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Senior Contributor
ilovepizza
Posts: 3,071
Registered: ‎05-17-2007

Re: Keeping a good TL from aging off

hehe that's great. :smileyhappy:
If we never set higher goals we would never get as far.
sol, credit 101, acr, abbreviations, calc
Senior Contributor
Noah_Bodie
Posts: 4,635
Registered: ‎03-11-2007

Re: Keeping a good TL from aging off



Anderson wrote:
 
yeah, maybe I'll just send them a check for $ 10.43 and see what happens.

If you've got the old account number, be sure to put it in the memo line of the check.
 
I daresay the process at most OCs is to record the account number and amount, then toss the check into the deposit bag. Checks get cashed, regardless. Only later, if they discover an overpayment, will the account get credited and/or will a refund be issued.
 
It's conceivable, if this works, that it could be used to keep old good TLs on your CRs indefinitely, or longer, unless the OC figures out the hustle. Until then, it's likely they'd update the CRAs with a new last reported date.
 
Maybe you get your $10.43 back. Maybe not.
 
Established Contributor
Anderson
Posts: 716
Registered: ‎06-03-2007

Re: Keeping a good TL from aging off

[ Edited ]
Unbelievably :smileytongue:   I do have the account #. I still have the truck, 15yrs old & running strong, and the release of lien with accnt # is stapled to the title. 
 
It is already gone from EQ. Still showing with TU & EX. On EX there is a notation- 'This account is scheduled to continue on record until Dec 2007'. So, do old good TLs fall off after 15yrs?

Noah_Bodie wrote:

If you've got the old account number, be sure to put it in the memo line of the check.
 
I daresay the process at most OCs is to record the account number and amount, then toss the check into the deposit bag. Checks get cashed, regardless. Only later, if they discover an overpayment, will the account get credited and/or will a refund be issued.
 
It's conceivable, if this works, that it could be used to keep old good TLs on your CRs indefinitely, or longer, unless the OC figures out the hustle. Until then, it's likely they'd update the CRAs with a new last reported date.
 
Maybe you get your $10.43 back. Maybe not.
 





Message Edited by Anderson on 07-23-2007 08:10 PM
Moderator Emeritus
Timothy
Posts: 9,252
Registered: ‎03-19-2007

Re: Keeping a good TL from aging off

10 years from last activity on positive accounts.
 
Going to work on this my self - my oldest accounts would drop next year....

Anderson wrote:
Unbelievably :smileytongue:   I do have the account #. I still have the truck, 15yrs old & running strong, and the release of lien with accnt # is stapled to the title. 
 
It is already gone from EQ. Still showing with TU & EX. On EX there is a notation- 'This account is scheduled to continue on record until Dec 2007'. So, do old good TLs fall off after 15yrs?

Noah_Bodie wrote:

If you've got the old account number, be sure to put it in the memo line of the check.
 
I daresay the process at most OCs is to record the account number and amount, then toss the check into the deposit bag. Checks get cashed, regardless. Only later, if they discover an overpayment, will the account get credited and/or will a refund be issued.
 
It's conceivable, if this works, that it could be used to keep old good TLs on your CRs indefinitely, or longer, unless the OC figures out the hustle. Until then, it's likely they'd update the CRAs with a new last reported date.
 
Maybe you get your $10.43 back. Maybe not.
 





Message Edited by Anderson on 07-23-2007 08:10 PM


Established Contributor
Anderson
Posts: 716
Registered: ‎06-03-2007

Re: Keeping a good TL from aging off

Ok, makes sense, was a 5yr loan.

Timothy wrote:
10 years from last activity on positive accounts.
 
Going to work on this my self - my oldest accounts would drop next year....
 
New Contributor
r92503lind
Posts: 73
Registered: ‎07-19-2007

Re: Keeping a good TL from aging off

What about disputing the account? If the last reported date is recent would it start the clock over again? Not sure but I thought it may work.
Senior Contributor
Noah_Bodie
Posts: 4,635
Registered: ‎03-11-2007

Re: Keeping a good TL from aging off



r92503lind wrote:
What about disputing the account?

Disputing good TLs tends to make them disappear. That's not a desired result, so I say don't do it.
 
Senior Contributor
Noah_Bodie
Posts: 4,635
Registered: ‎03-11-2007

Re: Keeping a good TL from aging off



Anderson wrote:
do old good TLs fall off after 15yrs?


In theory, good TLs remain forever.
 
In practice, good TLs drop after "some period of time". The CRAs and some OCs tend to follow a 10 year rule, but there's nothing under law and no caselaw I'm aware you. You basically are under the GW of the CRAs, which ain't a good place to be. There's nothing to prevent a good TL from dropping off your CRs once the OC stops reporting.
 
Established Contributor
Anderson
Posts: 716
Registered: ‎06-03-2007

Re: Keeping a good TL from aging off


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