topic Three part question in Rebuilding Your Credit

Three part question

Anonymous — Sun, 08 Jul 2012 20:41:32 GMT

I have a Midland paid collection. It was paid in July 2009. The HSBC charge off from that collection has a SOL date of 7 years from January 06' (Ohio). The original creditor, HSBC, should come off my report Jan 13'. Will they both fall of my report automatically with the original creditor date being Jan. 06' or will Midland stay on my CB's for 7 years from date of last activity?

My BK from Jan 03' (date of filing) should be off of my report by January 13' or quite possibly Dec 12' on it's own.

My intentions are to buy a home in December of 2012. My current home lease is expiring in December. I have much happening in January of 2013 credit report wise. I hate to upset the apple cart and start "disputing" things with the CB's and ruin my chances at a fairly competitive interest rate. My current scores are 704 TU, 676 Exp and 684 EQ. Should I somehow wait until the BK goes away? Should I start disputing or just let nature take its course?

Re: Three part question

RobertEG — Sun, 08 Jul 2012 21:24:10 GMT

Both have the same, identical CR exclusion date, based on the same DOFD on the OC account.

The CR exlcusion date for both a charge-off and collection having a DOFD of 1/2006 would be 7/2013, and not 1/2013.

A dispute would only come into play if the reported DOFD itself is inaccurate. Subsequent exclusion from your CR is the responsibility of the CRA, and is not an issue of accuracy of the reporting itself. That would be handled by way of complaint to the CRA for their violation of FCRA 605(c), and would not have basis until after the CR exclusion period has expired, and it can be shown that they are still including the CO or collection in credit reports they are issuing.

Re: Three part question

Anonymous — Sun, 08 Jul 2012 21:36:01 GMT

Thanks as usual Robert. I hoped the SOL was 7 years, period, and then it would just drop off.