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Help please, when will this fall off CR?

New Contributor

Help please, when will this fall off CR?

This is the only Baddie left on my CR, I am currently disputing this with all 3 CRA's .. I lived in MO all my life, recently moved to Nashvile on 8/2013

Any help/advice would be greatly appreciated.

 

Both EX and EQ report this as: 

Condition: Paid

Balance: $0

Pay Status: 120 days late

 

TU reports as:

Condition:  Derogatory

Balance:  $3237

Pay Status:  Collection/Chargeoff 

 

 

Vehicle Loan Account

 

Date Opened:  12/2005

Date of last activity: 6/2010

Date Closed:  11/2010

 

Balance: $0

 

30 days late: x9   60 days late: 1   90 days late: x3    Smiley Embarassed

Start: 7/25/16 EQ: 605 TU: 597 EX: 611
Current: EQ: 703 TU: 741 EX: 700


Message 1 of 7
6 REPLIES
Valued Member

Re: Help please, when will this fall off CR?

Should be 11/2017 or 06/2018 it's either 7 years or 7.5 years.

 

The SOL date would be 06/2015  Nevermind, it says you paid it.


Starting Score: 585
Current Score: TU FICO 693 EQ FICO 663 04/04/2014
Goal Score: 720


Gardening since 04/09/2014
Message 2 of 7
New Contributor

Re: Help please, when will this fall off CR?

Well i didnt pay it... vehicle was sent to auction and sold for more than the balance owed.

 

Will this have a very negative impact on my Fico Auto score when attempting a loan for a new vehicle?

Start: 7/25/16 EQ: 605 TU: 597 EX: 611
Current: EQ: 703 TU: 741 EX: 700


Message 3 of 7
Valued Member

Re: Help please, when will this fall off CR?

I would honestly just send the company a good will letter asking them to remove all bad marks. It works for some people, it's only the cost of a stamp. It's not good, but it was 4 years ago. You should still qualify, just with a higher interest rate.


Starting Score: 585
Current Score: TU FICO 693 EQ FICO 663 04/04/2014
Goal Score: 720


Gardening since 04/09/2014
Message 4 of 7
New Contributor

Re: Help please, when will this fall off CR?

BatHunters,

 

I appreciate all your help.  I'm going to try the GW route

Start: 7/25/16 EQ: 605 TU: 597 EX: 611
Current: EQ: 703 TU: 741 EX: 700


Message 5 of 7
Community Leader
Legendary Contributor

Re: Help please, when will this fall off CR?

It's an OC account, so the account itself will not become excluded, and will remain absent the derogs as they individually become excluded.

 

Each of the monthly delinquences will be excluded no later than 7 years from their date of occurence.

The report is a bit unclear as to whether they did a charge-off or referred for collection, but in either event, any reference to a charge-off or collection must be excluded no later than 7 years plus 180 days from the DOFD on the account.

 

"Pay status" is apparently referencing your Payment Rating status, which is retained as the last level of delinquency prior to its current status as paid.

I would not be concerned with that issue, as the derogs still remain in your file, and that reporting is reflecting prior history, not current status.

 

The current reporting with each CRA appears inconsistent.  Reporting to EX and EQ shows the debt was discharged, while the reporting to TU has not updated, and still shows a debt balance due.  My primary concern would be getting the TU reporting updated.  One pulling only your TU report would see an unpaid debt.

They apparently failed to report an update to TU once the vehicle was sold and the net remaining debt was thus discharged.

 

What were the speicifc inaccuracies that are currently under dispute?

 

 

Message 6 of 7
Highlighted
New Contributor

Re: Help please, when will this fall off CR?

Thanks for the response. I pulled my CR's, havnt in a long, and noticed the inaccuracies in the report by TU so i clicked dispute and croseed my fingers. This was a couple days ago, before i started reading forums and gathering a wealth of knowledge. Smiley Happy
Start: 7/25/16 EQ: 605 TU: 597 EX: 611
Current: EQ: 703 TU: 741 EX: 700


Message 7 of 7