Auto Loans

[dciples]

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 :	Installment	Credit 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

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[Hammer23]

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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 :	Installment	Credit 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

Year

Jan

Feb

Mar

Apr

May

Jun

Jul

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2012

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---

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. 

[dciples]

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

[guydiver]

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

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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.

[Walt_K]

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.

[Shogun]

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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 :	Installment	Credit 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

Year

Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec

2012

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---

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

[HyundaiCARE]

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.”

[dciples]

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.

[TNTransplant]

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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.

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[Shogun]

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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.”

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