Macy's Charge Off

[jmitch190]

I have a joint unpaid charge off in the amount of $287 that I just found on my reports during this repair mode im in. It dates back to 2012. I was wondering if you guys had any advice in dealing with Macys and what the steps might be. I've read forums where Macys was pretty pfd friendly. Thanks for any help in advance!

[RobertEG]

Once they have reported a CO, they must provide the date of first delinquency on the debt that preceded the charge-off to the CRA.

The CO then becomes excluded from your credit report no later than 7 years plus 180 days from that reported DOFD.

Some credit reports will provide the actual DOFD, while others will show the CRA calculation based on that reported DOFD of when they expect it will become excluded.

What is the DOFD, or alternately, what is the expected fall off date provided by the CRA in your credit report?

That will tell you when the CO will cease to affect your credit scoring.

However, exlcusion of the CO will not discharge the debt.  Thre is still benefit to paying the debt.

As the debt gets near or passes its credit report exclusion date, the creditor may be more willing to accept a lower settlement.

[Anonymous]

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@RobertEG wrote:

Once they have reported a CO, they must provide the date of first delinquency on the debt that preceded the charge-off to the CRA.

The CO then becomes excluded from your credit report no later than 7 years plus 180 days from that reported DOFD.

Some credit reports will provide the actual DOFD, while others will show the CRA calculation based on that reported DOFD of when they expect it will become excluded.

What is the DOFD, or alternately, what is the expected fall off date provided by the CRA in your credit report?

That will tell you when the CO will cease to affect your credit scoring.

However, exlcusion of the CO will not discharge the debt.  Thre is still benefit to paying the debt.

As the debt gets near or passes its credit report exclusion date, the creditor may be more willing to accept a lower settlement.

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In regards to what RobertEG said I currently have a macy's charge off that I found out about and its from 2010. They weren't very helpful unfortunately they told me because its past SOL they're unable to collect payment or offer any settlement or arangements.

They told me I could submit a voluntary payment via mail and they'd update it but thats about it and also Citibank owns the debt now but Macy's reports on my CR. When I called the Macys number they transferred me to Citi. 

Good luck with yours since it's not quite old as mine and if you get anything good please let me know and maybe i'll try my luck again

[jmitch190]

I appreciate the help guys. I'll keep working on them and if I can't win, i'll just settle with them. It was a joint card with my ex so that's how that rolls.