@smkkms78 wrote:I am again tending to my report in hopes of obtaining a mortgage, and I have an odd reporting I could use some help with...
HSBC bank (Credit Card) is reporting a charge-off as of 7-1-11, but it is listing the original creditor as the CA, Portfolio Recovery.
I am confused by a few things...
1. Since HSBC is the OC. Why are they listing the CA (Portfolio Recovery) as the OC? Can I dispute based on just this not being accurate?
I do know that back in early 2011 both OC (HSBC) & CA (Portfolio) were reporting at the same time, I disputed that they were multiple reporting and both TL's were removed, so I am not sure why it was added back several months later... I would like to send an OC Letter to HSBC also since I am unsure of the source of this debt. I did not bother doing so earlier, because the TL was removed, so I thought it was good. I was surprised to see it had popped back up. Would this be the correct couse of action? If it has obvious errors the thing to do is dispute it on those merits.
2. Reporting date shows "As of: 7-1-2011", however "Additional Account Information" shows the account was marked deliquent as of 4-1-2007.
Is the 4-1-2007 the date they will use to remove this TL? If this is the first instance of late payment that led to the CO then it is the DOFD. What effect does the reporting date of 7-1-2011 have (if any)? It would have just been a status date
3. And more general, do items "automatically" fall off at the 7/7.5 yr. mark? They should but not always do. I am in California, and since the SOL here is only 4 years, should items fall off the CR after only 4 years? No state SOL has nothing to do with the CRTP allowed by the FCRA
Thanks for your help!
