topic Re: Help With Different Drop Off Dates in Rebuilding Your Credit

Help With Different Drop Off Dates

Anonymous — Thu, 14 May 2009 23:18:34 GMT

I have a charge off from WAMU from 2002. (Disputed but I'm done with their BS verification--this was my boyfriend's line of credit and I was an authorized signer not a co-obligor). The first default is shown as 2/2002 then payments are shown to have been made made 5/02-8/02, and then final delinquency before eventual charge off was 9/02. Experian and TransUnion have it scheduled to be removed 7/09 but equifax has the drop off date as 9/02. Am trying to get a mortgage soon and it would be wonderful if I could have equifax drop it off in 7/09. Any advice would be greatly appreciated!

Re: Help With Different Drop Off Dates

nothingman02 — Fri, 15 May 2009 02:39:11 GMT

@Anonymous wrote:
I have a charge off from WAMU from 2002. (Disputed but I'm done with their BS verification--this was my boyfriend's line of credit and I was an authorized signer not a co-obligor). The first default is shown as 2/2002 then payments are shown to have been made made 5/02-8/02, and then final delinquency before eventual charge off was 9/02. Experian and TransUnion have it scheduled to be removed 7/09 but equifax has the drop off date as 9/02. Am trying to get a mortgage soon and it would be wonderful if I could have equifax drop it off in 7/09. Any advice would be greatly appreciated!

Could you verify the EQ drop off date?

Your DOFD is 9/02. CRTP is another 7.5 years from then onwards although the CRAs could remove the listing earlier. But not later.

Re: Help With Different Drop Off Dates

Anonymous — Fri, 15 May 2009 02:57:41 GMT

Thanks for the reply. Sorry for the mistake, Equifax has the drop off date as 9/09. Was hoping I could somehow use the two earlier dates of 7/09 to get Equifax to drop it off early.

Re: Help With Different Drop Off Dates

nothingman02 — Fri, 15 May 2009 03:01:59 GMT

Im afraid, 09/09 is still fine as you would have figured it out.

Re: Help With Different Drop Off Dates

nothingman02 — Fri, 15 May 2009 03:06:20 GMT

On the other hand, is it a paid CO? If unpaid is somebody collecting on it? This OC TL is probably helping you with Age (if older than your AAoA) and some payment history.

Even though you are only an AU, considering the a/c standing, im not sure if the OC would agree to delete it. But you could try talking to the OC about this a/c being not yours and that you were never using it or were responsible for it and that you would like it off of your CBRs. Worth a shot.

Re: Help With Different Drop Off Dates

RobertEG — Fri, 15 May 2009 03:12:11 GMT

The DOFD would apparently be 2/2002, not 9/2202.

DOFD is the date of first delinquency in the last chain of account delinquencies, not the last.

Having been charged off, this adds 6 months to the drop off date. So the drop off date would appear to be 8/2009.

Re: Help With Different Drop Off Dates

Anonymous — Fri, 15 May 2009 03:12:53 GMT

If it's a charge off with Wamu and wasn't sold to anyone else you should be able to have yourself removed from the account so that it does not report on your CR - of course, like Nothinman said, you need to check that the age of it is not more of a positive than the old late c/o is a negative.

Re: Help With Different Drop Off Dates

Anonymous — Fri, 15 May 2009 03:39:04 GMT

Thanks everyone for your replies, not sure how to reply to all at once. Wamu still holds the account, never sold it and no one has attempted ever to collect on it. My dispute is that I was an AU not a Co-obligor but that's what they insist I was. They were never able to provide me with any written documents showing I signed anything on this account--as it was with Great Western Bank before WAMU took them over. Despite this, and even after hiring a lawyer, they refused to take it off. Soon, however, my nightmare will be over...just how soon is the big question. I never heard of the "first in the chain of delinquencies" but that is exactly what I was hoping for. So if I understand correctly, if there were payments made for three months between the first and last delinquencies, they should go by the first delinquency in that chain?

Re: Help With Different Drop Off Dates

nothingman02 — Fri, 15 May 2009 03:53:06 GMT

@RobertEG wrote:
The DOFD would apparently be 2/2002, not 9/2202.
DOFD is the date of first delinquency in the last chain of account delinquencies, not the last.
Having been charged off, this adds 6 months to the drop off date. So the drop off date would appear to be 8/2009.

2/2002 was a delinquency alright. but the a/c was still in good standing and some more payments were made from month 5 to month 8. After month 8, the first delinquency was month 9 and after that, there were no more payments made and the a/c was never caught up and it was subsequently COed. There were a new set of delinqeuncies prior to CO the first of which was month 9. So the DOFD is 9/2002.

Re: Help With Different Drop Off Dates

Anonymous — Fri, 15 May 2009 03:58:26 GMT

Okay, I got it, t hanks again everyone! Any chance they will drop it because it's been over 7 years --they don't have to wait the 180 days do they?

