Co disputed with 3 months for fall off.

[taxi818]

I found out that I had charge off from bank that was ordered to cease  and desist from Feds. I only got 3 months. 11-2014 falls off of cr. however. Wondering. I got order number from Feds. Called transunion. Guy told me to dispute. If this does not come off will it really hurt my score. And what happens in 3 months. Any advice will help.  

[taxi818]

I filed a dispute on Monday as I was request ion exclusion for early deletion. Co falls off in November 2014. 3 months. 

I went to check online at transunion and I do t see the baddie there. Is this because they are still investigating or is it gone?  Nothing about dispute there either.  

Please someone with experience tell me what is next. Because I want to go to experian and get it removed as well. By the wan lender was ordered to cease and desist by FDIC in 2008. My file 2007. Just don't have knowledge is this. Any help appreciated. 

[gdale6]

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@taxi818 wrote:

I found out that I had charge off from bank that was ordered to cease  and desist from Feds. I only got 3 months. 11-2014 falls off of cr. however. Wondering. I got order number from Feds. Called transunion. Guy told me to dispute. If this does not come off will it really hurt my score. And what happens in 3 months. Any advice will help.  

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Yes it would drop your score if it hasnt updated in awhile. If you have a copy of the consent decree (federal order) you would just forward that to the CRAs to get it off your CRs.

[taxi818]

I do have order. But guy on phone did not understand English. I don't think it will drop my score. Because co is 6 years 10 months old. Just can't see it on credit report anymore.  Will they tell me if it is removed for good. 

[gdale6]

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@taxi818 wrote:

I do have order. But guy on phone did not understand English. I don't think it will drop my score. Because co is 6 years 10 months old. Just can't see it on credit report anymore.  Will they tell me if it is removed for good. 

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You are not understanding how Fico scoring works, its immaterial that the actual CO is 6yrs, 10 months ago, if the TL updates and todays date is recorded in the eyes of Fico that is a brand new fresh CO and your score would drop accordingly, if it has already been updating on a monthly basis then it has been holding your score down the entire period its been reported as a CO. What I have just said goes for collection agencies that may report as well. If its is deleted the result that you get will say deleted.

[taxi818]

How can I know if it updates monthly or not. I don't mind the drop as long as this nightmare is over. But I don't even see on credit report the account anymore. Does that mean it's over. Or just beginning.

[gdale6]

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@taxi818 wrote:
How can I know if it updates monthly or not. I don't mind the drop as long as this nightmare is over. But I don't even see on credit report the account anymore. Does that mean it's over. Or just beginning.

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If its gone now then im 99% sure its been removed completely, grats   To see if something updates monthly you would look for markings either in the monthly payment history or a notation of the date of status or date reported.

[taxi818]

Thank you. So helpful. So does that mean I should get it off my experian next. Or wait until dofd. 10-29-07. 7 year mark 10-29-2014. 4 lates with charge off. 30-60-90-120 day late. Are they gone too?

[gdale6]

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@taxi818 wrote:
Thank you. So helpful. So does that mean I should get it off my experian next. Or wait until dofd. 10-29-07. 7 year mark 10-29-2014. 4 lates with charge off. 30-60-90-120 day late. Are they gone too?

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If an account is removed so is its late payment history. You can try calling the other bureaus its reporting on and ask that it be removed early, this can typically be done 3-6 months prior to its scheduled drop date.