@llecs wrote:EQ's CSRs are squirrelly. They keep saying over and over that the CRTP strarts at DOLA. That's why they are telling you that DOFD=DOLA, which isn't true.
DOFD is the date you first went late and never ever recovered again. DOLA can reset with a payment, an account update, or even via a dispute. DOFD should always preceed DOLA.
If the facts are true, I agree that DOFD would be 8/2005. Though, if the account was still open and you paid it several months later, bring it current again just before you closed it, then I can see how they say the DOFD is later. If that's the case, then it's just a closed, non-CO'd account, with lates reporting. Those lates will start falling off this year and by this time next year, it should be reporting as a positive account with a removal coming in early 2016.
If this was a utility, did you have services during the months showing the lates?
So if an account changes back to a closed account, non CO'd with lates reporting how long will it stay on file? I had this happen in my case. My account went late for multiple months and then I entered into a hardship program to bring the account current and pay it off. So now it shows as paid as agreed, closed by consumer's request but with late payments in the history. You're saying that the late payments in the history will drop off and yet the account will remain on my file?
Starting Score: EQ 675 | TU 688 | EX 702
@llecs wrote:
@iCoop wrote:So if an account changes back to a closed account, non CO'd with lates reporting how long will it stay on file? I had this happen in my case. My account went late for multiple months and then I entered into a hardship program to bring the account current and pay it off. So now it shows as paid as agreed, closed by consumer's request but with late payments in the history. You're saying that the late payments in the history will drop off and yet the account will remain on my file?
It'll stay on 10 yrs from the date of closure and the lates will disappear one at a time 7 yrs from the month of the reported late. Once the last late rolls off, then it'll remain as a positive.
Thank you, this information is very helpful. My next question is whether I should allow it to stay long enough for the lates to drop off or attempt to get it removed after around 5.5 years from DOFD? Reason why I ask is that I hear Bank of America will not challenge a dispute after that time frame as they purge old accounts from their records and I have lates all the way up to 180 days. I don't know what will improve my score most, letting the accounts stay or getting them removed eventually.
@llecs wrote:iCoop, I split your post to form a new one here. I had to edit the title, but changed nothing else. If you'd like to change the title, click "Options" and then "Edit Message". I didn't want to TJ the other poster's thread.
I'd question the BofA statement. I've seen plenty of posters fight BofA all the way 'till the 7th year with no success. But let's say it's true for a sec...nobody on here can advocate disputing a legit account or legit lates, lest their post get zapped or edited. The question to ask is: do I want it off? You may not want the account off at all. You definitely would want to compare the age of the account in relation to your AAoA. If older than your AAoA and/or your oldest revolving, you can actually lose points if removed, despite major lates reporting. YMMV of course on your credit. If an older account and if deleted at 5.5 yrs, then you lose out on 4.5 years of additional reporting that could have helped your FICO and overall credit, with 3 of those years as a positive, baddie-free TL (assuming thelates drop at 7 yrs....most of mine have dropped earlier). Something to think about.
Now if newer than your AAoA and not your oldest revolving, then try GWing them to death.
Thanks for the info. I've already tried GW with BOA and they don't even respond. I sent letters to four different addresses on numerous occasions and have yet to hear back. So I sent an email to the CEO and his executive office called the next day and said that the accounts (two of them) will remain even though they are paid in full. So much for that...
I guess my only option is to wait it out and see if the lates start to drop at the DOFD.
@pizzadude wrote:
Is this your only derogatory account on your credit reports ? If so then I would probably lean towards trying to get it removed. BofA is notorious for not granting GW requests but you can certainly give it a try.
I have two derogatory accounts both with BOA. One was with MBNA whom they acquired and the other with FIA whom they acquired. The DOFD was in 2008, the accounts were PIF in 2011. So now I just have to wait till 2015 I guess. I fully agree about them not granting the GW as I have tried with no success.