03-11-2012 01:46 PM
Hi all, have not paid any attention to my credit score/reports for years because I didn't "need to". Can anyone say ostrich? Anyway, just pulled my reports and FICO scores and found disasters. Need a new car this year and expect the mess I've found will kill me.
Lots of questions, but I'll start with this one about an old account being reported differently to each of the three bureaus.
It is an HSBC/BB account.
On EQ, status is "Pays 31-60", Balance $0, Transferred/Sold. DOFD is 10/05. In the payment history key, however, there is the notation "CO" as of 10/05
On TU, status is "Charged Off", Balance $(shown, edited here), Purchased by another lender. Last pmt 9/05.
On EX, status is "Transferred, closed", Balance "N/A", DOFD 11/05. NO CO indicated in payment history key, however last notation is a 30 day late.
No other agency is reporting the debt on any of the CRAs. I honestly don't remember if I paid this or not (a very bad time in my life); all records would have long since been lost due to a home disaster.
I'm presuming this is actually a charge-off, despite EX not reporting it as such.
It is outside of SOL in my state.
If I do owe, I'd be happy to pay to get this off my report (e.g., PFD). If I have paid, I'd be happy to get this off my report. (?GW). I'm concerned that TU shows a balance owed. If the DOFD=CO date is around 10/05, this should come off around the end of this year (?) (TU states expected date of removal 8/12)
Without sticking foot in mouth and risking starting a new SOL running or bringing an unknown CA out of the woodwork and making matters much worse, how do I find out where this account stands?
Appreciate any thoughts/advice.
03-11-2012 02:35 PM
It looks like inconsistent reporting to each of the CRAs, but to your advantage.
It appears that,when taken in total, you had a reported 30-late, then a charge-off. Kinda unusual to do a CO when only at the 30-late level, but that appears to be what was done.
I would suspect that some later monthly delinquencies may have actually occured, but dont appear to have as of yet been reported.
They also appear to have sold the debt.
As I see it, you have two issues. One, the accuracy of the current reporting with each of the CRAs, and two, what can be done to get CR deletion.
If everthing had been fully reported to each CRA, they should show highest level of prior delinquency as a CO. The 30-late is in your credit file, but may or may not be shown in your CR due to the occurence of the later and more serious CO. The current status of transferred/sold requires the current account balance to be updated to $0.
Apparently, they have not reported the current balance of $0 to all CRAs, so that is a disputable item, but can easily be corrected. It would not be basis for requiring any CR deletion. Disputes over the inconsistencies in reporting should be made to clean up your file, but are not huge issues, as they can be corrected.
AS for CR deletion, the first thing I suggest is that you clear up the issue over the actual DOFD. That defines its CR exclusion date should you choose to do nothing, so you need to know its date of expiration due to its own old age. The date of charge-off is meaningless with regard to DOFD. You need the date of the first delinquency in the chain of delinquencies that immediately preceded the charge-off. Mandatory CR deletion date would be 7 years plus 180 days from the actual DOFD, period.
If the OC has sold the debt, they cannot take any payments, PFD or otherwise, so asking for their GW deletion would be the approach.
There is little you can do regarding the potential for a new debt collector to report if they own the debt. You cannot settle the debt with the OC, and have no way of contacting an unknown owner. I suggest you call the OC and attempt to get the name of the new owner, then deal with the new owner.
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