Best course of action ...CRA or OC?

[atlastontheroad]

I have a Cap1 charge off from 9/2003.  It was paid almost immediately.  By NY FCRA it should fall off 9/2008.  It's already fallen off TU, but the "E's" are bahstids.  Call Cap1 first or approach the CRAs?

atlast....updated scores...oh, so close!!!!

[RobertEG]

Hi, atlas,

Cal the CRA if it is no longer reportable.

The FCRA prohibition against including information in your credit report applies to the CRA that generates the credit report.  FCRA section 605.

Once a delinquency that has been charged off or placed in collection reaches 7 1/2 years from the date of delinquency leading to the CO or CA activity, you gripe is with the CRA for continuing to include it in your credit reports.

Once you are certain of your DOFD (the date of first deliquency in the last chain that led to the CO or CA), is more than 7 1/2 years ago, send a letter to each CRA that is still reporting any such account delinquency, demanding its removal under section 605 of the FCRA.

Message Edited by RobertEG on 08-12-2008 11:45 PM

[atlastontheroad]

---

RobertEG wrote:

Hi, atlas,

Cal the CRA if it is no longer reportable.

The FCRA prohibition against including information in your credit report applies to the CRA that generates the credit report.  FCRA section 605.

Once a delinquency that has been charged off or placed in collection reaches 7 1/2 years from the date of delinquency leading to the CO or CA activity, you gripe is with the CRA for continuing to include it in your credit reports.

Once you are certain of your DOFD (the date of first deliquency in the last chain that led to the CO or CA), is more than 7 1/2 years ago, send a letter to each CRA that is still reporting any such account delinquency, demanding its removal under section 605 of the FCRA.

Message Edited by RobertEG on 08-12-2008 11:45 PM

---

RobertEG;

If only it were this easy.  I live in NY State where our FCRA says that paid collections are only reportable for five years past DOFD.  The "E's" apparently don't train their customer service personnel about variations in FCRA.  When I asked the two CRA in question about this earlier in the year neither would acknowledge that the drop date should be this year, not during 2010.

DOFD is September, 2003. 

So, instead of calling, I did an online dispute with Experian and wrote a lovely concise letter of dispute to Equifax which just got mailed.  If I thought it would do any good, I'd cross my fingers for the next 32 days or so.  Given my previous history with the "E's," I'm not holding my breath.

atlast.....

Message Edited by atlastontheroad on 08-13-2008 02:01 PM