So, here we go. I was looking through my credit report and I found something confusing. I found an account with Comenity Bank/Express, which is an Express clothing credit account, and it has been in a charge off status for about 3 years, so reporting as a C/O from Nov 2015 until Mar 2018 at which point it says closed and doesnt track as a C/O anymore. The remarks say paid in full/was a charge off which I would assume it was sent to a collector? I can not remember for the life of me remember when I opened this account, so I can't even argue it the date is correct, but I feel this was from many more years ago than what is being reported. I can however remember calling and paying it when the account had been charged off, just can't remember when. There are no collections showing on my FICO reports. My scores on FICO sit about Exp-649, TU-665, and EQ-639.
My questions are should I contact this creditor and ask that the C/O be deleted and find out when I paid(as i dont remember)? Or just not poke the bear and take the fact that it says closed in Mar 2018 and wait it out? My TU says it will fall off in 2022. I have several credit cards in good standing and am gardening now and getting my utilization down after some big purchases. Any help or advice is greatly appreciated and this is my first post here as I am finally getting serious about this credit score game. Thanks.
If you are seeking deletion of the account or deletion of the payment history showing of delinquencies, either as monthly delinquencies, such as 90-late CO, then having paid the debt is not basis for deletions of derogs or of the account.
The creditor can report monthly delinquencies until the account is paid, and those derogs remain after the debt is paid.
Your primary issue is apparently the continued showing in your payment history profile of monthly derogs after you assert that the account was no longer in a delinquency status based on your having paid the debt.
Thus, a proper dispute would be based on showing of when you paid the debt, and would dispute the accuracy of the showing of any monthy delinquency status, such as 180+ late or CO, after discharge of the debt. A dispute would not be be based on a lack of deletion of other accurate derogs or of the account itself.
Legit derogs will remain until they reach their credit report exclusion dates of 7 years from initial date of delinquency for monthly delinquencies, and 7 years plus 180 days from DOFD for COs.
To determine when you initially became delinquent, the creditor was required under FCRA 623(a)(5) to have reported the DOFD to the CRA no later than 90 days after their initial reporting of a CO status, so the DOFD will be of record in your credit file.
If your credit report does not show the DOFD, check your free report at annualcreditreport.com or contact the CRA.
That will provide you with both the date that you became delinquent, which should be approx. 120-180 days prior to the date of CO, and the DOFD upon which to calculate the credit report exclusion date of the reported CO.
You could contact Comenity Bank and have them provide you with documents showing when the account was opened and the payments history. I would question the closed date on the report. Usually when an account goes delinquent it is closed then at some point later in time it is charged off providing it was not paid prior. A creditor is not going to write off (charge off) and leave the account open for use. Changing the closed date will not change the score. By the way where did you get the credit report?