when would this fall off?

[Anonymous]

hey all

Trying to figure out if Ishould pay this off in full for removal of derogs or let it fall off.

Account Details
Last Reported Mar 31, 2012
Creditor Name 
Account Type Lease
Account Status Closed - Derogatory
Opened Date Sep 02, 2009
Closed Date Mar 31, 2012
Limit --
Term 48 Months
Monthly Payment $53
Responsibility Individual
Balance $1,293
Highest Balance $2,586
Payment Status Collection/Charge-Off
Worst Payment Status Unknown
Date of Last Payment Sep 23, 2011
Amount Past Due $362
Times 30/60/90 Days Late 0/0/0
Remarks Charged off as bad debt
Profit and loss write-off

thoughts?

[RobertEG]

It is a charge-off.

The CO will have a credit report exclusion date no later than 7 years plus 180 days from the DOFD.

The posting does not provide the reported DOFD.  It was most likely sometime in 2011, but you need to know the specific month/year of the DOFD.

You appear to have in the neighborhood of approx 3 years before exclusion.

Whether to pay is a separate issue of satisfying the debt, and is unrelated to credit report exclusion.

What is the SOL for your state for a written contract?

[tomfromrictmame]

That's impossible to answer with the information provided.  What date did it first become late (i.e. 30 days) and then stay late until it was charged off?