I have a tradeline with an original creditor that was paid in May '06. This is an auto loan that the collection agency promised to delete but didn't. Okay I've accepted that for now.
On my equifax report...the date of 1st delinquency = 9/2004, the date of major delinquency = 9/2007. The reads current status = Charge Off, Charge off amount = $37,615. In the Account History = J (Voluntary Repo) since 09/2005.
Okay having said all that...
The account history is totally wrong! I have been unsuccessfully thus far at my attempts to get them to delete it, but as I stated earlier, the history is incorrect.
The account was paid in May 2006. They have been reporting this account delinquent since that time and it's not.
What should I do to get this corrected? They are willing to correct it, but I'm concerned that my fico score will tremendously drop if they touch it.
My problem at this point is that this is the only BAD item I have left on my report. I have been working since February to rebuild my credit and things have worked out pretty well for me. My scores have increase 123pts!
I'm trying to get an SBA loan for my business and I don't won't to this tradeline to hinder my efforts.
Please help! How can I correct this without it having an adversed affect on my scores?
