Does Anyone Know What this Means...

Andy77 · ‎03-09-2008

On my experian report...I disputed my BofA account saying that is should be deleted in April 08 since it was first late April 01....the credit reporting agency came back and said that it should fall off Oct 08..so I sent them a letter stating that it should be removed April 08...

Now my report reads..."Election of Remedy reported by Subscriber"..

I contacted Experian and they were not even sure what that meant...

Does anyone know what that means?

Message Edited by Andy77 on 03-09-2008 04:08 PM

Anonymous · ‎03-09-2008

http://www.answers.com/topic/election-of-remedies?cat=biz-fin

Anonymous · ‎03-09-2008

i just had a problem with them about an inq that should have dropped 2/17. I had to call EX and they removed 3/7/08. Three or four people did not know that inqs only stay on 2 years, one girl said they stay 7-10 years. yikes!!!!!!!!!

Anonymous · ‎03-09-2008

Andy77 wrote:

On my experian report...I disputed my BofA account saying that is should be deleted in April 08 since it was first late April 01....the credit reporting agency came back and said that it should fall off Oct 08..so I sent them a letter stating that it should be removed April 08...

Now my report reads..."Election of Remedy reported by Subscriber"..

I contacted Experian and they were not even sure what that meant...

Does anyone know what that means?

The CRA is right. FCRA says a derog account reports for 7 years from the end of the 180 day period that begins on the DOFD. In English, the drop date is 7.5 years from DOFD, not 7 years.

Since DOFD was 04/2001, drop date will be:

04/2001 + 180 days + 7 years = 10/2008