No credit card required
Browse credit cards from a variety of issuers to see if there's a better card for you.
I have a utitlity CO from 2008. Its been charged off for quite some time. But it reports every month and shows that I was 90+ days late 60 times. Basically, every month they report the charge off they report a 90 day late. Can they do this? None of my other charge offs report lates after it is charge off. Is this account hurting me even worse than a regular charge off because the 60 lates? Any input on this would be greatly appreciated.
Credit AccountDte Energy
Dec, 2013 |
Jan, 2008 |
Sep, 2008 |
$649 |
Open Account |
Individual |
Electrical Light & Power |
No contact information provided by Equifax
$649 | Bad debt/collection | $649 |
late 30 days 0 times |
late 60 days 2 times |
late 90+ days 60 times (Oct 2013, Sep 2013, Aug 2013, Jul 2013, Jun 2013, May 2013, Apr 2013, Mar 2013, Feb 2013, Jan 2013, Dec 2012, Nov 2012, Oct 2012, Sep 2012, Aug 2012, Jul 2012, Jun 2012, May 2012, Apr 2012, Mar 2012, Feb 2012, Jan 2012, Dec 2011) |
Yes, it is reporting correctly. As long as the OC owns the debt and it is unpaid, it can report lates each month.
Are the other COs still owned by the OC? If not, they cannot report lates once sold.
i have two other credit card CO's. Both are owned by the OC. But once Charged Off they both stopped reporting lates. I just dont get how you can continue to be late when the account is closed? If it was an open account I understand that you could still be reporting lates month after month.
So although this account is 6 years old, it is probably hurting me the most right? Since I have a 90 day late reporting every single month?
The account is closed to your use, not closed in the sense it is paid and closed.
I am not sure why the other COs are not reporting lates. If they own the debt and a balance is being reported, yes, they can report lates.
Does your score drop each month?
As far as I can see it doesnt drop every month. I have only been using SW for a couple months. I have been using identity guard for the last year or so. That score hasn't consistently gone down as far as I can tell, but its a FAKO.
My hard copy of my EQ report doesnt show 60 lates. It just reports CO every month. So I don't know which is right.
If in doubt, always go by the report directly from the CRAs. Those are more detailed and the most accurate.
thanks for the info guiness. I guess I'll try and wait it out til september when its out of my states SOL. Then send PFD letters until they accept.....