Charge offs updated with almost all lates removed....

RESSECUP · ‎01-22-2016

So all of my charge offs were updated with almost all of the late payments removed. I dont understand why they would do that, not too sure what to do now.

cartwrna · ‎01-22-2016

Be thankful, I had lates removed from my one last charge off and it helped my scores. I paid it and haven't poked the bear since, only paid after tons of un relentful requests to have it removed. It was mortgage time!

Don’t take your credit for granted, use it with care! These days, catch me in the bankruptcy forum!?

RobertEG · ‎01-22-2016

Some creditors do not even report monthly delinquencies untll they become major, and others do not report them at all, waiting only to report if they charge-off the debt.

Any charge-off has prior major derogs, usually at least 120-late, prior to a charge-off. It is factually redundant to report them, as anyone reading the credit report, including those developing scoring algoritms, know that there were prior monthly delinquencies.

After reporting montly delinquencies and then reaching a CO, the credtior may decide to clean things up a bit by deletion of the monthlies.

If nothing else, it removes any chance of the consumer filing disputes over their accuracy, and thusunecessary time in dealing with such disputes.

Anonymous · ‎01-23-2016

@RobertEG wrote:
Some creditors do not even report monthly delinquencies untll they become major, and others do not report them at all, waiting only to report if they charge-off the debt.

Any charge-off has prior major derogs, usually at least 120-late, prior to a charge-off. It is factually redundant to report them, as anyone reading the credit report, including those developing scoring algoritms, know that there were prior monthly delinquencies.
After reporting montly delinquencies and then reaching a CO, the credtior may decide to clean things up a bit by deletion of the monthlies.
If nothing else, it removes any chance of the consumer filing disputes over their accuracy, and thusunecessary time in dealing with such disputes.

Not Cap1!!! Once they do the CO they start updating with monthlies and show them as "150 days late" all the way back to the DoFD.