I have been trying to get an old charge off account removed from my wife's credit report.
I have been following the thread on re-aged accounts without a lot of success.
1st Letter to EX, requested dates obsolence using the wording in the re-aged thread.
Response was we report everything correcting per FCRA, nothing helpful other than a new EX report.
2nd Letter to EX was a dispute, enclosed documentation showing they were wrong.
Response was call us.
So I called and this is interesting.
Account went deliquent in Nov 2000, charged off in May 2001, Settled in Sept 2002.
EX shows only a single entry from GEMB/JCP from Sept 2003 as a charged off account. It does not show any payment history and EX says the account was first reported in Sept 2003 after the charge off.
Since this is the only record from GEMB/JCP they were basing there removal date on 7 years from Sept 2003.
EX claims that the only date they have is reported date of Sept 2003 this was the date they were using to determine obsolence. Based on our telephone call, they were now going to contact GEMB/JCP to update their records with the settlement date. An updated settlement date should delete the entry.
EX seems to be telling me that the settlement date on a collection resets the 7 year reporting time period before the collection is deleted from your credit report. I asked this questions specifically. I was told this was correct since they don't have any payment history. It seems to me that EX is playing games with words, they entered a dispute asking to update their records with the correct settlement date. I am thinking the right thing to do would have been update their records with the date of the first deliquencey that led to the charge off and settlement.
Any thoughts on DOFD vs Settlement Date vs 7 year reporting time period.
Thanks
Message Edited by JJF on 05-18-2009 01:23 PM
