Hello, everybody.
I made the mistake of cosigning on a computer loan for my brother in 2000 and that damned thing is still haunting me despite having been paid off in 2006.
I keep disputing and asking for removal, but it hasn't worked just yet. While going through some old credit reports i noticed something odd though.
The loan was paid off in June of 2006 so there should have been no further changes to the account after that, and up until May of 2007 Transunion listed that account as being scheduled for delete effective March 2008. That May 2007 statement is the last time a delete date is listed AND is the month just before the reporting went completely weird.
Experian is the CR that showed the biggest freak-out. In April of 2007 it reported that there were 41 delinquencies out of 69 months the account was active, but in June of 2007 it stopped reporting everything prior to Jun 2004 which completely erased 44 months of payment (and late payment) information.
this made the entire negative payment history of that account appear to only be 36 months which seems to have reset the Date of First Delinquency.
After the massive deletion in 2007 the payment information for the reported account has only changed by 5 total months. June of 2004 went away in the middle of 2010 and as of May of 2011 they seem to have erased the remaining 2004 information. There isn't any consistency in any of this.
The question that i have before getting really pushy with Wells Fargo is what should the *official* DOFD be? Since Transunion listed the account as scheduled for deletion in March of 2008 *AFTER* the account was paid and closed and prior to the deleted reporting that should have been the date the item was deleted.
Here is the total payment history for that account:
2006 - CO,CO,CO,30,OK,OK - PAID IN FULL
2005 - OK,OK,OK,OK,OK,OK,OK,60,69,90,120,CO
2004 - OK,60,90,CO,CO,CO,CO,CO,90,60,60,30
2003 - 30,90,120,30,30,30,30,OK,OK,OK,30,OK
2002 - 60,60,90,OK,OK,60,90,OK,OK,OK,OK,30
2001 - 60,OK,OK,OK,OK,OK,60,90,120,OK,OK,30
2000 - OCT-NOV-DEC - OK,OK,OK
this account is over 10 years old and has been a negative on my CR for pretty much its entire life.
Is the fact that my brother actually made his payments in the first 7 months of 2005 going to work against the DOFD on this one? I don't even know if those were actually paid on time or if the creditor did some goodwill erases for him while the account was current. The account also lists as fairly clean for the first half of 2004, but the account was in collection that whole time so i marked the above as "CO" to reflect that even though the actual report said OK for those months.
The idea of having this account on my record for another 2 years really doesn't make me happy, but if they deleted all the lates rather than delete the account it would help my "average age of account" status.
Annoyingly enough, Transunion also reported this account as a Satisfactory account all the way from Jun 2007 up until Nov 2010 and then it went negative... nearly 4 years after the last payment was made.
any insight anybody can provide in the best way to address this would be very much appreciated.
-david
Starting Score: 563 10/2009
@llecs wrote:What's the date of the last CR you pulled for TU and EX? What's the drop off date showing for those? Looks pretty dynamic for that TL and I bet you'd see changes monthly.
When you have a CO loan, you'll first see a 30 day, a 60, a 90, 120, and so on. Eventually it'll show as a CO. That first 30 day late, assuming you never became current again, is the DOFD. This is date you first went late and never recovered. That baddie will report for 7-7.5 yrs from that DOFD. Unfortunately, when the account was brought current, the DOFD, as well as the 7-7.5 drop off date on your EX and TU reports, would reset. Are all of those lates exactly right? It might be worth contact the OC to get a payment history. You'd want to demonstrate that you never (or your brother) never brought the account current since 2004. Based on the reporting history of this report, it should be deleted next August.
no credit reports that i have pulled since June 2007 have had any drop off dates listed for that account (or any accounts for that matter as the rest are all positive). Nor have they ever had a listing for DOFD. I went ahead and called Wells Fargo and they were pretty unhelpful and actually laughed about how it's an 11 year old account that's still reporting negative. Over the weekend I found a bunch of old unopened statements and opened those, but they weren't all in there.
Wells Fargo said they'd send a complete account history and then i can take it from there. It should be here when i get back from vacation.
i pretty much hate wells fargo. bastards the lot.
so i'm back from my vacation and two hopefully significant things have occured:
1) wells fargo never sent the statement of account that I asked for.
2) equifax has not only exceeded the 30 days they were required to complete their investigation within (FCRA 611) but they have also exceeded the 45 maximum days allowable.
I'm a bit annoyed by number 1 because it prevents me from moving forward in trying to identify the proper dates and payment amounts and such, but number 2 should enable me to delete it completely which is a huge win (at least with Equifax... transunion presently has it listed as a positive account and experian still has it as a negative).
number 2 also means that i can have them delete the other big thing i was disputing... a public record that was paid years ago and actually had nothing to do with me and never should have been on my credit report anyway.