PFD after dispute?

[meeklo062704]

Subtracting the years from January 2016 seems to be the only way to figure it out, because the DOFD isn't listed anywhere. So realistically, as of January 2016 that account is supposed to disappear regardless of who holds the debt, or how long they've held it for? If paying for it is the only way to get rid of it, then so be it. If there is a way to get rid of it without paying for it, that would be preferable based on principle. I paid for internet service for a long time, and they delivered a speed $20 lower than what I paid for. There explanation was that I didn't call to let them know to turn the speed up. Their refusal to do anything to remedy the imbalance is what caused me to cancel the service and incur an early termination fee. So if I have to pay them to get rid of it I will. If I don't, I'd rather see the money go to something more noble, like buying beer for homeless people.

[redbeard]

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@Anonymous wrote:

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@meeklo062704 wrote:

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@Rebuilding69 wrote:

It's from the Date of First Delinquency, not the date it was opened. The date it was opened just means the date the jdb/ca was given authority to start collecting/reporting.

Are you sure the debt has been sold? Was the old listing deleted off your credit report? If it was resold, you might be able to catch the new entity before they list it again & pay them in exchange for not listing it.

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Therin lies the odd part. I saved an old copy of my credit report. The original date of opening of the collection account was September 2010, and the note says that it would be listed until January 2016. It was removed in July 2014, so I figured it was just an early reprieve. All of a sudden I get a new collection account on transunion report 2 days ago. When I checked the account it said that it was opened in May 2014, but for some reason nothing showed up until this week. It's the exact same $247 between the old and new account. I'm not concerned with the amount, I just want it gone so it doesn't drag down my score that I have worked my butt off to improve.

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I just reread your posts.  The part in red above says it will be listed until Jan 2016 so we can subtract 7 years from that date and make a good guess that it has a DoFD of Dec 2009.

That is the date the drives everything else.

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Actually, it would be Dec 2008, not 2009, if anyone is really counting.

If it comes off in Jan 2016, which means its probably already eligible for early exclusion and most likely past any statute of limitations, I would just ignore it and call the credit bureaus and ask for early exclusion.

If its only $247, I'd probably pay it as well, if I feel I owed it.  That part is up to you, but if you do, try to pay the OC not the CA.  Not a big issue if the CA hasn't put it on the report yet.

Dan

[meeklo062704]

I'm all on board with paying fair debt. I've done a lot of it while I have been rebuilding my credit. TW overcharged me by $20 for a couple years, so the $247 is less than I was overcharged for. I'd rather donate it to a charity.

So realistically, if I wait until February, I can successfully dispute it?

[Anonymous]

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@meeklo062704 wrote:
I'm all on board with paying fair debt. I've done a lot of it while I have been rebuilding my credit. TW overcharged me by $20 for a couple years, so the $247 is less than I was overcharged for. I'd rather donate it to a charity.

So realistically, if I wait until February, I can successfully dispute it?

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Nope - if you wait until February of 2016, you dont have to dispute it.

It should be Excluded from your reports automatically.  After 7 years (no more than 7.5 years, but typically 7 years) the CRAs will Exclude it from normal views of your CRs.

Again, it will not be deleted, it wont be paid, it wont be excused.  It will still be a valid debt.  It will just not be shown on regular reports.

A JDB can still buy the debt and still try to collect on it, but the CRAs should exclude it from showing for any CA in the future.  It will be time barred debt.

If a mortgage lender or future employer ever orders and pays additional for a  'full and factual report', it could show up on there.  I am not certain how long it still shows on a full and factual report.

But if you do nothing at all till February of 2016, it should roll off your reports automatically.

HTH

[meeklo062704]

Good info, thanks. So if I decided to pay and try to have it deleted, without a bunch of time wasted, what's the most reliable route?

[gdale6]

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@meeklo062704 wrote:
Good info, thanks. So if I decided to pay and try to have it deleted, without a bunch of time wasted, what's the most reliable route?

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Send the PFD offer to the CEOs office.

http://ficoforums.myfico.com/t5/Rebuilding-Your-Credit/PFD-Q-amp-A-Examples-and-PFD-Success-Stories/...

http://ficoforums.myfico.com/t5/Rebuilding-Your-Credit/PFD-Example-Letter/td-p/4519

[meeklo062704]

So I've waited for the fall off date in January 2016, and it's still showing on my report as of this week. What is the most expedient way to have it excluded? Would it be calling or writing the bureaus to dispute it? Are those dispute buttons on credit karma effective at all? I'm just trying to finally get it bumped since it doesn't seem as though MRS is going to stop reporting it.

[Anonymous]

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@meeklo062704 wrote:
So I've waited for the fall off date in January 2016, and it's still showing on my report as of this week. What is the most expedient way to have it excluded? Would it be calling or writing the bureaus to dispute it? Are those dispute buttons on credit karma effective at all? I'm just trying to finally get it bumped since it doesn't seem as though MRS is going to stop reporting it.

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Creditors don't "stop reporting" an item - all they do is report the original default date. The CRA's handle the exclusion of items based on their reported age. You can dispute them online, or you can just call the CRA's and ask them to remove them based on their age.

[meeklo062704]

Ah, got it. Is there any major difference in speed or effectiveness between calling and hitting the report button?

[Anonymous]

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@meeklo062704 wrote:
Ah, got it. Is there any major difference in speed or effectiveness between calling and hitting the report button?

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Calling will usually get it removed on the spot. Online may take a few days.