BOA/MBNA reporting issue

[Anonymous]

I have a CA entry on my report with Cavalry for an old MBNA account that had a DOFD of July 2002.It shows $2,505 charged off. I also have an entry for BOA for the exact same charge off amount and DOFD. BOA is listed as a regular credit entry. BOA bought MBNA a few years back and assumed all of their debt, thus I got dragged into it. Whats the best way to tackle this and get it off my report?

[Anonymous]

Since the debt is six years old, it's probably not having that great an impact on your FICO.

If you are in a financial position to do so, offer a PFD. $2,505 is not chump change and if you're actually willing to offer a PFD, they should accept it.

OTOH, unless you are making at least $80K or so a year, you've probably got better uses for your money than paying a six year-old CO. It will fall off your report in the summer or early fall of 2009 anyway due to old age.

[Anonymous]

It's not listed incorrectly. charged-off CCs can be listed by the OC as charged-off and then again by the CA. You're not dragged in to anything, the MBNA/BofA/FIA CSNA names are all interchangable. If you need the score increase and it's one of only a very few baddies, AND you have the $$, then maybe try a PFD. Otherwise you can just wait it out til 2009 - you're safe outside SOL so no worries.