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Regular Contributor
Posts: 113
Registered: ‎10-07-2008
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Re: BofA memory?

I just read, "If you are in NY, PAID collections/charge offs are removed 5 years from DOFD." 

 

Well, I lived in NY during all of this.  However, recently I moved to Fl.  Will it come off in 5 years, or 7.5?  

 

Also, I remember when I pulled one of my free credit reports, it said my one CO would be removed like 6/2009, and the other like 3/2010.  I think it might have been my Eq report.  Anyways, is this pretty accurate ususally?  Or is that just their estimate?

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Posts: 832
Registered: ‎03-20-2008
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Re: BofA memory?


Comp5569 wrote:

I just read, "If you are in NY, PAID collections/charge offs are removed 5 years from DOFD." 

 

Well, I lived in NY during all of this.  However, recently I moved to Fl.  Will it come off in 5 years, or 7.5?  

 

Also, I remember when I pulled one of my free credit reports, it said my one CO would be removed like 6/2009, and the other like 3/2010.  I think it might have been my Eq report.  Anyways, is this pretty accurate ususally?  Or is that just their estimate?


 

I'm not sure, someone else will know, however you said you settled for less than the amount owed. I don't think that counts a a paid co. I could be very wrong. I have no ideas on NY laws.
Valued Contributor
Posts: 1,185
Registered: ‎03-04-2008
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Re: BofA memory?

[ Edited ]

MsKiwi wrote:

Comp5569 wrote:

I just read, "If you are in NY, PAID collections/charge offs are removed 5 years from DOFD." 

 

Well, I lived in NY during all of this.  However, recently I moved to Fl.  Will it come off in 5 years, or 7.5?  

 

Also, I remember when I pulled one of my free credit reports, it said my one CO would be removed like 6/2009, and the other like 3/2010.  I think it might have been my Eq report.  Anyways, is this pretty accurate ususally?  Or is that just their estimate?


 

I'm not sure, someone else will know, however you said you settled for less than the amount owed. I don't think that counts a a paid co. I could be very wrong. I have no ideas on NY laws.

 

1) I don't think settled = paid off.

 

2) The law applies to NYS residents. Welcome to sunny FL, neighbor - you are no longer a NYS resident. Don't be surprised if they don't find some way to keep that CO on your CBR for the full 7.5 years and not 5.

 

I posted a link here to the NYS statute regarding this matter. Do some digging and you will find it. There is some good info there. I do, however, think the law applies to your place of residence at the time the report is run. Futhermore the NYS law bars the reporting of this information on consumer credit reports (the kind the CCC's get). For big loans (like mortgages) and insurance purposes this information is still available even if you do live in NYS.

 

Also, it is internal info to the OC and they may possibly know about it forever.

Message Edited by jmbfl on 11-01-2008 02:33 AM
Established Contributor
Posts: 523
Registered: ‎09-09-2007
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Re: BofA memory?

BOA has the "elephant memory"...

Had a chargeoff with MBNA in like 1999. Paid it off though.

I just got unsecured with my 99/500 but they won't boost me past $1000.
I had a business card with them for almost 2 years now and they won't even consider giving me more than the $5000 they started me with.

So they let me get a foot in the door but won't forgive me for one thing from so many years ago and it was paid....
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