Date closed 3 years after DOFD?

[Anonymous]

I have a second mortgage account that seems to have novel reporting every month.

This month, they updated the "Date Closed" on Transunion to 11/2014, even though it's been in CO status since March 2012, with no payment history.

On Equifax, it reports as "Open - Collection/Charge-off" with the payment history and no recent date.

Is this invalid? Should I be disputing this as inaccurate reporting (since the 180 day mark was back in 2012), or does it really have no bearing on my score?

[RobertEG]

Is it a HELOC (revolving) line of credit?

[Anonymous]

No. It wasn't a revolving account, just the 20% in the 80/20 loan, reporting as a "Second Mortgage". 

Also, the house itself has been foreclosed since 2012.

[RobertEG]

Then you have already received all money related to the debt, and no longer have any issue of continued accrual of further debt.

As such, closure of the account to continued use is not an issue.  Payments remain due at the same installment.

I dont see the issue of open or closed as being of any particular relevance.

However, even if you feel it should have been updated to closed when it was charged-off, you can dispute and get their decision as to whether it is correct.

They will either verify as correct as reported or update.  A dispute of that account info would not result in the deletion of the account or the CO.

I would leave it be.

[Anonymous]

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@RobertEG wrote:

Then you have already received all money related to the debt, and no longer have any issue of continued accrual of further debt.

As such, closure of the account to continued use is not an issue.  Payments remain due at the same installment.

I dont see the issue of open or closed as being of any particular relevance.

However, even if you feel it should have been updated to closed when it was charged-off, you can dispute and get their decision as to whether it is correct.

They will either verify as correct as reported or update.  A dispute of that account info would not result in the deletion of the account or the CO.

I would leave it be.

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So "Date Closed" is really irrelevant in this context, and the more important date is "Last Payment"?

[gdale6]

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@Anonymous wrote:

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@RobertEG wrote:

Then you have already received all money related to the debt, and no longer have any issue of continued accrual of further debt.

As such, closure of the account to continued use is not an issue.  Payments remain due at the same installment.

I dont see the issue of open or closed as being of any particular relevance.

However, even if you feel it should have been updated to closed when it was charged-off, you can dispute and get their decision as to whether it is correct.

They will either verify as correct as reported or update.  A dispute of that account info would not result in the deletion of the account or the CO.

I would leave it be.

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So "Date Closed" is really irrelevant in this context, and the more important date is "Last Payment"?

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The close date or last payment are both irrelevant in a COed account. The only date that matters for CRTP and in most states SOL is the DoFD.