topic Re: Charge Off Hep in Rebuilding Your Credit

Charge Off Help

jazhead077 — Wed, 17 Feb 2016 15:26:51 GMT

Hello All,

I'm looking for some advise on the best method to address my cc CO. I have 3 CO showing under collections and all 3 EQ have the CA as the date assigned? The date issued is also a year later than the other two reports? Before I found this forum I started a payment plan with Potfollio Recovery (largest debit) and I'm currently making monthly payments. I have not contacted Midland and Jefferson is only showing on EQ and I honestly do not remember the OL. All these accounts have been inactive since 2007.

I have been employed for that last 13 months and my CS are up about 80 points. EQ 630 TU 628 EX 638. I would like to buy a car this spring and would like to get my score up to 680.

Any suggestions on what steps I should take to address these accounts? How do I verify the credit reporting timing limit date?

1. Midland - EQ Feb 2012 TU Dec 2011 EX Dec 2011

2. Porfolio Recovery - EQ 3/2014 TU 12/2013 EX 12/2013 (making monthly payments)

3. Jefferson Capitol - EQ - 2010 TU - XXXX EX - XXXX (EX & TU are not reporting)

Thanks in advance,

Re: Charge Off Hep

RobertEG — Tue, 16 Feb 2016 01:22:43 GMT

You need to obtain the date of first delinquency on the OC account that was reported by the debt collector to the CRA.

Credit report exclusion of a collection is based ONLY on the DOFD, and is not affected by any payment or non-payment of the debt.

If the commerical credit report you have obtained does not show the DOFD, then look at your free annual report from annualcreditreoort.com.

Reports from that site will usually show the DOFD.

Re: Charge Off Hep

Anonymous — Tue, 16 Feb 2016 02:53:04 GMT

I had to go back to a previous year's report (I have archived a few years) to see the original date on my Midland collection, because the original creditor had already stopped reporting it. I found there's still another year or so of Midland reporting it, and there is almost NO USE trying to talk to Midland, in my experience. So I'm living with it. My last collection is almost gone. I qualify for stuff despite it.

Re: Charge Off Hep

jazhead077 — Tue, 16 Feb 2016 03:00:22 GMT

Thanks for the response! Correction to my original post. These three accounts are "Closed Accounts" on my reports. I have 2 CO which are both paid off.

DOFD:

Midland: 9/2009

Jefferson: 7/2009

Portfolio: 10/2010

Thanks again!

Re: Charge Off Hep

RobertEG — Tue, 16 Feb 2016 06:31:00 GMT

Any charge off or collection must become excluded no later than 7 years plus 180 days after the DoFD.

The CRA will routinely exclude at approx 7 years from DoFD.

If you wish them deletied earlier, then you will have to request a GW deletion from the furnisher.

Re: Charge Off Hep

jazhead077 — Wed, 17 Feb 2016 15:38:03 GMT

Thanks for the replies. I will monitor my scores and see if my credit score continues to increase with my credit card activity. If not I wll begin the GW process. I believe my auto enhanced EQ need to increase by 30 points for my auto loan in May.

Re: Charge Off Hep

Anonymous — Thu, 18 Feb 2016 03:00:52 GMT

I live in NY and it's 5 years not the 7 years plus 180 days. Check the laws in your state.