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Established Member
dciples
Posts: 24
Registered: ‎10-08-2012

Hyundai Motor Finance Charge off

[ Edited ]

Not sure if this would be the right section, but here goes...

 

I have a Charge-off from Hyundai and want to know when I can have the Credit Bureaus remove this from my credit? Here is the info on my Equifax report (I don't know if it's different on the other two).

 

Account Number: Status:CHARGE-OFF 
Account Owner:Co-maker  High Credit: 
Type of Account An installment loan has a fixed number of payments and the same payment due each month, such as a car loan or student loan.:InstallmentCredit Limit: 
Term Duration:72 Months Terms Frequency:Monthly (due every month) 
Date Opened:11/24/2004  Balance:$280  
Date Reported:09/24/2012 Amount Past Due:$280 
Date of Last Payment:08/2007 Actual Payment Amount: 
Scheduled Payment Amount:$384  Date of Last Activity:N/A
Date Major Delinquency First Reported:08/2006 Months Reviewed:20 
Creditor Classification: Activity Designator:N/A 
Charge Off Amount:$861  Deferred Payment Start Date: 
Balloon Payment Amount: Balloon Payment Date: 
Date Closed: Type of Loan:Auto 
Date of First Delinquency:02/2006 
Comments:Charged off account  

81-Month Payment History

YearJanFebMarAprMayJunJulAugSepOctNovDec
2012********    
2011************
2010************
2009************
2008************
2007************
2006**3030*3060*****
2005           *

Starting scores 8/23/2012: EQ-526; TU-506; EX-548
Lender pull 10/11/2012 EQ-569; TU-531; EX-560
Lender Pull 11/5/2012 EQ-584; TU-598; EX-559
Lender pull 1/22/2013 EQ?; TU-607; Ex-539
Milestone 1: 620
Frequent Contributor
Hammer23
Posts: 428
Registered: ‎01-21-2012

Re: Hyundai Motor Finance Charge off


dciples wrote:

Not sure if this would be the right section, but here goes...

 

I have a Charge-off from Hyundai and want to know when I can have the Credit Bureaus remove this from my credit? Here is the info on my Equifax report (I don't know if it's different on the other two).

 

Account Number:2004120155XXXX Status:CHARGE-OFF 
Account Owner:Co-maker  High Credit: 
Type of Account An installment loan has a fixed number of payments and the same payment due each month, such as a car loan or student loan.:InstallmentCredit Limit: 
Term Duration:72 Months Terms Frequency:Monthly (due every month) 
Date Opened:11/24/2004  Balance:$280  
Date Reported:09/24/2012 Amount Past Due:$280 
Date of Last Payment:08/2007 Actual Payment Amount: 
Scheduled Payment Amount:$384  Date of Last Activity:N/A
Date Major Delinquency First Reported:08/2006 Months Reviewed:20 
Creditor Classification: Activity Designator:N/A 
Charge Off Amount:$861  Deferred Payment Start Date: 
Balloon Payment Amount: Balloon Payment Date: 
Date Closed: Type of Loan:Auto 
Date of First Delinquency:02/2006 
Comments:Charged off account  

81-Month Payment History

YearJanFebMarAprMayJunJulAugSepOctNovDec
2012********    
2011************
2010************
2009************
2008************
2007************
2006**3030*3060*****
2005           *


If the report is accurate and this is your charge off, it will remain in your report for 7 years. 

 

You may try to contact HMFC and see is you pay the charge off if they will delete the trade line. 

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Established Member
dciples
Posts: 24
Registered: ‎10-08-2012

Re: Hyundai Motor Finance Charge off

7 years feom what date on this report? And yes it is unfortunately accurate.
Starting scores 8/23/2012: EQ-526; TU-506; EX-548
Lender pull 10/11/2012 EQ-569; TU-531; EX-560
Lender Pull 11/5/2012 EQ-584; TU-598; EX-559
Lender pull 1/22/2013 EQ?; TU-607; Ex-539
Milestone 1: 620
Established Contributor
guydiver
Posts: 534
Registered: ‎08-30-2007

Re: Hyundai Motor Finance Charge off


dciples wrote:
7 years feom what date on this report? And yes it is unfortunately accurate.

Most probable scenario, it will drop off your report 7-7.5 years from the DOFD, which is listed at 02/06.....so somewhere in the neighborhood of 02/13 and 08/13, but you might get a break and have it fall off earlier. YMMV and the CRA's can be a bit inconsistent.

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Senior Contributor
Walt_K
Posts: 3,065
Registered: ‎11-02-2009

Re: Hyundai Motor Finance Charge off

Did you bring the loan current in May of 2006 or are they just not reporting a 30 day late then?  If you brought it back current, that resets the time period for when you count for deletion.


