CC posting late payments and CO on CR

[LindaLou1]

In 2018 I was laid off which made it impossible to keep up on my CC payments. I sent a letter stating this and said I would continue payments when I got back on my feet.  I have made arrangements with two and was almost ready to take care of the last when they posted to my CR showing late payments starting February of 2020, and CO as of the same date. Can they legally do that??

[FireMedic1]

Yes. It starts with a 30 day late. Then 60, 90, 120 , ect, and then CO. The fall off date is the month/year the first late of the string that appeared on your reports. Thats the DoFD. A couple months here and there doesnt change anything really.

[LindaLou1]

☹️ Go figure  Thank you for answering, I guessed it probably was legal but I had to ask. 
While I have you, maybe you could answer one more for me concerning the same post. It is from a collection agency showing as a CO with all those late payments, then I noticed is is scheduled to drop off my CR in October of this year. What should I do? Ignore it? I haven't acknowledged it, I wanted to check first so I don't make the wrong move.......

[FireMedic1]

CA's dont do charge offs. The original creditors do with the balance as a loss and then it goes to collections. Get your free reports from annual credit reports and look for who owns the debt. If the OC has a balance they own it. If its $0 balance then the CA owns it. Who is the OC and the CA your talking about.

[LindaLou1]

Barclays Bank Delaware & Financial Recovery Services Inc. Barclays shows $1754 as past due and FRS isn't on the report.  And this is another thing I don't understand, which one of the three bureaus do I use? Because they all have different information. EX shows on record till January 2025, TU October 2022, and EQ has no date, but it does show DOFD as March 2018. So when you file a dispute, you file each CB separate, but what date do I use as the correct one?!? I have been seriously thinking of hiring a CRO to do this for me because it's too important to screw up. Just like this latest posting of FRS and TU showing the drop off date as 10/22. Do I ignore them because of that date? And what would happen if I did, and the date of removal isn't till 2025?  What are your thoughts on this ? What should I do?........

[Remedios]

Disputing will get incorrect information removed and all three will show removal date that's approximately 7 years from DOFD or no later than 7.5 years from DOFD 

Additionally, if you were to dispute with single CRA, update will most likely be sent to all three (or CRAs will "share" substantive change" )

The purpose for disputes isn't to get information removed, it is to ensure it gets corrected. 

Credit repair agencies aren't open for discussion here, I'll just state it's the best and fasted way to trash credit even further. 

You're free to dispute but you probably won't like the result when it comes to TU.

[LindaLou1]

So I’m looking at a 2025 for it to drop, which I kinda figured was gonna be the case. Just as long as it helps to get everyone on the same page.  It gets so confusing and makes me wonder why there is no regulation so they are all in unison. Oh well, I won’t hold my breath on that one.

That makes two people I’ve heard that from concerning getting a credit repair company. Im glad I mentioned it! They make it sound so wonderful when you research them, I had no idea. This is all new to me, and every day I learn a title more. I really appreciate your input, and I’m sure I will have a ton more questions so I hope I don’t wear out my welcome. I try to research the forums first to see if the answers are there before I ask, but there are so many places they could be. This website is full of information, I’m glad I found it!

Thank you again 😊