GM Financial and date of first deliquency

[mlc3542]

I am having trouble with this TL and I was hoping for some help.  I had an account with Americredit/ GM Financial which has been paid off back in 2012.  GM Financial of course bought/ or converted from Americredit. Due to mistakes back when, my truck was repossed (in 2007 I believe) in which I was fortunate to pay what was past due to get my truck back.  I then ran into problems again in which I was late back in 2010, but then caught up on my payments but resulted in and additional 3- 30 day lates.   I have old CR's from TU, EQ, and EX from 2012 with all pretty showing the Maximum date of deliquency at 8/2007.

In 2013 I was still new to the credit rebuild process taking pointers from various sources and did a dispute to the CRA's for various accounts which I threw GM Financial in the mix to dispute.  I believe I did an online dispute for all (Lesson learned, I know, I know certified mail with return reciept lol)  Well to this day, GM Financial removed everything previous of 2009 showing no data and only reporting the 3 lates from 2010.  The Maximum date of deliquency was removed showing no data. I then requested a reinvestigtion which the CRA's reported verified.  I wrote to GM Financial after the verification and didn't get an answer.  Everything else that was derogatory on my old CR's from back in 2007 has been removed due to it being obsolete.  Shouldn't this GM Financial account be too?  I have again disputed with the CRA's only to get the previously disputed and verified response.  I tried a GW back in 2013 and no luck.

I don't know what route to take or how I can get this account removed.  Please help!

[Anonymous]

If I understand you correctly, you caught the truck payments back up in 2010 and then had additional lates?  That would reset your DOFD to this date.  So if GM is showing those lates from 2010, they would be shown accurately.  If you're now current on the truck, the DOFD would be N/A because you are current.  Perhaps I'm not udnerstanding?  You could try to GW the lates.

[mlc3542]

I was able to catch up on the truck in 2008 and was making on time payments until 2010 again (April, May, June). The truck has been paid off since 2012. Basically, if I wouldn't have disputed a couple of years ago, then it would have already been off my reports? Now I'm looking at a 2017 removal? That's now my only negative account on my report. Guess I have to try again with the GW. Thanks for your input.

[joedtx]

Correct me if i'm interpreting that correctly, they reported the repo because of the delinquency but you were able to catch up and there able to keep the auto and then later on you had a late payment? If it has been reported correctly by GM Financial you can attempt to send them a Goodwill Letter explaining your situation at that time and that you did catch up and you met your obligation...etc..etc. and you are requesting consideration of the removal of the remarks on your report. Do a search on here for Goodwill letter examples for suggestions.

Good Luck

[RobertEG]

First things first.

Before even considering what the DOFD would be, there must have been a charge-off or similar action or a collection referral before the DOFD would have any meaning.

OC accunts do not themselves become deleted based on exclusion of derogs reported under the account.

Did the creditor report a charge-off?  A repo that would be considered a similar action to a charge-off?

If not, then DOFD is irrelevant.

If a repo is reported and is considered as becoming excluded based on being a similar action to a charge to profit and loss, then the DOFD controlling its exclusion MUST, by definition, be prior to the repo.  If the consumer had such an action and then paid and the vehicle was returned, a new first delinquency would not reset the DOFD that controls ultimate exclusion of the repo/charge to profit and loss, as the controlling DOFD must precede the CO to which it applies.

It is not common for an account to be reopened to use after a CO, and thus permit a new DOFD to occur that might then become relevant to a future collection, but it could happen.

[mlc3542]

http://i45.photobucket.com/albums/f78/mlc3542/mlc3542/Screenshot_2015-01-18-17-34-58.png

This is what I have on my 2012 report. I do not recall a charge off being reported. Currently is reported paid and closed with the max date of delinquency showing N/A and the payment history starting from 2008 to the end of the loan.

[mlc3542]

Also note that I didn't come across my 2012 reports until this week. That's what brought this to my attention

[RobertEG]

The report shows only monthly delinquencies, each of which has a credit report exclusion date of no later than 7 years after its month of occurence.

There was no need for any reporting of DOFD by the creditor.

Recourse for deletion prior to their full 7 years would be via a GW request sent to the creditor.

If they have previously denied a GW, then try contacting their executive office with a renewed request.

[Anonymous]

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@mlc3542 wrote:
I was able to catch up on the truck in 2008 and was making on time payments until 2010 again (April, May, June). The truck has been paid off since 2012. Basically, if I wouldn't have disputed a couple of years ago, then it would have already been off my reports? Now I'm looking at a 2017 removal? That's now my only negative account on my report. Guess I have to try again with the GW. Thanks for your input.

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No. Disputing the lates made no difference because the acount was subsequently brought current and then paid as agreed. A Paid as agreed account has no DoFD attached to it. So in that case each late is treated as an individual derog with its own drop off schedule of 7 years from the date of occurence. Once the last late falls off, the account becomes positive and will report as such for up to ten years from the date of closure (2022)