topic Re: CITI Charge OFF Disapepared by itself? in Rebuilding Your Credit

CITI Charge OFF Disapepared by itself?

Rocd — Sun, 24 Mar 2013 12:17:03 GMT

I went to a car delear and had my report pulled TU ffor sure. I approved by Cap 1 Auto and had

4 other inquires from other lenders but none from Citi bank I also never disputed the CO credit card account

my date of first deliqnecy on the CO citi card was may 2009. The CO was for 3800 with an orginal balance of 1800.

Card was opened in early 2007. It was Charged off in early 2011.

I was at the car dealer on friday and pull my report this morning and it's gone. Score went up about 25 points.

Can it come back by any chance?

Anybody have a clue about this?

Re: CITI Charge OFF Disapepared by itself?

DaBears — Sun, 24 Mar 2013 12:51:07 GMT

@Rocd wrote:
I went to a car delear and had my report pulled TU ffor sure. I approved by Cap 1 Auto and had
4 other inquires from other lenders but none from Citi bank I also never disputed the CO credit card account
my date of first deliqnecy on the CO citi card was may 2009. The CO was for 3800 with an orginal balance of 1800.
Card was opened in early 2007. It was Charged off in early 2011.

I was at the car dealer on friday and pull my report this morning and it's gone. Score went up about 25 points.
Can it come back by any chance?

Anybody have a clue about this?

When was the DoFD on the card?

Re: CITI Charge OFF Disapepared by itself?

Rocd — Sun, 24 Mar 2013 14:09:20 GMT

The DOFD was May 2009. I also heard that they report electronicly on fridays. The same day I went autoshopping. I

had my credit files frozen and unlocked them till 4/1 so I could get an auto loan.

Re: CITI Charge OFF Disapepared by itself?

Anonymous — Sun, 24 Mar 2013 15:27:58 GMT

It could be for a number of reasons. I would expect it to be back. But, if it's not good for you!

Re: CITI Charge OFF Disapepared by itself?

RobertEG — Sun, 24 Mar 2013 19:30:09 GMT

Probably a prudent business decion on their part to be rid of any future FCRA issues.

Once deleted from your credit report, they are free of any future possibility of a dispute over any reporting on the account.

It would indicate to me that they have sold the delinquent debt, and raises the possibility of the purchaser reporting a collection.

If you want to address that possibility, you might call the OC and ask if they have sold the debt, and if so, the name of the debt collector.

You could then send the debt collector a timely DV, barring their credit reporting until they provide debt validation.

Re: CITI Charge OFF Disapepared by itself?

sjt — Sun, 24 Mar 2013 19:51:15 GMT

@RobertEG wrote:
Probably a prudent business decion on their part to be rid of any future FCRA issues.
Once deleted from your credit report, they are free of any future possibility of a dispute over any reporting on the account.

It would indicate to me that they have sold the delinquent debt, and raises the possibility of the purchaser reporting a collection.
If you want to address that possibility, you might call the OC and ask if they have sold the debt, and if so, the name of the debt collector.
You could then send the debt collector a timely DV, barring their credit reporting until they provide debt validation.

Even if they sold the debt shouldnt it be reported as "sold or transferred account" or something like that? Also, if this was a prudent decision on Citibank's part why dont the other creditors do the same?

Re: CITI Charge OFF Disapepared by itself?

RobertEG — Sun, 24 Mar 2013 21:55:38 GMT

Their deletion served their own business needs by ridding themselves of any need to update any reporting or to use resources should a consumer dispute their current reporting. If they delete, no need to report $0 balance when sold or to investigate the accuracy of any reported information.

What is prudent for them is not, however, in the best overall interests of the credit reporting system, as it removes legitimate consumer history from access by others who pull their credit report.

Perhaps other creditors have a broader feeling of obligation not to delete accurate, relevant history.

Re: CITI Charge OFF Disapepared by itself?

Rocd — Mon, 25 Mar 2013 00:54:17 GMT

tnx everyone for the input to deletion put me at 607 TU

Re: CITI Charge OFF Disapepared by itself?

Deltadog03 — Mon, 25 Mar 2013 00:56:07 GMT

Honestly, I have had about 4 things (knock on wood) LOL come off my report on its own.

Re: CITI Charge OFF Disapepared by itself?

Rocd — Mon, 25 Mar 2013 00:58:43 GMT

@Deltadog03 wrote:
Honestly, I have had about 4 things (knock on wood) LOL come off my report on its own.

Just something you noticed one day or where you in my situation shoping around for a loan or unfreezing your report?

Re: CITI Charge OFF Disapepared by itself?

Deltadog03 — Mon, 25 Mar 2013 01:00:43 GMT

Just rebuilding/cleaning up my report. I would see a few things just come off. Some I certainly did some work with GW. Super thankful so far.