when my credit shows date open 3/00 and last date paid 3/02 does that mean that is stays on from the date of last paid or date open Thanks alot...
Cat
It would be the date of first deliquency. For example, if you were late in February of 2000 and never cuaght up, that date would be your DOFD. I think some say it is 7 years plus 180 days (if I am not mistaken).
So if you have a loan opened in 3/00 and the last date paid shows 3/02 then they go 7 years from 02 which would be on your credit for 9 years then 7. Is this right.
when my credit shows date open 3/00 and last date paid 3/02 does that mean that is stays on from the date of last paid or date open Thanks alot...
Cat
It would be the date of first deliquency. For example, if you were late in February of 2000 and never cuaght up, that date would be your DOFD. I think some say it is 7 years plus 180 days (if I am not mistaken).
7.5 years from DOFD NOT DOLA so you need to be sure when calculating.
So if you have a loan opened in 3/00 and the last date paid shows 3/02 then they go 7 years from 02 which would be on your credit for 9 years then 7. Is this right.
You still have not said the status of the account. If its in good condition, it's 10 years from around the date of last payment.
If its derog, its 7 years from dofd which can be anywhere between 03/02 and i'd say 09/02. You can call the CRA to ask the fall-off date.
they were collection acct that I paid off. Way before I new about pfd and gw letters. Iam new at all this and having a hard time understanding what this all means, thanks for all your help
they were collection acct that I paid off. Way before I new about pfd and gw letters. Iam new at all this and having a hard time understanding what this all means, thanks for all your help
That's a personal choice. You could let it marinate a while then send the GW. Me, I'm a nag, I'd send it, and if they refuse, I'd send one every few months.
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