topic A victory, and how to continue? in Rebuilding Your Credit

A victory, and how to continue?

Anonymous — Mon, 22 Aug 2016 16:51:54 GMT

I would like to say thank you so much to everyone on the forums. A while back I was going to clean up my credit, yet it seemed so difficult at the time. The information I have found here has been an enormous amount of help. The journals and other success stories has been just as much help as the information due to motivation it's given me to get the process started. about 10 days ago I contacted First Premier by email in regards to an account that was showing on my credit reports with different information for all 3 reports. I received a response the same day asking me for my current mailing address. I have since heard nothing back. On the same day, I also filed a complaint with the BBB basically using the same email that I sent direct to First premier, including screenshots of the item on my CRs. Today, I recieved a response that reads

Upon review of the specific information you provided, we requested that the account be deleted from the consumer reporting agencies. Please allow approximately 30 days for the update.
We apologize for any inconvenience you experienced.
If you have any further questions, please contact our Customer Service

Now, to continue on this journey to good credit, I have this judgement hanging over my head and would like to know the best course of action to take, if any at all at this moment. It will be 7 years from the date of judgement in October. This judgement stems from an auto loan. I ended up defaulting on the loan and they got a judgement on the balance. I was never served papers for the court date as I was nowhere near the city for quite a few months once I defaulted. This judgement is on my credit, but the original debt(which last payment was over 8 years ago) is still on my credit. the current status says “pays as agreed” and the activity description says “transfer/sold”. Should I try and get this removed due to its old age? Will it hurt my credit if I do? Although it says “transfer/sold” its status does say “pay as agreed” Also, as far as the judgement, how easy would it be to get this judgement vacated since I was never properly served? I never even knew that they had taken me to court until I seen the judgement on my credit report.

Re: A victory, and how to continue?

RobertEG — Mon, 22 Aug 2016 18:51:30 GMT

As for the account with the original creditor, stating that the debt is over 8 years old is not adequate to determine what should now be excluded from your credit report.

What derogs were reported by the OC, and what are their dates?

Most significantly, if a charge off was reported, what is the DOFD that was reported?

As for challenging the judgment based on lack of service, most jurisidctions provide for service by means other than personal delivery once such delivery has been attempted and was unsuccessful. Whether or not proper notice was given depends upon the laws of your jurisdiction and the manner in which the court record shows service of notice.

I would begin by either reviewing the record yourself or hiring an attorney to reveiw for compliance with the provisions of your state code.

Re: A victory, and how to continue?

Anonymous — Mon, 22 Aug 2016 19:12:02 GMT

I was under the assumption that things could be removed after 7 years of last activity.

The original creditor has nothing posted on Transunion.

For Experian

Status: Transferred,closed/Never late

Comment: Account Transferred to another lender

On record until: April 2019

Account history shows "ok" for every month with the exception of the final month of April 2009 it shows "CLS"

Equifax

Current Status: Pays As Agreed

Date of Last Payment: 12/2008

Date of Last activity: 12/2008

Balance: $0

Activity Description: Transfer/Sold

Date of First Deliquency: N/A

side not. how do I properly quote a post with user name and everything? I don't see any quote options.

Re: A victory, and how to continue?

RobertEG — Mon, 22 Aug 2016 19:17:30 GMT

The FCRA provides for exclusion of derogatory information from your credit report at various times, usually 7 years from their dates of occurrence or first delinquency. FCRA 605(a) details the derogs and their exclusion periods.

The account referenced in the post no longer includes the reporting of any derogs. They have either already been excluded or have been voluntarily deleted by the creditor. There are thus no derogs that are currently affecting your scoring. The age of the account continues to be included in your length of credit history scoring, such as your AAoA scoring.

An account that shows no derogs and is closed does not become excluded or deleted based on any provision of statute. The CRAs have an internal policy of deleting accounts that have been closed for approx ten years. That appears to be what is referenced in your credit report.

The statement that the account will remain until April 2019 is thus based on the date closed of April 2009, and not any exclusion provision of the FCRA.

Re: A victory, and how to continue?

Anonymous — Mon, 22 Aug 2016 19:19:41 GMT

Makes sense, I appreciate the info. I was clearly confused.