Account >120 days past due for 4 years but not in collection?!

[resuscitatemycredit]

hello,

been lurking here for a while and finally joined.  i've got to say that i've learned many insightful information here and trying my best to retain and practice it. thanks to the contributors. i have a quick question, i have something in my CR that confuses me, question is it has been past due for the last 4 years, but the account wasn't reported to a CA or hasn't been CO?! what gives and what should i do? should i contact the OC and make an arrangement? GW it? i've been trying to repair my credit to buy a house. i will paste the info below:

T.I.A.

TFC CREDIT CORP   

POB 579
SAN RAMON, CA 94583

(925) 838-1222

Date Opened:

08/22/2008

Responsibility:

Individual Account

Account Type:

Installment Account

Loan Type:

STUDENT LOAN

Balance:

Date Updated:

07/31/2010

Payment Received:

$0

Last Payment Made:

12/23/2008

High Balance:

$11,597

Pay Status:

>Account 120 Days Past Due Date<

Terms:

$369 per month, paid Monthly for 36 months

>Maximum Delinquency of 120 days in 05/2009 for $1,515 and in 07/2010<

Estimated month and year that this item will be removed: 

01/2016

06/2010 = 120

05/2010 = 120

04/2010 = 120

03/2010 =  120

02/2010 =  NR

01/2010 = 120

12/2009 = 120

11/2009 = 120

10/2009 120

9/2009 = N/R

8/2009 = 120

7/2009 = 120

6/2009= 120

5/2009 = 120

4/2009 = N/R

3/2009 = 60

2/2009 = OK

1/2009 = OK 

12/2008 = OK

11/2008= OK

10/2008 OK

9/2008= OK

[RobertEG]

The creditor apparently ceased updated reporting   The currrent status thus remains the delinquency status as of their last reporting.

They could have continued to report additional delinquencies, but apparently chose not to further update.

They could, at any time, choose to charge the debt to profit and loss and/or refer for collection or sell the debt.

Thus, the possibility exists for additional derogs.

The reported montly delinquencies can continue to show in your CR for 7 years from their indvidual dates of delinquency.

Since no charge-off or collection has yet reported, the DOFD is not now relevant to their reporting, and the monthly delinquencies would not become excluded based on the date of first delinquency.

They are not likely to grant good-will deletion of derogs on a delinquent account.

You can offer to pay the debt in exchange for their agreement to delete the derogatory reporting or the entire account.

[pizzadude]

I've heard of this happening with student loans ~ the creditor never charges the loan off or sends to collections but just leaves it open.

I'll move this to the Student Loans board where others should be able to chime in with advice.

[revivemycredit]

thanks for the reply, this is still me the OP, somehow i can't retrieve my original acct. 

anyways, i really don't think i can offer a PFD at all. i can't come up with that kind of money even IF they accept 25% PFD. should i offer payments? will that renew the account and reset things again instead of falling of my CR on 1/2016? thanks

[onocengo]

hello

 could you please let me know which credit agency you pulled this report from? is it TU?

thanks