Re: Keeping a good TL from aging off

ilovepizza · ‎05-17-2007

hehe that's great.

If we never set higher goals we would never get as far.
sol, credit 101, acr, abbreviations, calc

Noah_Bodie · ‎03-11-2007

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.

Newbie Guide - Never be late - Friendly CCCs - CC Tactics
Credit Monitoring - Fax Disputes to the CRAs - Abusive Phone Calls
SOL v. CRTP - DV - I've DVed, now what? - GW - MOV - Recon
Being sued? - Medical bills/collections - Magic Eight Ball

Anderson · ‎06-03-2007

Unbelievably

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

Timothy · ‎03-19-2007

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 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

Anderson · ‎06-03-2007

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....

r92503lind · ‎07-19-2007

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.

Noah_Bodie · ‎03-11-2007

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.

Newbie Guide - Never be late - Friendly CCCs - CC Tactics
Credit Monitoring - Fax Disputes to the CRAs - Abusive Phone Calls
SOL v. CRTP - DV - I've DVed, now what? - GW - MOV - Recon
Being sued? - Medical bills/collections - Magic Eight Ball

Noah_Bodie · ‎03-11-2007

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.