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Established Contributor
Posts: 519
Registered: ‎02-07-2010
0

Cap 1 C/O

I have a Cap 1 C/O that is scheduled to fall off in June. Will it come off auto or will I have to dispute the tradeline? Is there any way I can get it off earlier? Lastly, since this is so old will I see an increase at all in my score?


Starting Score:TransUnion: 698 (12 FEB 2010), Equifax: 674 (12 FEB 2010)
Current Score (Lender Pulled):TransUnion: 684 (12 SEP 2016), Equifax: 696 (12 SEP 2016), Experian: 679 (12 SEP 2016)
Goal Score:All scores All scores at least 700+ by December 2017!!

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Moderator
Posts: 14,051
Registered: ‎04-15-2011
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Re: Cap 1 C/O

Is it reporting incorrectly?  What would be the reason for a dispute?

Starting Score: 504
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Established Contributor
Posts: 519
Registered: ‎02-07-2010
0

Re: Cap 1 C/O

I was saying when June hits and its still on my report, could I dispute it to have it removed then?


Starting Score:TransUnion: 698 (12 FEB 2010), Equifax: 674 (12 FEB 2010)
Current Score (Lender Pulled):TransUnion: 684 (12 SEP 2016), Equifax: 696 (12 SEP 2016), Experian: 679 (12 SEP 2016)
Goal Score:All scores All scores at least 700+ by December 2017!!

Take the FICO Fitness Challenge
Community Leader
Epic Contributor
Posts: 26,499
Registered: ‎03-19-2007
0

Re: Cap 1 C/O

The CRA is responsible for monitoring the reported DOFD on the OC account, and excluding the charge-off from your credit report no later than 7 years plus 180 days from the reported DOFD.  You need nothing except monitor your report to ensure it happens.  A dispute would not be appropriate, as the issue is not one of inaccuracy of reported information. To attempt earlier exclusion, you can try sending the OC a GW request. 

 

If the charge-off remains in your CR after its required exclusion date, send a complaint to the CRA for their violation of FCRA 605(a)(4).

 

How much score increase you are likely to see depends upon whether you have any other remaining major derogs.

 

Established Contributor
Posts: 519
Registered: ‎02-07-2010
0

Re: Cap 1 C/O

This is my only derog. I just figured since it was so old a score increase would be minimal.


Starting Score:TransUnion: 698 (12 FEB 2010), Equifax: 674 (12 FEB 2010)
Current Score (Lender Pulled):TransUnion: 684 (12 SEP 2016), Equifax: 696 (12 SEP 2016), Experian: 679 (12 SEP 2016)
Goal Score:All scores All scores at least 700+ by December 2017!!

Take the FICO Fitness Challenge

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