False Info on Credit Report

[sparker256]

I need some info. I recently pulled my report and it shows a debt I had through a bank loan.
I admit I stopped paying the loan due to financial reasons I'm not arguing that. But I stopped paying them back in 2011. In my credit report it shows that I was in ok standing all the way up through January 2015. Then started showing the lates. So what it looks like to an underwriter is I just recently screwed the bank over. When in fact it's a 4 year old loan.
I'm just a little upset because I was wanting to apply for an auto loan soon but any one who pulls it is going to think I just recently stopped paying the previous loan.
Surely things don't work that way?

[gdale6]

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@sparker256 wrote:
I need some info. I recently pulled my report and it shows a debt I had through a bank loan.
I admit I stopped paying the loan due to financial reasons I'm not arguing that. But I stopped paying them back in 2011. In my credit report it shows that I was in ok standing all the way up through January 2015. Then started showing the lates. So what it looks like to an underwriter is I just recently screwed the bank over. When in fact it's a 4 year old loan.
I'm just a little upset because I was wanting to apply for an auto loan soon but any one who pulls it is going to think I just recently stopped paying the previous loan.
Surely things don't work that way?

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If its past the SOL send them a direct dispute. If you defaulted in 2011 then the DoFD has to have been set in 2011 and the account by law COed no later than 6 months post DoFD. This would be improper reporting based on the scenario you describe

http://ficoforums.myfico.com/t5/Rebuilding-Your-Credit/Direct-dispute/td-p/2309095

[RobertEG]

The FCRA does not require creditors to report delinquencies within any set time after their actual dates of occurence.

The requirement is that what they do report must not knowingly be inaccurate.

If the account was continually delinquent, then reporting it as such in Jan 2015 would not be inaccurate.

Any dispute may result in their update to show the account delinquency for each and every month since your first delinquency back in 2011.

If they did a CO, they were not required to have reported it to a CRA.  A dispute may well also result in their reporting of any CO.

[sparker256]

Upon looking at it closer it is charged off and it does say below that the date of first deliquency was in 2011. So while the calender diagram shows current up until January 2015 any one actually reviewing my credit report would see that the deliquency happened in 2011. 

I am going through the pre-approval process with capital one just to see if I get pre-approved since it will not damage my credit score according to the website. 

It stated that they would have to email me their decision. Not sure if that's good or bad but we shall see. 

If they can give me any kind of rate I will begin to rate shop. 

I will try to keep you all updated. 

Thanks for the help.