I am having a problem with a possibly reaged account from americredit. When I pull me credit report it is showing that from 01/04-03/04 the account was charged off. In 04/04 through 03/09 they are reporting all on time payments and now in 04/09 they are reporting to EQ that that account is charged off.
They also state that the account was closed in 04/04 so why are they still reporting on time payments from 04/04 thru 03/09 and then CO in 04/09. What can I do about this? ANy help is appreciated. Thanks
Re-aging is when the DOFD has been changed.
Have you got reports directly from the CRA that show the DOFD/removal date? If so, is it correct?
If not, then pull your free annual reports-- see link below.
On my 04/08/2009 report EQ is showing the DOFD as 08/2005. On my 4/17/2009 report here is what is showing:
Account Number: 41295XXXX
Current Status: CHARGE-OFF
Account Owner: Individual Account.
High Credit: $20,034
Type of Account: Installment
Credit Limit: $0
Terms Frequency:Monthly (due every month)
Date Opened: 07/2001
Balance: $0 Date
Amount Past Due: $0
Date of Last Payment: 10/2005
Actual Payment Amount: $0
Scheduled Payment Amount: $533
Date of Last Activity: N/A
Date Major Delinquency First Reported:
Months Reviewed: N/A
Creditor Classification: Financial
Activity Description: N/A
Charge Off Amount: $0
Deferred Payment Start Date:
Balloon Payment Amount: $0
Balloon Payment Date:
Date Closed: 04/2006
Type of Loan:
Date of First Delinquency: 08/2005
Comments: Charged off account
81-Month Payment History
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
2009 * * CO
2008 * * * * * * * * * * * *
2007 * * * * * * * * * * * *
2006 CO CO CO * * * * * * * * *
2005 30 * 30 30 * 30 * 30 60 90 60 90
2004 30 30 30 30 * * * * 60 60 30 60
2003 * * * * * 30 30 30 * * * *
2002 * * * * * *
Also they are stating that it is a charge off but are not reporting the CO amount? And if you are 90 days late can you then become 60 days than back to 90 without first becoming 30 days late?
P.S. sorry about the messy payment schedule
The DOFD has not been changed, so it hasn't been re-aged.
Yes, you can be 90 days late and then 60 days late and then 90 days late without being 30 days late in between.
If you owe March, April, and May you are 90 days. If you make a payment, you are then only 60 days late. Miss another and you go back to being 90 days late.
As for them reporting "ok" for so many months and then "CO", I wouldn't worry about it because the account is marked CO and that is what you are getting dinged with, regardless of what the payment history shows.
Sure, technically they are misreporting, but I wouldn't push for them to "CO" for all those months.
I'm not sure if they are required to report the amount that was CO or not.
True I agree with you the CO is what I am getting dinged with but a CO from 2006 has less weight that a CO being reported in 2009. As the CO grows in time the less weight is has in affecting your score.
True, but technically they could be reporting CO each and every month, because it is a CO.
Also EQ deleted this account before and reinserted without properly notifying me in the 5 business days in which thet are required to. Dont they have to receive proper proof when reinserting a TL?
Did they delete it due to a dispute you initiated?
They can report CO after they close the account which was paid in full? Also they never send me a 1099C form not like I think that matters or not.
And yes they reinserted after I disputed and they removed it.
Once an account has been charged off, it is always a CO.
Was it CO before you paid? If so, it is now a paid CO, however it is still a CO account.
If they reinserted without following the proper process, send the CRA a letter notifying them and stating they must remove because they did not follow FCRA.