Re: Help With Different Drop Off Dates

nothingman02 — Fri, 15 May 2009 03:59:32 GMT

@Anonymous wrote:
Thanks everyone for your replies, not sure how to reply to all at once. Wamu still holds the account, never sold it and no one has attempted ever to collect on it.

Whats the balance being reported?

Soon, however, my nightmare will be over...just how soon is the big question. I never heard of the "first in the chain of delinquencies" but that is exactly what I was hoping for. So if I understand correctly, if there were payments made for three months between the first and last delinquencies, they should go by the first delinquency in that chain?

@Anonymous delinquency in the chain after which there were no more payments made and the a/c was consequently charged off as a bad debt. For CRTP or the drop off date, add 180 days to 7 years. Since your EQ date is earlier than that @ 9/09, thats when the a/c is scheduled to fall off.

Re: Help With Different Drop Off Dates

Anonymous — Fri, 15 May 2009 04:24:12 GMT

It's a whopping balance of $10,000 --thank you ex-beau! Do you think it would be worth it to try to dispute it 30 days before the scheduled drop off date--might they delete it because it would be dropping off withing the 30 days they have to verify it--or is that the lamest question ever posted on this forum!

Re: Help With Different Drop Off Dates

nothingman02 — Fri, 15 May 2009 04:36:06 GMT

Well, I would just sit tight and not mess with it till it falls off on its own. I would dispute it in 10/09 if its still there.

Whew! Thats a huge balance for them to have simple ignored. Hope your ex pays some of it though.

Meanwhile, keep your eyes on your reports and this particular account. Theres still time. If and when the balance changes to 0, it would mean that the a/c has been charged off and they sold the debt to some JDB. SOL is past but those JDBs could still give it a shot and you would have to use the SOL expiration as your defense. Keep all the hard copies of your CBRs. Good luck!

Just wondering, is CHASE reporting anything that you might think its not yours? Chase has bought WAMU and I am guessing that they are reporting on your ex-beau's CBRs and something is probably going on over there.

Re: Help With Different Drop Off Dates

RobertEG — Fri, 15 May 2009 04:44:56 GMT

No. As soon as the account has an associated CO or CA, section 605(c) of the FCRA extends the dropoff date by an additional six months from the DOFD (i.e., to 7 1/2 years).

Re: Help With Different Drop Off Dates

nothingman02 — Fri, 15 May 2009 04:47:55 GMT

Thats correct.

Re: Help With Different Drop Off Dates

nothingman02 — Fri, 15 May 2009 04:50:18 GMT

And being an OC listing the a/c will actually stay longer for upto 10 years if its gonna turn positive eventually but the negatives will start to fall off one by one as they hit the 7 year mark. But whats going on here is the point. WAMU is no more. Chase does not seem to be reporting. Theres a 10000 balance.

Message Edited by nothingman02 on 05-14-2009 09:50 PM

Re: Help With Different Drop Off Dates

Anonymous — Fri, 15 May 2009 04:54:54 GMT

@nothingman02 wrote:
And being an OC listing the a/c will actually stay longer for upto 10 years if its gonna turn positive eventually but the negatives will start to fall off one by one as they hit the 7 year mark. But whats going on here is the point. WAMU is no more. Chase does not seem to be reporting. Theres a 10000 balance.
Message Edited by nothingman02 on 05-14-2009 09:50 PM

Eh just cause it isn't reporting on her CR doesn't mean it isn't on his - if they sold it to a CA and she was just an authorized user then with no financial responsibility for that account there would be no reason for the CA to report on her CR it would just be on his or the OC could just be going after him without the OP knowing anything about it

Re: Help With Different Drop Off Dates

nothingman02 — Fri, 15 May 2009 04:58:31 GMT

Thats exactly what I said earlier susyquk!

Re: Help With Different Drop Off Dates

Anonymous — Fri, 15 May 2009 05:04:27 GMT

No Chase is not reporting anything on mine. I am still listed as a co-obligor as neither I nor my attorney could convince them otherwise and I didn't have the money to file suit on it. What do you mean by your subsequent post that as an OC they could report for 10 years? I thought 7.5 was the longest reporting period? Thanks to all for their responses!

Re: Help With Different Drop Off Dates

nothingman02 — Fri, 15 May 2009 05:12:45 GMT

@Anonymous wrote:
No Chase is not reporting anything on mine. I am still listed as a co-obligor as neither I nor my attorney could convince them otherwise and I didn't have the money to file suit on it. What do you mean by your subsequent post that as an OC they could report for 10 years? I thought 7.5 was the longest reporting period? Thanks to all for their responses!

7 years for an OC baddie. 7.5 years for a CA baddie.

But an OC a/c such as a CC, could stay for as long as 10 years and the baddies would start to fall off at the 7 year mark. Sometimes, in such situations, the drop off dates arent listed on EX and perhaps TU.

However in your case,since the drop off dates are already listed clearly, you dont have to worry. They would have to fall off at the mentioned dates. Keep all the hard copies of your reports. After the drop off dates are past, if the a/c is still being listed, then you can dispute directly with the CRAs.