Next step for me?

[casmith1980]

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@FrugalRican wrote:

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@TBOY012 wrote:

What should my next course of action be? I will be sending out my first round of GW's tomorrow and are their anything else I can do?

I have a Chase accout that shows 1 30day from May of 2007 although the acct has been closed since May or 2006. Should I just wat til May and let it fall off since im

in NY or should I dispute it?

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Maybe I'm confused, but where is anyone getting that the account will be removed in May 2012?

Wouldn't it be May 2014?

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That's what I'm seeing as well....and it's quite possible that May 2007 is the DOFD which could result in it not being removed until Nov. 2014.  The "good" account would last until May 2016 (typically 10 years after closing).

Edit:  One more note:  although each state is different on their SOL, the FRTP is always the same.

[annielorie]

FRUGAL I said may 2012 cause I read the account was closed in May 2006.  Im losing it. I retract my statements prior. If you have any information that proves the account was closed in May of 2006 make copy send letter to CRA in your own words about the late being a falsehood if closed.  Please delete this information as it is clearly inaccurate. Short and sweet.

[FrugalRican]

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@annielorie wrote:

FRUGAL I said may 2012 cause I read the account was closed in May 2006.  Im losing it. I retract my statements prior. If you have any information that proves the account was closed in May of 2006 make copy send letter to CRA in your own words about the late being a falsehood if closed.  Please delete this information as it is clearly inaccurate. Short and sweet.

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It doesn't matter if the account was closed in May 2006. What's being reported is a "late" from May 2007.

And even if the DOFD happened to be in May 2006, it still wouldn't come off til May 2013.

In other words, this negative is going to be on his report for AT LEAST another year or so.

[annielorie]

Igot that Im special today I have 2005 in head. Maybe time to go eat some lunch?

[annielorie]

At this point the only thing I can say is   annielorie wrote  

:

 FRUGAL I said may 2012 cause I read the account was closed in May 2006.  Im losing it. I retract my statements prior. If you have any information that proves the account was closed in May of 2006 make copy send letter to CRA in your own words about the late being a falsehood if closed.  Please delete this information of a late payment as it is clearly inaccurate. Short and sweet.You cant be late on a closed account. 

[casmith1980]

You can be late on a closed account if he closed the account prior to the balance being paid off which resulted in a late payment...

some people close accounts with balances just to avoid future AFs...

not sure if that's the case with this though.

[annielorie]

I respectfully disagree wouldnt that then be a chargeoff I mean there is an entire year before they reported a late if that was a fact then he would have 30 60 90 120 late then maybe I dont understand what your saying could you clarify.  Account closed and not paid on=collection Im so lost in this one where is the original author need clarification.  I dont want to thread jack   is there a moderator seeing any of this clarificastion PLEASE

[FrugalRican]

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@annielorie wrote:

I respectfully disagree wouldnt that then be a chargeoff I mean there is an entire year before they reported a late if that was a fact then he would have 30 60 90 120 late then maybe I dont understand what your saying could you clarify.

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If I close an account with a balance remaining of $1000 and I have to pay $100 a month... and I'm not late on the payment til the very last month, then it is very feasibly possible that the account was closed 10 months earlier and you wouldn't be late on a payment towards that account until then.

Account Closing != Account Delinquent

[annielorie]

I surrender I dont know if there was a balance  when closed or not and the author has gone awol while we have been batting this out he has not jumped in maybe he will read this and think oh my god and maybe he will give some clarity  

[TBOY012]

Wow.. alot  happened while I wasnt looking, so allow me to clear up a few things here

1. DOFD and only delinquency listed on the account is Jan 2007 (I deny there ever being a late pymt)

2. The Balance on this card was transfered to another Chase card was told that it would be closed, which is why I questioned why the

date closed was May 2006 and last activity was May 2007

3. Reason why I stated 5 years was because I read per NewYork rules, it should fall off in 5 yrs and not 7 years

Hope this clears a few things up