I have paypal smartconnect/GE charge off that continues to report monthly. It got into this state due to my current divorce and eventually went into a charge off status. However, I do have a few questions regarding it I was hoping to get answers on:
1. According to the CRA, the date of first major delinquency is reporting as 03/2013 - the month it began reporting as acharge off - BUT the first 30 day late was back in 10/2012 and continued until it became a charge off in 03/2013. Shouldn't the date of first major delinquency be 10/2012 or even when it went 90 days late in 12/2012? Can this be disputed and is there a benefit to getting it correct?
2. It continues to report monthly which I assumed is dinging my FICO severely. Anyway to get this not to report consistently?
So far, I've sent off a PFD but got no response so I recently sent off another so we'll see how that goes. I've also got in contact with Monarch - which appears to be their "collection agency" to collect on these accounts and they told me that they are not sure if they can have the tradeline removed. They are only here to collect on the account is what was stated.
Anything I can do to soften the blow or have it removed all together? Any known working stragedies is greatly appreciated
⋅ INQs: 6Anyone? Bueller?
@Ysettle4 wrote:I have paypal smartconnect/GE charge off that continues to report monthly. It got into this state due to my current divorce and eventually went into a charge off status. However, I do have a few questions regarding it I was hoping to get answers on:
1. According to the CRA, the date of first major delinquency is reporting as 03/2013 - the month it began reporting as acharge off - BUT the first 30 day late was back in 10/2012 and continued until it became a charge off in 03/2013. Shouldn't the date of first major delinquency be 10/2012 or even when it went 90 days late in 12/2012? Can this be disputed and is there a benefit to getting it correct? The DoFD would be 10/12 and the DoFMD should be 12/12, 90 days is the start of major delinquency. There is not benefit to disputing it but since its reporting monthly already you might as well force them to get it in order. The FCRA states if one reports information it must be correct info.
2. It continues to report monthly which I assumed is dinging my FICO severely. It keeps your score depresses yes as it looks new to Fico every month though it does not cost you more points every month that only happens once in the beginning. Anyway to get this not to report consistently? Settle it.
So far, I've sent off a PFD but got no response so I recently sent off another so we'll see how that goes. I've also got in contact with Monarch - which appears to be their "collection agency" to collect on these accounts and they told me that they are not sure if they can have the tradeline removed. They are only here to collect on the account is what was stated.
Anything I can do to soften the blow or have it removed all together? Settle it even if you cant get the PFD then begin GW letters in a few months to both the CA & OC. This debt is inside states SOL which means they can still sue..
Any known working stragedies is greatly appreciated
Thanks for the info. I've started by disputing the DoFD and DoFMD. Once I get that in order, I will attempt another PFD letter, followed by a GW letter.