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Any harm in GW'ed old CA?

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mAndrew1980
Established Contributor

Any harm in GW'ed old CA?

Is there any harm in GW'ing an old CA that no longer owns the debt? I have an old that is still on my reports but has zero balance, as the debt has been sold to a new CA. It's scheduled to fall off in about 6 months. Wonder if I'm exposing myself to anything by contacting them?

Transunion: 713 FICO (5/13/2014) MyFico
Experian: 789 FICO (4/10/12) Lender Pull
Equifax: 695 FICO (1/10/14) MyFico

My cards: Chase United Mileage Plus 7000CL (3/12), CITI Simplicity 1800CL (9/12), Cap1 Platinum 1000CL (2/10), Cap1 Cash back 1500CL (11/11), Apple Barclay's 2500CL (11/11), Discover IT 6000CL (5/13)

My Primary Financial Goal is to put down my utl%.



Message 1 of 4
3 REPLIES 3
LIGHTNIN
Senior Contributor

Re: Any harm in GW'ed old CA?

Since it's only 6mos to drop off, I myself would not bother sending a GW letter.

 

Are  you wanting to apply for credit, anytime soon for something?

FICO's May 2015 EQ764 ~~Live below your means and always keep an emergency fund -Love Everybody ~ Big Kenny ~ Big and Rich ~~~~~Credit Scoring 101 - Common Abbreviations - Freq Req Threads - Free Credit Reports - What Steps Do I Take?DV? PFD?
Message 2 of 4
mAndrew1980
Established Contributor

Re: Any harm in GW'ed old CA?

Well, I'd like to. However, I've only had my 1 cc since March so I doubt any prime lender will accept me until I have 12 months of solid history anyways.

Transunion: 713 FICO (5/13/2014) MyFico
Experian: 789 FICO (4/10/12) Lender Pull
Equifax: 695 FICO (1/10/14) MyFico

My cards: Chase United Mileage Plus 7000CL (3/12), CITI Simplicity 1800CL (9/12), Cap1 Platinum 1000CL (2/10), Cap1 Cash back 1500CL (11/11), Apple Barclay's 2500CL (11/11), Discover IT 6000CL (5/13)

My Primary Financial Goal is to put down my utl%.



Message 3 of 4
RobertEG
Legendary Contributor

Re: Any harm in GW'ed old CA?

There is no harm in continuing to ask for GW deletion.  That is private business between the two of you.  it is not improper to ask someone for a favor that is not prohibited by law, and the FCRA has no prohibition against the deletion of previously reported information

 

Even if the credit report exclusion period expires, there is still benefit from getting the collection deleted from your credit file.

Expiration of the 7 years plus 180 days from the DOFD on the OC account thereafter blocks the CRA from continuing to include the collection in any normal credit report they issue, but the information is still in your credit file.  Under rare circumstances, set forth in Fcra 605(b), a party can still request and obtain a credit report that includes the normally blocked information about the collection.  Requests for credit that involve a principal balance of $150,000 or more, for example, permit the potential credtior to request and obtain a full credit report that includes the normally blocked information.

 

This is not a serious concern, as creditors apparently hardly ever invoke requests for normally excluded information.  However, it is just an example of a condtion where deletion of the information from your credit file could still be beneficial, even if the normal credit report exclusion period has expired.

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