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Senior Contributor
DaBears
Posts: 3,923
Registered: ‎10-26-2012

Re: Multiple same OC's?!

Lates fall off after 7 yrs from the date of occurance. Onces it falls off the account becomes a positive TL and will remain on your CR for a total of 10 yrs from the date closed.

Established Member
pimpedoutgeese
Posts: 33
Registered: ‎03-06-2013

Re: Multiple same OC's?!

Thank you guys for so much help and ideas wow never thought of GW letter, might work might not but gives an option!

 

Now from what I read from the other post SOL is from current residence? How about this...?

 

http://i748.photobucket.com/albums/xx129/pimpedoutgeese/fico1.png

 

This is the charge off I was talking about. I seen the DoFD and was wondering based on the SOL of a post I seen here, a sticky about SOL on bankrate.com, PA is 6 years. Do you think its possible to remove this? Shouldnt it have fallen off on its own? Whats the way to go about removing this from my history if possible?

 

Again, Thanks in advance for your time and generousity. So appreciate the knowledge you share.

 

 


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Moderator
guiness56
Posts: 22,408
Registered: ‎01-17-2008

Re: Multiple same OC's?!

DoFD of 07/2006 would have a mandatory exclusion date of Jan 2014.  It is 7.5 years from the DoFD.

 

SOL for suing is determined by the states and starts at the DoFD also.  In your case your state SOL would have expired July 2012 so they cannot bring suit and win if you use expired SOL as an affirmative defense.

Established Member
pimpedoutgeese
Posts: 33
Registered: ‎03-06-2013

Re: Multiple same OC's?!

Ok wait a minute, I just want to make sure I get this in my head...

 

So SOL is basically used only court, the SOL of being sued. DoFD is when the 7.5 years begin and when the collection/charge off falls off your credit report, correct?

 

I have to say I am truly amazed with this forum, any other forum you'd be waiting atleast a day. Again, thank you...


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Moderator
guiness56
Posts: 22,408
Registered: ‎01-17-2008

Re: Multiple same OC's?!

[ Edited ]

By George, I think he got it!  Yes, you are correct!

 

ETA:  I hope you are a he.  If not I apologize.

Established Member
pimpedoutgeese
Posts: 33
Registered: ‎03-06-2013

Re: Multiple same OC's?!

Thank you, Thank you....

 

And yes.. I am a man :smileyhappy:


Starting Score: EQ FICO - 518 TU FICO - 534 EX - ???
Current Score: EQ FICO - 605 TU FICO - 584 EX - ???
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Moderator
guiness56
Posts: 22,408
Registered: ‎01-17-2008

Re: Multiple same OC's?!

Established Contributor
Leadberry
Posts: 610
Registered: ‎01-31-2013

Re: Multiple same OC's?!

[ Edited ]

guiness56 wrote:

Most think I am, not sure why.


You're...a woman?

 

For some reason, the name guiness makes me think of the beer, which makes me think of a guy wearing a greasy tank top getting drunk at his computer desk.  A bit of a colorful interpretation of a simple word, I know.  :smileytongue:

   
   
Established Member
pimpedoutgeese
Posts: 33
Registered: ‎03-06-2013

Re: Multiple same OC's?!

Ok guys... and gals?? :smileyhappy: how about this one... I want to know if there's any forum posts that help me read my report. I might not understand what is all on that and I was curious. Sometimes it is confusing for me and I get overwhelmed.

 

But from what I can tell....

 

The accounts sections (installments loans, credit cards, mortgages, etc..) is usually where the OC is right?

Now from reading around here once the OC is on there, they are on there right? Also if the OC sells the debt, the OC is still on the report AND also a corresponding CA?

 

I'm trying to devise a plan of attack on my credit (sounds awful) and I wanted to get a better picture of things so I can get a better way to go about doing this. Do I DV OC's? I was thinking of DV EVERYTHING in the report (not the positive accounts) including OC's and CA's is that right? Or do I just DV the CA's?

 

Ok I'm going to assume I DON'T DV the OC's can I still PFD with them? If not can I GW them? Not sure about my options with OC's. I know I DV CA's and then PFD them. I'm just so impatient lol I want to start the process now but I must get educated first haha don't want to make mistakes!


Starting Score: EQ FICO - 518 TU FICO - 534 EX - ???
Current Score: EQ FICO - 605 TU FICO - 584 EX - ???
Goal Score: 720 Across the board!!!


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Frequent Contributor
cqdealer711
Posts: 323
Registered: ‎02-17-2013

Re: Multiple same OC's?!

Yes, you dont DV the OC's  , however, you can certainly go the PFD route with them.

 

certainly you can DV all the CA's and see what happens, some might even remove the TL with just this letter.  Then the ones that verify you can PFD them next.



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