topic Re: When will this charge off fall off!!! in General Credit Topics

When will this charge off fall off!!!

laurenjarrod — Sun, 09 Feb 2020 01:25:12 GMT

Hi Everyone,

Can anyone tell me when this will fall off my credit report? I was going to try and negotiate a PFD but I'm wondering how much time is left before it fell off and if exploring that route was even worth it if it was going ot be soon. This is a Capital One auto loan from my ex ( eye roll). This is still reporting as negative right? Ccan that still be after all this time?! Ugh...I'm guessing it was 2014 sometime the car was repossessed. Below is what is from my credit report.

June 2013 30 days, July 30 days, Aug 60 days, Sept 60 days,Oct-Dec "N" . Jan 2014 30 days, Feb 60 days, March 90 days, April-Dec is reported as "N", 2015-2019 every month has an "N" under it.

Account opened Oct 1, 2010, Charge-off, Updated onJu l 1, 2014, Past due amount$16,033, Original loan amount-$21,139

You've made 92% of your payments on time for this account.

Re: When will this charge off fall off!!!

thornback — Sun, 09 Feb 2020 17:20:43 GMT

@laurenjarrod wrote:

June 2013 30 days, July 30 days, Aug 60 days, Sept 60 days,Oct-Dec "N" . Jan 2014 30 days, Feb 60 days, March 90 days, April-Dec is reported as "N", 2015-2019 every month has an "N" under it.

Well... looks like the DOFD may be Jan 2014 - which means it'll drop in Jan 2021. According to what you've posted, the original DOFD was June 2013 -- but it appears payments may have been made to bring it current sometime between Oct-Nov. 2013 -- then it went delinquent again with a new 30 Day late in Jan. 2014.

The DOFD is the month/year the account first went delinquent and was never brought current; it determines the 7 year statute for an account to be excluded from your reports. Had the account not been brought current after Sept. 2013, the account would fall off Jun. 2020.

You should still pull your reports from annualcreditreport.com just to confirm as they are more comprehensive than the those pulled by other commerical sources and will provide the DOFD/Expected Date of Removal. It's free to pull once per year (twice in some states).

Re: When will this charge off fall off!!!

AllZero — Sun, 09 Feb 2020 01:40:13 GMT

If account was never made current, assuming the DoFD is Jan 2014. It would be 7 years from DoFD.

When was the last payment made on the account?

Re: When will this charge off fall off!!!

AllZero — Sun, 09 Feb 2020 01:41:15 GMT

@thornback wrote:
is typing...

Re: When will this charge off fall off!!!

laurenjarrod — Sun, 09 Feb 2020 16:32:01 GMT

Thank you. I will go to that site and pull my credit reports there and see what the date is. I can't wait for this to come off!

Re: When will this charge off fall off!!!

laurenjarrod — Sun, 09 Feb 2020 16:33:34 GMT

I honestly have no idea. The car was used by my ex, who was supposed to also be making the payments ( learned my lesson!).

Re: When will this charge off fall off!!!

thornback — Sun, 09 Feb 2020 17:10:47 GMT

@laurenjarrod wrote:
I honestly have no idea. The car was used by my ex, who was supposed to also be making the payments ( learned my lesson!).

Been there, done that. Never again. Some of us have to learn the hard way

It's funny because my parents would always say they'd never cosign for anyone... not even their own children - and I understood why, in theory, but still thought they were being a bit over-dramatic. So of course, I ignored their best advice and did everything they warned not to do... and learned (the hard way) that they were/are always 100% correct.

Re: When will this charge off fall off!!!

laurenjarrod — Sun, 09 Feb 2020 17:15:34 GMT

Just checked the credit report site you recommended...It says "on record until March 2020"

Re: When will this charge off fall off!!!

thornback — Sun, 09 Feb 2020 17:26:13 GMT

@laurenjarrod wrote:
Just checked the credit report site you recommended...It says "on record until March 2020"

Well that's fantastic. Seems they are using Jun 2013 as the DOFD. I assume that's on Experian? Experian automatically sets accounts to be excluded 3 months early. The other two bureaus should show Jun 2020 as the removal date (or just list the DOFD as June 2013).

If your Transunion report shows a DOFD of Jun 2013, you can request an Early Exclusion to have it removed now. Transunion will remove up to 6 months early upon request. You can either call and request to speak with a supervisor to ask for removal, or you can file a dispute. If you file a dispute, do it through Credit Karma and select the "too old to be reported" dispute reason -- this type of dispute usually gets resolved within a couple of days (most report deletion within 24 hours).

Equifax will delete 1 month early upon request -- but they are so difficult it's usually not even worth the effort.

Re: When will this charge off fall off!!!

laurenjarrod — Sun, 09 Feb 2020 17:43:06 GMT

Yes, that was with Experian.

It's not listed an my TU. And I accidently closed out of the site prior to viewing my Equifax ( blonde moment!). I emailed them to see if they can give me access...otherwise I'll have to pay.

I'll see if I can request an early exclusion!

Re: When will this charge off fall off!!!

AllZero — Sun, 09 Feb 2020 19:42:09 GMT

Good luck with your EE. You should see a nice score bump with the last derogatory gone.

Re: When will this charge off fall off!!!

Anonymous — Wed, 12 Feb 2020 13:36:17 GMT

@thornback wrote:
@laurenjarrod wrote:
Just checked the credit report site you recommended...It says "on record until March 2020"
Well that's fantastic. Seems they are using Jun 2013 as the DOFD. I assume that's on Experian? Experian automatically sets accounts to be excluded 3 months early. The other two bureaus should show Jun 2020 as the removal date (or just list the DOFD as June 2013).

My Experian is still showing my charge-off account even though Transunion and Equifax have already removed it from my credit report.