topic Re: Multiple same OC's?! in Rebuilding Your Credit

Multiple same OC's?!

Anonymous — Wed, 06 Mar 2013 22:22:28 GMT

Hello all!

My first post so I just wanted to introduce myself and greet you fine bunch of people!!

Ok on to the nitty gritty.

I'm on the path of repairing my credit and I'm serioiusly trying to tackle my collections/charge offs. Interestingly enough, my fako reports show more collections and such then my Fico score. Should I be concerned for what ISN'T showing on the Fico but what is showing on the Fako reports?

Also in my credit report from Fico I have two OC's that are the same company!! Its a gas company that I didn't realize reported to the bureau so I paid when I can. Well years later I got my budget in order and I started to pay on time all the time and noticed it there!

Is this normal?

Furthermore, I still have the account open now but they seem to stop reporting in 2010. Why is that you think?

My inital thought was because of some error I saw on my bill my last name was mispelled and maybe thats why it wasn't reported. If that's true, I'd like to see my payment history before I push for them to report the history.. should help but never know.

What can I do about this situation?

I'm a credit recovering newbie, but I've read quite a bit on here so just bare with me please! Thanks guys for any help!!

Re: Multiple same OC's?!

Anonymous — Wed, 06 Mar 2013 22:33:27 GMT

@Anonymous wrote:
Hello all!
My first post so I just wanted to introduce myself and greet you fine bunch of people!!

Ok on to the nitty gritty.

I'm on the path of repairing my credit and I'm serioiusly trying to tackle my collections/charge offs. Interestingly enough, my fako reports show more collections and such then my Fico score. Should I be concerned for what ISN'T showing on the Fico but what is showing on the Fako reports?

Also in my credit report from Fico I have two OC's that are the same company!! Its a gas company that I didn't realize reported to the bureau so I paid when I can. Well years later I got my budget in order and I started to pay on time all the time and noticed it there!

Is this normal?

Furthermore, I still have the account open now but they seem to stop reporting in 2010. Why is that you think?

My inital thought was because of some error I saw on my bill my last name was mispelled and maybe thats why it wasn't reported. If that's true, I'd like to see my payment history before I push for them to report the history.. should help but never know.

What can I do about this situation?

I'm a credit recovering newbie, but I've read quite a bit on here so just bare with me please! Thanks guys for any help!!

The term "FAKO" only applies to credit scores when they are not FICO scores. The term does not apply to credit reports. Your credit reports are, for the most part, constructed, supplied and maintained by three bureaus: Equifax, Experian and Transunion. You most likely are reviewing your EQ or TU report here, while you are reviewing one of the others elsewhere. Where exactly are you getting the reports from? To get the most accurate picture, you should pull all three of your reports from annualcreditreport.com.

Also, the same account can be reported multiple times as it is passed to or between CA's.

Most utilities don't report to the CRA's. If you got behind on payments and the account was sent to collections, that is most likely what is reporting. We'll need more information to be sure.

P.S. - Welcome!

Re: Multiple same OC's?!

Anonymous — Wed, 06 Mar 2013 22:53:41 GMT

First off thank you for a quick response! Wow!!

FAKO is for score not reports though... got you!

I pulled from AnnualCreditReport.com and MyFico.com

Which information do you need I'd love to have my questions answered. Or do I need to contact the utility company and perhaps inquire with them?

If I may also ask a second question as well... I live in PA, but I used to live in CA. Now I have a collection on my account that is from CA and the SOL for CA is 4 years. Now the PA SOL is 6 years. According to reports from annualcreditreport.com DoFD is 7/2006. isn't the SOL up for both states? If so what is the process to remove this from the report?

Again, forgive my newbieness... Thank you guys!

Re: Multiple same OC's?!

Anonymous — Wed, 06 Mar 2013 22:55:00 GMT

@Anonymous wrote:
First off thank you for a quick response! Wow!!

FAKO is for score not reports though... got you!

I pulled from AnnualCreditReport.com and MyFico.com

Which information do you need I'd love to have my questions answered. Or do I need to contact the utility company and perhaps inquire with them?

Can you just copy and paste the accounts that are reporting from the utility company? Feel free to exempt any sensitive information that might be showing.

The website you got the reports from is unimportant; they are like middle-men. What is important is which bureau each report came from, and which accounts are being reported with which bureau. You should have three reports from annualcreditreport, one from each bureau. You will most likely have one from myFICO, either EQ or TU. You need to figure out which bureau you're looking at on myFICO and compare it with the same bureau's report from annualcreditreport. They should be essentially the same.

Re: Multiple same OC's?!

Anonymous — Wed, 06 Mar 2013 23:11:30 GMT

I hope this will suffice, I'm not sure how to add pics into the post quite yet

Re: Multiple same OC's?!

Anonymous — Wed, 06 Mar 2013 23:22:21 GMT

Utility companies do not report to the CRAs unless you are late. From what you posted you opened service with them in 2006 and again in 2008.

Since they are paid you can send a GW to the OC and ask for them to delete the TLs.

Re: Multiple same OC's?!

