Epic Contributor
Posts: 20,289
Registered: ‎03-19-2007
Re: Please respond!!
[ Edited ]

The date of the charge-off, either when it was taken or reported, is not the relevant date for your credit reporting concerns.

Both charge-offs and collections become excluded from your CR based on the same date.... the DOFD on the OC account that preceded either of those actions plus 7 yrs plus 180 days.


Locate the DOFD on the account by finding the date that you first went delinquent, and thereafter did not bring the account back into good-standing prior to either the CO or collection.  Add 7 years plus 180 days to that one date-certain, and that will be the date that both MUST be excluded from your CR.

If that date is prior to your mortgage app date, it wont be affecting your score at that time.


However, being excluded from their view by a simple pull of your CR might not, as you surmised, clear the decks.  If they are or become aware of that old, unpaid debt via other means, such as affiliate sharing of information or simply asking you upon application, whether you have any old, unpaid delinquent debt, it may still be a threshold issue for loan approval, regardless of its lack of current scoring impact.  So you take your chances....


As for suing, I have no idea of what violations they have made that may support legal action on your part.  From your post, I see no clear violation.

While you mention disputes and AG involvement, I dont see a stated basis for your asserted violation.  If the debt remains unpaid, charge-off does not in any way relieve your continued obligation for the entire debt, thus permitting either the creditor, their assigned debt collector, or any heir to the debt, to continue to attempt collection, and report those actions to the CRAs.

What is their violation?