@Anonymous wrote:my old cap 1 account
2 30, 1 60, 1 90, 1 120,1 150 lates. Remarks "Account paid for less than full balance Charged off account"
this is only reporting to EQ
myfico EQ
699
myfico EQ mortgage score
681
let say i wait out the full 7 years, is it from the date it was opened/last reported/last payment?
opened Oct 27, 2010
Last reported Sep 02, 2012
Last payment May 01, 2012
my plan is to get a mortgage sometimes early next year
Since the account is a CO it will remain on file for up to 7.5 yrs from the DoFD that immediately preceeds the CO (the 30 day late that leads to the CO). The CRAs will typically remove them at the 7 yr mark so they remain well within the law. Your best chance of GW from Cap-1 is in the last year of it reporting and it must be a paid in full or settled for less CO. If this is not reporting monthly its effect on your Fico score lessens with each passing month. I would keep trying GW at a rate of at least once every few months.
@Anonymous wrote:
@gdale6 wrote:
@Anonymous wrote:my old cap 1 account
2 30, 1 60, 1 90, 1 120,1 150 lates. Remarks "Account paid for less than full balance Charged off account"
this is only reporting to EQ
myfico EQ
699
myfico EQ mortgage score
681
let say i wait out the full 7 years, is it from the date it was opened/last reported/last payment?
opened Oct 27, 2010
Last reported Sep 02, 2012
Last payment May 01, 2012
my plan is to get a mortgage sometimes early next year
Since the account is a CO it will remain on file for up to 7.5 yrs from the DoFD that immediately preceeds the CO (the 30 day late that leads to the CO). The CRAs will typically remove them at the 7 yr mark so they remain well within the law. Your best chance of GW from Cap-1 is in the last year of it reporting and it must be a paid in full or settled for less CO. If this is not reporting monthly its effect on your Fico score lessens with each passing month. I would keep trying GW at a rate of at least once every few months.
so is there a way i can figure out when this will fall off my report? i am a bit confused
Yes look in the monthly payment history for this (or something close to it) 30 60 90 120 120 CO that 30 day entry is the DoFD, if you get your CRs by mail directly from the CRAs they will show the DoFD or the scheduled drop off date. By law the DoFD must be reported to the CRA as its what they use to figure out when it should be excluded from your report.