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