05-12-2011 07:51 PM
Hi folks, just a quick question. - I had a vehicle reposessed in mid 2007 and of course, the OC has it listed on my CR, the OC sold the account in mid 2010 to another company who has recently turned it over to an CA, it's not listed on my CR yet but i expect it probably will be. While i know it will be a new listing, I was wondering how it might hurt my CS, will it be counted as a brand new collection or will it be seen as a continuation of the OC's report with the repo on it. It has been a little more than 4 years since the DOFD on the repo. I'm not sure i am wording this right, but if anyone can understand what i'm trying to say, lol, any input would be appreciated. Thanks again to all the fine folks in the fico forums.
05-13-2011 07:26 AM
I understand. The answer is :YMMV. It depends on how it reports. I don't fully understand which fields each FICO version looks at for each CRA, but they will look at the DOFD (age of the debt) and will look at other dates like the DOLA or Reported or Status dates. A new CA will report a new "Open" date but I know that's meaningless per scoring (and reporting).
Back when we could pull our EX FICOs from here, I was enjoying a clean EX report and had a 4 year old debt get reported by a CA. My EX FICO dropped 104 points. While it reported a correct DOFD (based off the drop off date), I can't help to think that the DOFD played virtually no part in the amount of points lost.
05-13-2011 06:50 PM
Thank you for the reply, i am not sure what YMMV stands for, but i think i understand what your telling me, I appreciate the input. again you people in the fico forums are great, I can only hope i can one day help people like you guys do. I guess all i can really do is wait and see what happens if or when the new CA reports it. Thank You
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