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Old Charge off being reported as new?!

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nycfico
Regular Contributor

Old Charge off being reported as new?!

I had a BOA charge off from several years back, so it was about three years old.  I hired Lexington Law and they sent BOA a challenge.  

 

Now it's suddenly being reported as a charge off in April!  I'm thinking that they confirmed the charge off and now it's being counted as new?  Does that sound right to anybody?

 

that would be disastorous as I finally am above 600 on two of the three agencies.

Message 1 of 5
4 REPLIES 4
SunriseEarth
Moderator Emeritus

Re: Old Charge off being reported as new?!


@nycfico wrote:

I had a BOA charge off from several years back, so it was about three years old.  I hired Lexington Law and they sent BOA a challenge.  

 

Now it's suddenly being reported as a charge off in April!  I'm thinking that they confirmed the charge off and now it's being counted as new?  Does that sound right to anybody?

 

that would be disastorous as I finally am above 600 on two of the three agencies.


They probably didn't re-age it, but if they updated the reporting, it would look a recent event.  



Start: 619 (TU08, 9/2013) | Current: 809 (TU08, 3/05/24)
BofA CCR WMC $75000 | AMEX Cash Magnet $64000 | Discover IT $46000 | Disney Premier VS $43600 | Venmo VS $30000 | NFCU More Rewards AMEX $25000 | Macy's AMEX $25000 Store $25000 | Cash+ VS $25000 | Altitude Go VS $25000 | Synchrony Premier $24,200 | Sony Card VS $23750 | GS Apple Card WEMC $22000 | WF Active Cash VS $18,000 | Jared Gold Card $16000 | FNBO Evergreen VS $15000 | Citi Custom Cash MC $14600 | Target MC $14500 | BMO Harris Cash Back MC $14000 | Amazon VS $12000 | Freedom Flex WEMC $10000 | Belk MC $10000 | Wayfair MC $4500 ~~
Message 2 of 5
nycfico
Regular Contributor

Re: Old Charge off being reported as new?!

So...does that mean it won't impact my score and will fall off within the original 7 year time frame?

Message 3 of 5
SunriseEarth
Moderator Emeritus

Re: Old Charge off being reported as new?!

It'll typically be excluded 7 years from the DOFD (sometimes up to 7.5 years, as that's what is allowed by law).  However, the update could make it look like a "recent" baddie and could lower your scores.   

 

 



Start: 619 (TU08, 9/2013) | Current: 809 (TU08, 3/05/24)
BofA CCR WMC $75000 | AMEX Cash Magnet $64000 | Discover IT $46000 | Disney Premier VS $43600 | Venmo VS $30000 | NFCU More Rewards AMEX $25000 | Macy's AMEX $25000 Store $25000 | Cash+ VS $25000 | Altitude Go VS $25000 | Synchrony Premier $24,200 | Sony Card VS $23750 | GS Apple Card WEMC $22000 | WF Active Cash VS $18,000 | Jared Gold Card $16000 | FNBO Evergreen VS $15000 | Citi Custom Cash MC $14600 | Target MC $14500 | BMO Harris Cash Back MC $14000 | Amazon VS $12000 | Freedom Flex WEMC $10000 | Belk MC $10000 | Wayfair MC $4500 ~~
Message 4 of 5
gdale6
Moderator Emeritus

Re: Old Charge off being reported as new?!


@nycfico wrote:

I had a BOA charge off from several years back, so it was about three years old.  I hired Lexington Law and they sent BOA a challenge.  

 

Now it's suddenly being reported as a charge off in April!  I'm thinking that they confirmed the charge off and now it's being counted as new?  Does that sound right to anybody?

 

that would be disastorous as I finally am above 600 on two of the three agencies.


The unwelcome side of disputes, yes its legal to update it and by doing so its going to drop your score if it had not already been updating monthly. If its unpaid I would suggest you work on getting a PFD or settlement of some sort so it will not continue to update monthly.

Message 5 of 5
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