Date 'Last Reported'??

[Anonymous]

Hi! 

If in the section of 'Date last Reported' its years ago, does that mean it's a loss and its just waiting to fall off my report? I have some old credit cards from way back that now say balance of $o and last reported 2013. ???

[Adkins]

Date last reported is simply the last time either the creditor or collection agency sent information about the account to the CRAs. This is not DOFD, the date that seven years & 180 days later, it'll fall off your credit report.

[RobertEG]

If the account still has an unpaid debt and the creditor has updated the account to $0 balance, that is their notification to the CRA that they no longer own the debt.  The prior creditor no longer has a horse in the race, and doesnt update an account that is closed and they no longer own unless some clear inaccuracy is found in prior reporting that mandates correction.

It is possible that the new owner may report a collection.

You might contact the original creditor and request the name of the current owner.

If concerned about possible reporting, you can make them a pay for not reporting offer.