Starting Score: ~500 (12/01/2008)
Current Score: EQ 681 (04/05/13); TU 98 728 (01/06/12), TU 08? 760 (provided by Barclay 1/2/14), TU 04 728 (lender pull 01/12/12); EX 742 (lender pull 01/12/12)
Goal Score: 720


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Moderator
Shogun
Posts: 12,902
Registered: ‎04-15-2011

Re: Hyundai Motor Finance Charge off


dciples wrote:

Not sure if this would be the right section, but here goes...

 

I have a Charge-off from Hyundai and want to know when I can have the Credit Bureaus remove this from my credit? Here is the info on my Equifax report (I don't know if it's different on the other two).

 

Account Number:2004120155XXXX Status:CHARGE-OFF 
Account Owner:Co-maker  High Credit: 
Type of Account An installment loan has a fixed number of payments and the same payment due each month, such as a car loan or student loan.:InstallmentCredit Limit: 
Term Duration:72 Months Terms Frequency:Monthly (due every month) 
Date Opened:11/24/2004  Balance:$280  
Date Reported:09/24/2012 Amount Past Due:$280 
Date of Last Payment:08/2007 Actual Payment Amount: 
Scheduled Payment Amount:$384  Date of Last Activity:N/A
Date Major Delinquency First Reported:08/2006 Months Reviewed:20 
Creditor Classification: Activity Designator:N/A 
Charge Off Amount:$861  Deferred Payment Start Date: 
Balloon Payment Amount: Balloon Payment Date: 
Date Closed: Type of Loan:Auto 
Date of First Delinquency:02/2006 
Comments:Charged off account  

81-Month Payment History

YearJanFebMarAprMayJunJulAugSepOctNovDec
2012********    
2011************
2010************
2009************
2008************
2007************
2006**3030*3060*****
2005           *


7 years + 180 days from the date in red.  The DOFD.   So 08/2013 and you should be good to go.


Starting Score: 504

July 2013 score: EQ FICO 819, TU08 778, EX "806 lender pull 07/26/2013
Goal Score: All Scores 760+, Newest goal 800+

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Current scores after adding $81K in CLs and 2 new cars since July 2013
EQ:809 TU 777 EX 790 Now it's just garden time!
New Visitor
HyundaiCARE
Posts: 1
Registered: ‎10-25-2012

Re: Hyundai Motor Finance Charge off

My name is Richard Kirkreit and I am the CARE Manager at Hyundai Motor Finance’s corporate office. I look forward to assisting you with any concerns you have. When you have a moment, please contact me at (949) 732-2857. I can be reached Monday-Friday, 7AM-4PM Pacific Time.”

Established Member
dciples
Posts: 24
Registered: ‎10-08-2012

Re: Hyundai Motor Finance Charge off

Why would I contact you Mr. Kirkreit? So you can update my report to current and have this start as a new collections? I don't think so. Thanks anyways.

Starting scores 8/23/2012: EQ-526; TU-506; EX-548
Lender pull 10/11/2012 EQ-569; TU-531; EX-560
Lender Pull 11/5/2012 EQ-584; TU-598; EX-559
Lender pull 1/22/2013 EQ?; TU-607; Ex-539
Milestone 1: 620
Established Contributor
TNTransplant
Posts: 772
Registered: ‎01-03-2012

Re: Hyundai Motor Finance Charge off

[ Edited ]

dciples wrote:

Why would I contact you Mr. Kirkreit? So you can update my report to current and have this start as a new collections? I don't think so. Thanks anyways.


:smileyvery-happy:


Starting Score: Jan 2012: EQ - 659, TU08 - 670, EX - ???
Current Score:April 2014: EQ - 772, TU08 - 782, EX - 754
Last App:3/21/14

Moderator
Shogun
Posts: 12,902
Registered: ‎04-15-2011

Re: Hyundai Motor Finance Charge off


HyundaiCARE wrote:

My name is Richard Kirkreit and I am the CARE Manager at Hyundai Motor Finance’s corporate office. I look forward to assisting you with any concerns you have. When you have a moment, please contact me at (949) 732-2857. I can be reached Monday-Friday, 7AM-4PM Pacific Time.”


Did you just blow off an executive that offered to help you?   


Starting Score: 504

July 2013 score: EQ FICO 819, TU08 778, EX "806 lender pull 07/26/2013
Goal Score: All Scores 760+, Newest goal 800+

Take the myFICO Fitness Challenge

Current scores after adding $81K in CLs and 2 new cars since July 2013
EQ:809 TU 777 EX 790 Now it's just garden time!

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