Frequent Contributor
MrChairman
Posts: 456
Registered: ‎02-07-2010
Cap 1 C/O

I have a Cap 1 C/O that is scheduled to fall off in June. Will it come off auto or will I have to dispute the tradeline? Is there any way I can get it off earlier? Lastly, since this is so old will I see an increase at all in my score?


Starting Score:TransUnion: 698 (12 FEB 2010), Equifax: 674 (12 FEB 2010)
Current Score (Lender Pulled):TransUnion: 695 (26 JUN 2013), Equifax: 636 (26 JUN 2013), Experian: 670 (26 JUN 2013)
Goal Score:All scores 700+ by Dec 2013!!

Take the FICO Fitness Challenge
Moderator
Shogun
Posts: 12,883
Registered: ‎04-15-2011
Re: Cap 1 C/O

Is it reporting incorrectly?  What would be the reason for a dispute?


Starting Score: 504

July 2013 score: EQ FICO 819, TU08 778, EX "806 lender pull 07/26/2013
Goal Score: All Scores 760+, Newest goal 800+

Take the myFICO Fitness Challenge

Current scores after adding $81K in CLs and 2 new cars since July 2013
EQ:809 TU 777 EX 790 Now it's just garden time!
Frequent Contributor
MrChairman
Posts: 456
Registered: ‎02-07-2010
Re: Cap 1 C/O

I was saying when June hits and its still on my report, could I dispute it to have it removed then?


Starting Score:TransUnion: 698 (12 FEB 2010), Equifax: 674 (12 FEB 2010)
Current Score (Lender Pulled):TransUnion: 695 (26 JUN 2013), Equifax: 636 (26 JUN 2013), Experian: 670 (26 JUN 2013)
Goal Score:All scores 700+ by Dec 2013!!

Take the FICO Fitness Challenge
Mega Contributor
RobertEG
Posts: 17,456
Registered: ‎03-19-2007
Re: Cap 1 C/O

The CRA is responsible for monitoring the reported DOFD on the OC account, and excluding the charge-off from your credit report no later than 7 years plus 180 days from the reported DOFD.  You need nothing except monitor your report to ensure it happens.  A dispute would not be appropriate, as the issue is not one of inaccuracy of reported information. To attempt earlier exclusion, you can try sending the OC a GW request. 

 

If the charge-off remains in your CR after its required exclusion date, send a complaint to the CRA for their violation of FCRA 605(a)(4).

 

How much score increase you are likely to see depends upon whether you have any other remaining major derogs.

 

Frequent Contributor
MrChairman
Posts: 456
Registered: ‎02-07-2010
Re: Cap 1 C/O

This is my only derog. I just figured since it was so old a score increase would be minimal.


Starting Score:TransUnion: 698 (12 FEB 2010), Equifax: 674 (12 FEB 2010)
Current Score (Lender Pulled):TransUnion: 695 (26 JUN 2013), Equifax: 636 (26 JUN 2013), Experian: 670 (26 JUN 2013)
Goal Score:All scores 700+ by Dec 2013!!

Take the FICO Fitness Challenge