topic Re: after 7 years in General Credit Topics

after 7 years

Anonymous — Wed, 16 Jan 2008 00:47:33 GMT

I have a account that is a collection that will be seven years old in April. Will it automatically drop off or do I need to request it to come off in writing? Also is the seven years from the date you opened the account or the date of the last activity.

Message Edited by lindsnh on 01-15-2008 04:47 PM

Re: after 7 years

Junejer — Wed, 16 Jan 2008 01:04:11 GMT

Either DOLA or DOFD

Re: after 7 years(anybody there???)

Anonymous — Wed, 16 Jan 2008 01:04:19 GMT

anybody wanna answer please??

Re: after 7 years

Anonymous — Wed, 16 Jan 2008 01:05:07 GMT

@Junejer wrote:
Either DOLA or DOFD

Im sorry I do not know what that means

Re: after 7 years

Junejer — Wed, 16 Jan 2008 02:15:24 GMT

DOLA = Date of Last Activity DOFD = Date of First Delinquency. They can be found on your CRs.

If you haven't already you should read credit scoring 101 and print out the list of abbreviations. Trust me, it will make you life easier on these threads.

Re: after 7 years

Anonymous — Wed, 16 Jan 2008 03:02:34 GMT

ByrdMan, I am curious. Why do you think there is such a wide spread in your FICO scores? There was only 17 points difference between my highest and my lowest the first time I got my scores. Is there that much difference in what information each agency is seeing or how they grade?

Re: after 7 years

Junejer — Wed, 16 Jan 2008 03:20:25 GMT

Long and short is that I was probably within a small range when I took my head out of the sand and started cleaning up my credit. Lots of erroneous and obsolete data on my reports. EQ and to a lesser extent EX has seen this and have investigated. TU, besides not investigating (I don't think at all) also reports a utility bill with lots and lots of lates.

You can read all of the sordid details on the following thread. You now know my life story http://ficoforums.myfico.com/fico/board/message?board.id=generalcredit&message.id=63574#M63574

Re: after 7 years

Anonymous — Wed, 16 Jan 2008 03:44:33 GMT

I think a few folks are trying to beat old raps. I think some newer folks are just plain scared but mostly I see a bunch of folks whos light has come on. I have a lot of things I like to do/hobbies. Why not try to enjoy watching these comebacks and watching other mindful folks come back out of the red. What a ride!

Re: after 7 years

Junejer — Wed, 16 Jan 2008 04:58:42 GMT

That's true beenthere. The light is on and I won't stop until I reach my goal. I never used to think about my credit (see my future thread), but now I have some work to do to get back into home ownership (in about two weeks or so). It is so motivating to watch everyone come back from the abyss.

Re: after 7 years

Anonymous — Wed, 16 Jan 2008 15:49:37 GMT

Hi lindsnh. this thread is full of info. it is the newbie thread. It has all the abbrevs that we use and the freq.requested thread

http://ficoforums.myfico.com/fico/board/message?board.id=generalcredit&thread.id=38534

Know what you are doing before you start. That way you will not run into trouble.

Know your SOL

http://www.bankrate.com/brm/news/cc/20040116b2.asp?caret=8

CRTO v SOL

http://ficoforums.myfico.com/fico/board/message?board.id=generalcredit&thread.id=17466

Ask as many questions as you need

Re: after 7 years

octavia — Wed, 16 Jan 2008 16:04:47 GMT

DOFD determines when a collection account will drop. But once you pass the 7 year mark you can dispute as the account is too old/obsolete with the CBRs and see what happens. It couldn't hurt.

Octavia.