topic Re: Another question in Rebuilding Your Credit

Another question

Anonymous — Sun, 24 Aug 2008 00:55:40 GMT

From what I understand negative stuff starts to fall off after seven years from "Date of Last Activity". As you can see below I do have a "Date of last activity" and a "Date of last payment" and a "Status as of " date. Which one should I be concerned with in regards of it falling off in seven years? Should I dispute this or leave it alone, it’s a repossession. How should I dispute this, what type of letter? Below is how my reports look, it's a repossession. THANKS GUYS!!

Vehicle Loan Account G M A C

Status as of Apr, 2007

Date opened Mar, 2000

Date of last activity Jul, 2002

Date of last payment Jul, 2002

Date closed Not Reported

Account number XXXXXXXX[Edited]

Loan type Lease

Credit limit Not Reported

Largest past balance Not Reported

Terms 36 Months

Account Type Installment

Account holder Individual

Scheduled payment amount Not Reported

Edited to remove personal information. Please do not share personal information the belongs to you or another person on the forums. Find more information by reading the myFICO Forums TOS. - sidewinder

Message Edited by sidewinder on 08-23-2008 07:55 PM

Re: Another question

Anonymous — Sun, 24 Aug 2008 00:57:07 GMT

What report is this from?

The CRTP goes from DOFD. EQ uses DOLA.

You will need a report directly from the CRA, not a 3rd party like TC or myFICO, to get the actual dates. Or you can call the CRA and ask for it, just make sure they know you aren't disputing.

Re: Another question

Anonymous — Sun, 24 Aug 2008 01:03:47 GMT

Thanks for the wuick response.

I got all three of my reports and scores from myFICO.

Who do you recommend I use to get all three reports from?

Should I dispute this?

Re: Another question

Anonymous — Sun, 24 Aug 2008 01:09:07 GMT

If you haven't already gotten your free annual reports in the last 12 months, I would get those. They have much more detailed information, as they are not just a "report" they are your full credit disclosures, coming directly from the CRA.

Re: Another question

Anonymous — Sun, 24 Aug 2008 01:12:20 GMT

Nope I haven't, I will get those.

Thank you

Re: Another question

Anonymous — Sun, 24 Aug 2008 03:58:26 GMT

Thanks sidewinder, they are much more detailed.

Plus the above repo has an estimated date of 1/2009 to fall off, woohoo!!! This just made my weekend.

Message Edited by John_NM on 08-23-2008 08:58 PM

Re: Another question

Anonymous — Sun, 24 Aug 2008 04:22:21 GMT

My experian report says:

Status Details:
This account is scheduled to continue on record until Apr 2009.
This item was verified and updated on Apr 2007

Does this mean it going to fall off on April 2009? I'm sure it does I just want to make sure I'm correct on this.

Thanks agian!

Re: Another question

llecs — Sun, 24 Aug 2008 05:37:19 GMT

John_NM wrote:
My experian report says:
Status Details:
This account is scheduled to continue on record until Apr 2009.
This item was verified and updated on Apr 2007

Does this mean it going to fall off on April 2009? I'm sure it does I just want to make sure I'm correct on this.

Thanks agian!

Yep. It will fall off in April. Looks like the DOFD was 4/2002. EX and TU CRs have the drop off date for all CAs and some OCs. EQ doesn't have this date and you could find info by calling them.

Re: Another question

Anonymous — Sun, 24 Aug 2008 14:42:55 GMT

Awesome....... Thank you