Anonymous — Wed, 06 Mar 2013 23:23:36 GMT

@Anonymous wrote:

I hope this will suffice, I'm not sure how to add pics into the post quite yet

You have two accounts reporting because one of them is closed. Look at the status on the second one. It's still reporting because there is late payment information associated with it. Each late payment will fall off your credit report around 7.5 years from the date it happened. After all the lates fall off, being that there's no other payment information associated with the account, I'm not sure if it would report as current or if it would fall off completely. Someone else will have to chime in on that one.

Re: Multiple same OC's?!

Anonymous — Wed, 06 Mar 2013 23:24:35 GMT

@Anonymous wrote:
Utility companies do not report to the CRAs unless you are late. From what you posted you opened service with them in 2006 and again in 2008.

Since they are paid you can send a GW to the OC and ask for them to delete the TLs.

Re: Multiple same OC's?!

Kixforpa — Wed, 06 Mar 2013 23:30:13 GMT

I also live now in PA! I am originally from Miami, Florida. Same thing SOL is 5 FL and PA 6. I was told to go by where your loan originated. Is this correct?

Re: Multiple same OC's?!

Anonymous — Wed, 06 Mar 2013 23:42:13 GMT

SOL goes by where you currently reside.

Re: Multiple same OC's?!

DaBears — Wed, 06 Mar 2013 23:44:25 GMT

Lates fall off after 7 yrs from the date of occurance. Onces it falls off the account becomes a positive TL and will remain on your CR for a total of 10 yrs from the date closed.

Re: Multiple same OC's?!

Anonymous — Thu, 07 Mar 2013 02:52:08 GMT

Thank you guys for so much help and ideas wow never thought of GW letter, might work might not but gives an option!

Now from what I read from the other post SOL is from current residence? How about this...?

http://i748.photobucket.com/albums/xx129/pimpedoutgeese/fico1.png

This is the charge off I was talking about. I seen the DoFD and was wondering based on the SOL of a post I seen here, a sticky about SOL on bankrate.com, PA is 6 years. Do you think its possible to remove this? Shouldnt it have fallen off on its own? Whats the way to go about removing this from my history if possible?

Again, Thanks in advance for your time and generousity. So appreciate the knowledge you share.

Re: Multiple same OC's?!

Anonymous — Thu, 07 Mar 2013 02:59:02 GMT

DoFD of 07/2006 would have a mandatory exclusion date of Jan 2014. It is 7.5 years from the DoFD.

SOL for suing is determined by the states and starts at the DoFD also. In your case your state SOL would have expired July 2012 so they cannot bring suit and win if you use expired SOL as an affirmative defense.

Re: Multiple same OC's?!

Anonymous — Thu, 07 Mar 2013 03:06:06 GMT

Ok wait a minute, I just want to make sure I get this in my head...

So SOL is basically used only court, the SOL of being sued. DoFD is when the 7.5 years begin and when the collection/charge off falls off your credit report, correct?

I have to say I am truly amazed with this forum, any other forum you'd be waiting atleast a day. Again, thank you...

Re: Multiple same OC's?!

Anonymous — Thu, 07 Mar 2013 03:09:41 GMT

By George, I think he got it! Yes, you are correct!

ETA: I hope you are a he. If not I apologize.

Re: Multiple same OC's?!

Anonymous — Thu, 07 Mar 2013 03:11:06 GMT

Thank you, Thank you....

And yes.. I am a man

Re: Multiple same OC's?!

Anonymous — Thu, 07 Mar 2013 03:12:18 GMT

Most think I am, not sure why.

Re: Multiple same OC's?!

Anonymous — Thu, 07 Mar 2013 08:20:33 GMT

@Anonymous wrote:
Most think I am, not sure why.

You're...a woman?

For some reason, the name guiness makes me think of the beer, which makes me think of a guy wearing a greasy tank top getting drunk at his computer desk. A bit of a colorful interpretation of a simple word, I know.

Re: Multiple same OC's?!

Anonymous — Thu, 07 Mar 2013 13:04:42 GMT

Ok guys... and gals?? how about this one... I want to know if there's any forum posts that help me read my report. I might not understand what is all on that and I was curious. Sometimes it is confusing for me and I get overwhelmed.

But from what I can tell....

The accounts sections (installments loans, credit cards, mortgages, etc..) is usually where the OC is right?

Now from reading around here once the OC is on there, they are on there right? Also if the OC sells the debt, the OC is still on the report AND also a corresponding CA?

I'm trying to devise a plan of attack on my credit (sounds awful) and I wanted to get a better picture of things so I can get a better way to go about doing this. Do I DV OC's? I was thinking of DV EVERYTHING in the report (not the positive accounts) including OC's and CA's is that right? Or do I just DV the CA's?

Ok I'm going to assume I DON'T DV the OC's can I still PFD with them? If not can I GW them? Not sure about my options with OC's. I know I DV CA's and then PFD them. I'm just so impatient lol I want to start the process now but I must get educated first haha don't want to make mistakes!

Re: Multiple same OC's?!

Anonymous — Thu, 07 Mar 2013 13:33:49 GMT

Yes, you dont DV the OC's , however, you can certainly go the PFD route with them.

certainly you can DV all the CA's and see what happens, some might even remove the TL with just this letter. Then the ones that verify you can PFD them next.