Would a GW letter work?

[Bountyhunterboba]

I have an auto loan CO from Wells Fargo for a car I voluntary repod in 2002 . The charge off was in 2009 and I received a  1099c for it this year asking me to pay taxes . 

I have disputed the reporting to all 3 bureaus several times in an effort to have it removed because its well past 7 years from original delinquency . It still shows on all 3 bureaus . 

I was thinking about writing a good will letter to WF to try and have them remove it . Would this be the right move ?

OP, the thread you posted in was over a year old.  I moved your thread here and put a new subject line to better serve you.  Feel free to edit the subject.

guiness56, myFICO Moderator.

[RobertEG]

You can certainly request the OC to delete their reporting, but having charged-off the debt and than cancelled it by sending a 1099c, they may not be too receptive to grant of good-will deletion based on a debt for which they took a loss.  Give it a try.

However, with the debt now discharged, you no longer have an issue of having an unsatisfied debt, and addressing the CR exclusion issue with the CRA may be all that is needed.  Once excluded from your CR, it will cease to affect scoring.

If the issue is one of credit report exclusion if the CO, then any dispute will hinge totally upon the DOFD that the OC reported.

The CRA will simply rely on the accuracy of that reported DOFD, and CR exclusion wll thus not be required until after 7 years plus 180 days from that date.

If error is in the reported DOFD, then the CRA is not at fault for any lack of credit report exclusion.  However, if the DOFD is more than 7 yrs plus 180 days ago, they must exclude, and if they fail to do so, you can file a complaint with the CFPB.

What is the DOFD that was reported by the OC after doing the charge-off?

Once you know that one date, you can address the issue of credit report exclusion.

[Bountyhunterboba]

The last payment shows as 4/2002 

The last date reported we 6/2008

Thats all the account shows . I was trying to get a USDA loan but the broker said they wouldnt approve it with an unresolved charge off . It  shows as disputed in EXP and EQ 

[guiness56]

To be clear, your last payment was in 2002 and the account was not CO until 2009?  That cannot be correct as they are required to CO the account within a certain amount of time.  For an installment loan that would be about 120 days past due.

Does it say when the account is supposed to be removed?  And who is reporting it?

Can you post exactly how it is reporting?

[Bountyhunterboba]

It is reported by all 3 bureaus . 

I turned the car in 02 for voluntary repo . Its supposed to fall off in 2015

How can I post  a pic of the line on my CR ?

[Bountyhunterboba]

Account Name Balance Balance Date Monthly Payment Term

▼ WELLSFARGO	$2,785	09/30/2008	$491	60
How to Dispute Account Details Payment Status Creditor Contact Account NameAccount NumberConditionResponsibilityCurrent BalanceOriginal BalanceLimitMonthly PaymentLast PaymentStatusTermLoan TypeOpenedReportedRemarks WELLSFARGO 180107014946**** Derogatory Individual $2,785 $18,608 $0 $491 04/19/2002 Collection / Charge-Off 60 months Installment sales contract 01/07/2001 06/30/2008 Charged off as bad debt|Profit and loss write-off

[Bountyhunterboba]

Sorry that didnt translate very well . Thats from my TU

[guiness56]

If it was repoed in 02 they have reaged the account which is very illegal.  Getting behind in 02 it should have been CO'd in 02/03 and should not be on your CR any longer.

[Bountyhunterboba]

Where do I go from here ? Im guessing I have to furnish some sort of proof? Im very anxious to get this off my report so I can buy a home.

Thanks 

Jeff

[Bountyhunterboba]

It shows as account in dispute on EQ and EX do I have to remove the dispute before it drops off ?