I have an account with Beneficial/HSBC. I have applied for a mortage and this account came up as a charge off from 2006-on only my Experian report. I called there today to get some more information about this account. The total due is $1951.68
They are stating that it was an installment loan opened on 6/18/2002, and last payment was received on 7/12/2004. Right now the account department handling this is the inactive/dead files department. I think that the SOL in Illinois for this account is 5 years, I've asked my lender about this and asked if given the age and lack of retaining an attorney to pursue this as a legal matter-if it might be possible to get the mortgage without settling first. I have requested copy of loan contract from Beneficial/HSBC as I no longer have any records pertaining to this account.
Have I taken the correct actions on this account? By requesting the DV-have I opened up a sleeping can of worms. What should my next steps be? Maybe I should have posted this on mortgage boards, any underwriters out there have any idea what my underwriter will say about this? They've all gone home for the day-leaving me wondering.
