topic Confused about deletion dates ... in Rebuilding Your Credit

Confused about deletion dates ...

elmolina74 — Thu, 01 Apr 2010 17:01:49 GMT

Hello all and thanks in advance for your responses

As many of you here I'm trying to rebuild my credit after a horrible divorce which MUDERED my credit, yikes!

Anyway I have this department store charge crad which currently shows the following: Status: 03/04, Last Activity: 08/03, 120 days late as of 02/04 ... My questions is when will this negative item be removed from my report? which is the day that's taking into consideration?? the last activity date??? Or when the account became 120 days late????.

Thanks again!!!

Re: Confused about deletion dates ...

LIGHTNIN — Thu, 01 Apr 2010 18:20:36 GMT

Hi elmolina74,

Welcome to the forums, CO and CA drop off 7 1/2yrs from the DOFD.

DOFD is the 1st 30day late, and the account was never current again.So your DOFD would be 11/03.

So if you add 7 1/2years, would mean it drops off your CR about 5/11.

If you get your CR's directly from the CRA's, TU and EX will have the drop off dates on them.

Also the CR's from annualcreditreport.com, come directly from the CRA;s

Re: Confused about deletion dates ...

JoeBJay20 — Thu, 01 Apr 2010 18:21:55 GMT

Welcome to the Forums!

The deletion date is based on the date of first delinquency (DOFD), which is the date in which you first became delinquent and never again regained paid as agreed status. The fall off date is 7-7.5 years after this date. In order to find this date, you must obtain your reports directly from the credit bureaus. Pull your free annual reports at annualcreditreport.com if you have not done so already. Equifax lists the DOFD, Experian and Transunion list the fall off date.

Re: Confused about deletion dates ...

elmolina74 — Thu, 01 Apr 2010 18:37:38 GMT

Thank you so much for your responses!!

I did pull all three reports, however two don't show the drop off date (hence my confusion) and interestingly enough TU doesn't list the account ...

Re: Confused about deletion dates ...

fused — Thu, 01 Apr 2010 18:44:47 GMT

@elmolina74 wrote:

Thank you so much for your responses!!

I did pull all three reports, however two don't show the drop off date (hence my confusion) and interestingly enough TU doesn't list the account ...

So, I assume this account never charged-off?

Re: Confused about deletion dates ...

elmolina74 — Thu, 01 Apr 2010 18:53:39 GMT

Equifax has it listed as "account closed by credit grantor" and Experian as " Credit line closed-grantor request-reported by subscriber"... Does this make a difference??

Re: Confused about deletion dates ...

fused — Thu, 01 Apr 2010 19:02:19 GMT

@elmolina74 wrote:

Equifax has it listed as "account closed by credit grantor" and Experian as " Credit line closed-grantor request-reported by subscriber"... Does this make a difference??

Those notations have no affect on your FICO scores. Do you see anything that says charged-off?

Re: Confused about deletion dates ...

elmolina74 — Thu, 01 Apr 2010 19:18:26 GMT

Nope just double checked again and nothing about a charge off and/or collections, simply listed as closed.

I do have listed a BIG charge off for a master card account that belonged to my ex and where I was an authorized user. I didn't even use the stupid card and now is showing on my equifax report and bringing my score down I guess

Shortly after my divorce my score was 503 and I have managed to raise it to 648 (not the greatest I know) but when I discovered this MC charged off is being listed on my report I was very disappointed.

Re: Confused about deletion dates ...

fused — Thu, 01 Apr 2010 19:26:12 GMT

The 120-day-late will stay on your reports for seven years, so it should fall off early next year. Which report is this info coming from?

Re: Confused about deletion dates ...

elmolina74 — Thu, 01 Apr 2010 19:29:13 GMT

The 120 day late (store charge card) from both Equifax & Experian.

The master card charge off only from Exquifax.

Thanks!

Re: Confused about deletion dates ...

fused — Thu, 01 Apr 2010 19:33:04 GMT

As for the MC AU account, you are not responsible for it. I would call the credit card company and have them delete it from your reports.

Re: Confused about deletion dates ...

elmolina74 — Thu, 01 Apr 2010 19:54:31 GMT

Will do, thanks for the advise!

Re: Confused about deletion dates ...

fused — Thu, 01 Apr 2010 20:00:24 GMT

@elmolina74 wrote:

Will do, thanks for the advise!

Hold on a second! I forgot to ask you how old this AU account is. When was the account originally opened? When was the date of first delinquency? Is it your oldest account?

Re: Confused about deletion dates ...

elmolina74 — Thu, 01 Apr 2010 20:09:06 GMT

MC AU is showing as follows:

Opened 10/95

Last Acivity Date: 01/05

Last payment made is being reported as 12/04

Re: Confused about deletion dates ...

fused — Thu, 01 Apr 2010 20:13:53 GMT

Do you have any other revolving accounts opened before 1995 that are reporting in good standing?

Re: Confused about deletion dates ...

elmolina74 — Thu, 01 Apr 2010 20:26:32 GMT

Four cards in total (two visa's and two store cards) opened in 1995, two were closed & paid by me in 2000 so they are listed as closed/paid. The other two were closed by the credit grantors but were also paid in full so they are listed as closed/paid.

Is this helping me at all?

Re: Confused about deletion dates ...

fused — Thu, 01 Apr 2010 20:37:43 GMT

Closed accounts in good standing (no lates) always help you until they fall off of your reports. Most of the time a closed account will come off of your reports about ten years after it was closed. It sounds like a couple of your closed accounts might fall off of your reports this year. Its hard to say if removing this AU will help you much. Its an old account which helps your history, but its also an unpaid CO. Has the credit card company been trying to collect on this CO? Have you looked on your reports for the "date of first delinquency" or "drop off date" for this CO?

Re: Confused about deletion dates ...

elmolina74 — Fri, 02 Apr 2010 16:15:06 GMT

I'm sure the CC is trying to get their $$ back ... As far as the last payment for the card it's being reported as 01/05. so I guees it will come off in 2012 ... But I will attempt to get my name removed as you suggested.

Thank you very much for your help!

Re: Confused about deletion dates ...

fused — Fri, 02 Apr 2010 18:54:47 GMT

No problem! Let us know what happens.