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Regular Contributor
Posts: 150
Registered: ‎01-30-2008
0

Account Closed as DOFD?

Ok, I remember seeing something about this subject but I cant find the exact post anymore.
 
I have an old repo on all three CRs -
 
EX shows it as "Unpaid balance reported as a loss by credit grantor", with a Date of Last Payment of June 2001, but a date of last activity as April 2006 (somehow the JDB was able to show a 90+  late in 4/06 on a car that was repoed and charged off in 2001!! But thats another story...)
 
TU shows it as "Charged Off" with a DOLA as 6/2001 and Date Closed of Oct 2001 - On my hard copy printout TU shows account will drop off in Nov 2008.....Same JDB date of assigned 4/06 here also but at least no 90 day late added.
 
EQ shows it as "repo" but with the past due amount also showing?!  They also show DOLA of June 2001. The JDB date of assignment is also 4/06 on this one, but at least they still show a DOLA of June 2001...
 
I am not gonna touch any of these until I see what happens in fear of making things worse, but I am curious as to when things will drop off on which CR? Hopefully the OR reports will start to drop off and then I ll deal with the JDB after the OC stuff is confirmed gone. But I am curious as to why is TU using the Account Closed date instead of DOLA as I understood.....?  What are thoughts as to whether the JDB will still be on there after the OC has dropped off?
 
Any info would be great....
Moderator Emeritus
Posts: 7,970
Registered: ‎12-19-2007
0

Re: Account Closed as DOFD?



sh9730 wrote:
Ok, I remember seeing something about this subject but I cant find the exact post anymore.
 
I have an old repo on all three CRs -
 
EX shows it as "Unpaid balance reported as a loss by credit grantor", with a Date of Last Payment of June 2001, but a date of last activity as April 2006 (somehow the JDB was able to show a 90+  late in 4/06 on a car that was repoed and charged off in 2001!! But thats another story...)
 
TU shows it as "Charged Off" with a DOLA as 6/2001 and Date Closed of Oct 2001 - On my hard copy printout TU shows account will drop off in Nov 2008.....Same JDB date of assigned 4/06 here also but at least no 90 day late added.
 
EQ shows it as "repo" but with the past due amount also showing?!  They also show DOLA of June 2001. The JDB date of assignment is also 4/06 on this one, but at least they still show a DOLA of June 2001...
 
I am not gonna touch any of these until I see what happens in fear of making things worse, but I am curious as to when things will drop off on which CR? Hopefully the OR reports will start to drop off and then I ll deal with the JDB after the OC stuff is confirmed gone. But I am curious as to why is TU using the Account Closed date instead of DOLA as I understood.....?  What are thoughts as to whether the JDB will still be on there after the OC has dropped off?
 
Any info would be great....



If they are, I would send an ITS letter to them and I will bet that it will go adios. You can expect the accounts to drop off in 7-7.5 years after DOLA. What's your state's SOL? If past SOL, DV the JBD and make them prove their right to be able to collect from you. You have to shift your paradigm. You shouldn't be afraid of them, they are to be afraid of you. They just can't go placing whatever they want on your CRs. They seem to be in violation of the FCRA and subject to $1,000 to YOU for every bogus entry they make on your account. Keep good records and rack up the violations, then sue their butts.
___________________________________________________________________
Do what is true in spite of the consequences--your future is only as true as you are.
Regular Contributor
Posts: 150
Registered: ‎01-30-2008
0

Re: Account Closed as DOFD?

Well, first off thanks for responding!  I didnt think anyone would at some point!  As for the comments, I agree, and I will, but since I have good enough scores to get decent mortgage now, and score should increase even more as these baddies age even more and I bring my utils down over next couple months, wouldnt it be safer to just keep the status quo, get my loan, see what happens in June/July from the OC reports, and then go after the JDB if they are still posting any info? Other than the mortgage I have no intent on needing any other credit between now and then.
 
I live in CA and will be moving to AZ and the SOL is long over for both states on these so I m not worried about that...I just dont want to interrupt my loan processing that I ll be doing in April/May?
 
Thanks!
Moderator Emeritus
Posts: 7,970
Registered: ‎12-19-2007
0

Re: Account Closed as DOFD?



sh9730 wrote:
Well, first off thanks for responding!  I didnt think anyone would at some point!  As for the comments, I agree, and I will, but since I have good enough scores to get decent mortgage now, and score should increase even more as these baddies age even more and I bring my utils down over next couple months, wouldnt it be safer to just keep the status quo, get my loan, see what happens in June/July from the OC reports, and then go after the JDB if they are still posting any info? Other than the mortgage I have no intent on needing any other credit between now and then.
 
I live in CA and will be moving to AZ and the SOL is long over for both states on these so I m not worried about that...I just dont want to interrupt my loan processing that I ll be doing in April/May?
 
Thanks!



SH, I think that it's a matter of personal preference. The one thing to watch out for, however, is if the lender would want that collection "paid off" as a condition for granting the loan. I've seen that too many times before. With that said, you have to do what you are most comfortable doing. I would talk the lender.
___________________________________________________________________
Do what is true in spite of the consequences--your future is only as true as you are.
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