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I'm confused,

Member

I'm confused,

Hi everyone... I have a question, Im confused about something that is on my credit report.  I am currently in the processing of re-building my credit.. I had an old Capital One Credit Card that was opened back in 2001 and in 2003 I stopped paying on it due to unemployment and  it  is now considered a Charged Off Account.  I have received phone calls from credit collectors in the past but have never attempted to settle or pay the debt because financially I was not able to.  I have recently purchased a copy of my credit reports  through both MyFico and True Credit, and according to  MyFICO the DOLA according to my Equifax report  was Feb. 2002, however, according to True Credit - my Capital One account reported to Equifax on 5/07, Transunion 5/6/07and  Experian 7/4/07 .. my question is this:   if According to MyFICO the DOLA date is 2/2002, will this be coming off of my credit report soon?   And what does it mean when True Credit shows  it being reported  as recently as this year?  Does that mean that its being re-aged? Are the DOLA and the Reported date two different things? And my last question is,  Im trying really hard to raise my scores, so am I better off paying it off as Im now finally finacially able to do so? 
 
Thanks for your help!
Message 1 of 3
2 REPLIES
Moderator Emeritus

Re: I'm confused,

No  the new date should be under  last reported. it will drop from your CR 7 - 7.5 years after DOFD.
One of you CR might state in writting when it will drop. You can call CRA and ask for the DOFD date.
Message 2 of 3
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Established Contributor

Re: I'm confused,

jenifer,
 
The date you see that says last reported is when the OC,CA last forwarded info th the CRA.  You should call the CRA and ask them the DOLA each item you have questions about. If the date at myfico is the DOLA you can expect that to fall off around 02/09 7-7.5 years.
9/18/08 TU=707 EQ=706 EX=702
Message 3 of 3