Experian Paid Collections / Charge Off Question

[Anonymous]

Correct. Paid off in full on December 2018 then they were suppose to updated the credit agencies on the first Sunday in Jan 2019.

Either way, the Experian dispute rep told me that I should just leave it and let time have its toll. She said she had seen people try to correct stuff only to backfire and for delinquent payment status update to recent and then the score drops dramatically because it thinks it's a new delinquency. And once that happens, there is no getting it corrected.

So I'm just going to leave it and learn a life lesson I guess.

[Anonymous]

Hi sjt - this is where my confusion is. My original loan from Navient was more than 10 years ago. It then moved to ECMC (collection agency) in 2016. I was able to get Navient deleted without any problem. But I'm being told that the date for ECMC will start from 2016 and not the original loan date with Navient (that was more than 10 years ago and already off my report)

[sjt]

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@Anonymous wrote:
Hi sjt - this is where my confusion is. My original loan from Navient was more than 10 years ago. It then moved to ECMC (collection agency) in 2016. I was able to get Navient deleted without any problem. But I'm being told that the date for ECMC will start from 2016 and not the original loan date with Navient (that was more than 10 years ago and already off my report)

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The collection agency is wrong. They re-aged your account. @RobertEG can you confirm this.

[Anonymous]

Thank you Omar I did miss that above.

Yes @RobertEG will be the best to give the answer as to that, but I believe you’re correct @sjt that it starts from the DOFD.

[Anonymous]

Do you know the DOFD? That’s not the opening date of the loan that’s the date of first delinquency.

[Anonymous]

Assuming our theory is correct, I would let it age until the DOFD Is 7 years, and then I would dispute it to be removed if they don’t delete it.

The recent indicator should be gone
Dec 2020 because that would be two years.

[sjt]

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@Anonymous wrote:
Assuming our theory is correct, I would let it age until the DOFD Is 7 years, and then I would dispute it to be removed if they don’t delete it.

The recent indicator should be gone
Dec 2020 because that would be two years.

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OP said it was a Naviet Loan that was over 10 years (and deleted) that got sold to the collection back in 2016. So the actual DOFD is probably over 7 years.

[Anonymous]

I just looked and the Navient loan was opened 2002. I can try to look up the date of first default but the new account with ECMC (when they bought the debt from Navient) was March 2016. So is that not when the 7 years start? (In March 2016 since that is when ECMC reported it as default first?)

[sjt]

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@Anonymous wrote:
I just looked and the Navient loan was opened 2002. I can try to look up the date of first default but the new account with ECMC (when they bought the debt from Navient) was March 2016. So is that not when the 7 years start? (In March 2016 since that is when ECMC reported it as default first?)

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Question, at the time when your Navient was transferred or sold, were you delinquent? If that is the case, the DOFD should have been when Navient owned the loan.

[Anonymous]

When the loan was opened or sold is irrelevant. We need the date of first delinquency on loan, for the last string of delinquencies.

@sjt I hope you’re right, but it could’ve been 2015 or 16.