2009. My State the SOL is 4 years from DOLA. The new CA that made the inquiry is on the Web as an attorney for creditors and provides collection services. I am familiar with their kind. Thank you very much...
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02-11-2010
02:25 PM
Bump. If the OC has "sold" it and no longer report's a balance. Can they at another time re-report that balance? Thanks
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02-11-2010
02:06 PM
I also have a new inquiry in Feb 2010 that just appeared as well. Should I expect that they will report that balance, send me a letter and attempt to call me? It is my belief that they (The CA's) find me not worh much. No house, no car and very unappealing to spend much money to sue me. And the baddie is getting very old. Thank you for your response.
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02-11-2010
01:49 PM
Just pulled my TU. Thanks myFico for the 1/2 price promotion. I noticed that one of my old baddies has "left the building" and is not on Feb. 2010 report. It was on my TU report Sept. 2009 and listed CO as Bad Debt, Canceled by grantor. The balance is north of $25,000. DOLA Oct 2009. It is within SOL. I cannot PIF. It has (in the past) been shuttled around to a few various CA's and I usually get a Dunning letter, then I DV CRRR. But that has not happened for a long time. It is a sleeping giant. But now on this day I see that the account is not on my TU. It is not there. All the other ones, (Good and Bad) are there. Any thoughts?
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01-04-2010
03:30 PM
As an Option. I would suggest looking into saving the real estate commission. Find an attorney who you can develop a relationship with. Someone whose student loans are just as high A realtor is paid for bringing buyer and seller together. You will want one when you are too busy at work when you go to sell this beautiful house in a few years. But that work is done. Save the commission, for when you are the seller. It is a really great time to be a buyer, especially to a motivated seller/builder who may be carrying the note on the land and the development. And those upgrades will be worth it when you do wish to sell. It is the little things that move a house.
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11-20-2009
01:09 PM
I believe that a local CA who collects for the local OC is getting ready to refer the matter to an atty. The debt is mine and I cannot PIF. It is within SOL. About 12K. I have no house, sold it and I rent. Vehicle is paid for. I have been reticent to file as a BK will hang around for long time. If the OC/CA move with a suit, is that the time to file ? Can one file after the atty. becomes involved? What effect does a BK have on a judgement that would already exist? Thank You. It's hard to work when all this doubt is swirling around.
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11-11-2009
09:27 AM
I believe they are a CA and on 11/10 they made a hard inquiry. Experian's site says they did it with my permission. Should I dispute that?
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11-10-2009
08:51 AM
Thank You Creditguy45: My FICO score in 2005 was a 740. Little to no unsecured debt. House with equity, too. I started a business and the nice CR and lots of unused balances became my "income" through 2006 and 2007. After 11/2007 I could not keep up. I managed to sell house (PIF) no forclosure. I own my vehicle free and clear. I settled a chunck of unsecured ($32,000) in early 2008. The CO old balances are about $70,000 and aging. DOLA is going on 1-2 years. One local bank with local CA is threatening and making me nervous. I have decided not to file and to hunker down. My W2 income will be above the median this year. All open accouonts are in good shape. My hope is to negotiate with the most aggressive creditors first and work out a long term plan. And stay out of BK. Thank you for your responses.
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10-29-2009
08:06 AM
I have some very old CO's But they are within SOL. My scores have been going up with continue payment on time on new accounts which are my re-building plan. I am at a point of considering a Ch 13. (income is abouve 80,000) as the old accounts are threatening to sue. I would llike to pay off the active and working accounts that have been helping me increase my score, and keep them $0 Bal through the Ch. 13, to help me on the other side. My question is will those accounts close me out if and when I file? Any advice is appreciated.
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08-03-2009
08:07 AM
Thank You! I pulled my free TU today and found nothing new (baddies that is). I had pulled my EQ in January 09. The only recent new item I could think of: I had a late pmt. fee in July 09 on a CapOne account that is in great shape to help make new credit. I called CapOne this morning. They waved the fee and said it is not reported as a 30 - day, so I eliminated that issue. So I will pull another EQ and get back to you. I have some old accts. that were COs. 2007). Things that I am saving to PIF, PFD, or settle. They are all within SOL. They tend to surface with a CA, and then I DV CMRRR; they usually do not respond. Then the cycle repeats. As the baddies get older, my score has risen. from 529 to 618 over about 18 months. This is the first drop in a long time. More later Thanks
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08-02-2009
03:56 PM
Below is the paste of the alert I received on Aug 2, as my score went from 618 down to 589. I have been monitoring here for two years and every alert I have been able to track. Advice? Answers? Thanks Alert: Your FICO® score has dropped below your target score of 610 Score Watch alert/Changes to your FICO® Score Your FICO® score decreased to 589 on August 2, 2009. Target score alert: Your FICO® score has dropped past your target score of 610. Interest rate alert: Regretfully, no is data available to determine which rate you might qualify for, because few lenders offer this kind of loan to consumers with low FICO® scores. This score decrease may be caused by this new reason: You have balances on accounts that are past due. Changes to your credit report Your FICO® score went down on a day when there were no credit alerts on your Equifax Credit Report™. This can happen if: There was a change on your credit report that lowered your score but did not trigger an alert. For example, the balance on an account might have increased enough to lower your score, but not enough to trigger a balance increase alert. You moved from one category of credit users to another as time passed. For example, you may have transitioned from the category "consumers with a new credit history" to the category "consumers with a two- to five-year credit history". As a result, your credit report is evaluated differently, causing a slight change in your score. The good news is that moving between categories like this usually offers you the potential to reach a higher FICO® score in the future.
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05-26-2009
03:08 PM
I agree with Bungalow. Do both. Additionally, using the U.S. mail give you the back up of the federal mail fraud laws.
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05-26-2009
02:52 PM
Dear rayb, Put your money into the bank and keep it for the time being. Then read this forum every day for the next month. You are 23 and have the benefit of time, and if you keep spending within your means you will have a beautiful credit report by the time you are 30. My scores crashed when I was 42 and went from 740 to 522. I am back at 618 and as the baddies age, they mean less and less. As long as you maintain good payment history. Scores go up as fast a forest but drop like an avalanche. Keep everything in writing. It may be beneficial to call that Closed but not charged-off OC and see if you can get them to agree to reopen the account, (moderator comment welcomed here) as an active open account is better for your score than a closed account. They can agree to "re-age" the account if you bring the balance to a current status. If you settle for less than the full amount it will stay on your CRs for the duration and you will also receive a 1099 C for the difference in the amounts. You are liable for taxes on the difference. The OC is obligated to tell you that when they discuss settlement. Keep your cash in the bank and at the ready, but don't be to hasty. And read this forum every day .....time is on your side.
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03-30-2009
04:03 PM
I heard that EQ is/has? changed what and when they will report an individuals FICO score. Since being on this site I always saw something at the beginning of each month. An up or a down or a no-change. But nothing since 2/8/09. Am I missing something? Thanks
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