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Experian EE, no luck :( Advice requested!!

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RobertEG
Legendary Contributor

Re: Experian EE, no luck :( Advice requested!!

I am seeing what appears to be a new, and general, policy from EX to deal with early exclusion requests.

 

As a bit of background, requests for early exclusion are a relatively new phenom.

Up until a few years ago, they were virtually non-existent.  Now, they are the subject of daily posts.

 

The CRAs have no formal,published policy, and grant is subjective and discretionary.

They have increased to the point where they now involve substantial CRA resources.

 

For COs and collections, the CRAs have been routinely making their own early exclusion at 7 years from DOFD, whereas the statutory exclusion date is 7 years plus 180 days.

The CRAs have, in the past few years, developed somewhat standard, but not uniform, additional early exclusion grants of approx 3 months.

Each requires individual CRA consideration.  An increasing business expense.....

 

What is now apparently going on with EX is that they are now including that informal 3 months individual consideration as a general early exclusion in their estimated drop off dates, thus attempting to eliminate the many and costly individual requests for early exclusion.

At least that appears to be what they are now stating.

I would  personally consider that to be a prudent business decision.

 

 

Message 11 of 14
Anonymous
Not applicable

Re: Experian EE, no luck :( Advice requested!!

Renting a car might be a good option. Also, going ahead and financing then refinancing is a possibility you may want to consider. Best of luck to you.

 

Just an aside. You may want to consider a good will letter that is respectful and hopeful with your credit improvements and plans for the future. Just a thought.

Message 12 of 14
Anonymous
Not applicable

Re: Experian EE, no luck :( Advice requested!!

How does Automobile refinancing work when they have already attached the interest to the loan? If you buy a Kia for 16,000 and with interest your loan is 20 grand to pay that off.. you now need a 20000 loan which would tack on more interest make it 23000 final cost, even if it is at a lower rate. What am I missing here?
Message 13 of 14
Geordi
Regular Contributor

Re: Experian EE, no luck :( Advice requested!!


@Anonymous wrote:

I have called 10 times and keep getting told the earliest they can remove is the date listed, 3/2017. They say that this date is considered an early exclusion. ...

If you look at your Experian report and check the date of your first 30 days late, then add 7 years to that date you will see that the fall off date is 3 months earlier than your date of 30 days late plus 7 years.

 

Thus on Experian the fall off date is the early exclusion date (3 months early)

Message 14 of 14
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