How to remove old baddie from Experian Report?

[Anonymous]

Experian Score from Credit.com is showing one negative item that was paid in full in 12/2010, but was closed with 180 day late/charge off  in 05/2014. As you can see below the account was paid in 2010, early 2011 had "No Data" and then was reported as Closed. AFter that it started appearing as 30,60,90, etc days late. What should I do? Ask Chase to confirm it was closed and paid in full and then go to Experian and tell them it's too old/reported wrong info and shouldn't be there? I attached 1 screenshot with all info. 

 

[Newbie2018]

Dispute the transaction on Experian. There should be an option that says something along the lines of incorrect information or something like that. Why does it show charged off 4 years later then 2010 when it was paid and closed.

[Anonymous]

Very interesting.  I'm having the same issue with Experian right now.  My account was closed and paid in full June 2016.  Then all of a sudden I saw a collections/charge-off for Nov and Dec 2017.  I reached out to the lender and they said they could not update this because it is outside of the dates they serviced the loan and that I should dispute it as inaccurate.  I have done this and even sent in the letter from my lender showing the date it was paid in full.  Experian sent me notification that they are not going to remove it.  It's very frustrating when the proof is there and nothing is being done.  I also asked them how is it that the account has been closed yet something is being reported?  Was it a mistake on their end?  I'm curious to see how you resolve this. 

[Anonymous]

Chase couldn’t do anything.
Called EX they said it should fall off next month. Asked if they could remove it right now. They said yes and they did.

[capricornchanges]

Crissyp, fax and snail mail a letter to experian and let them know you are filing a complaint with CFPB, then go to CFPB's website and file, it should help the process.

[bass_playr]

Here's the thing--never believe a data furnisher if they tell you that they cannot remove the false reporting---if it's reported under their name, then they are the ones who put it there and they are the only ones who can remove it.  It's so specific in the law that even if you show Experian that it clearly must be a mistake, Experian is required by law to report exactly what that data furnisher provides to them, with limited exceptions.  That's someone who is either lazy, not interested in helping, or does not know the correct info to tell you in order to get you the help you need.  I guarantee you, if you disputed it and that creditor verified it as accurate, they would have no problem being able to remove the false info if you sued them.  Most likely you were on the phone with a low-tier employee and this kind of thing is above their pay grade.  You'll also find in some cases that if the move requested does not bring that company money, they are not in any hurry to do it.  

[RobertEG]

As I understand the scenario, the account was delinquent prior to 12/2010, and was then paid.

I also assume that the no new charges or new delinquencies occured after 12/2010.

Under that scenario, the date of first delinquency was prior to 12/2010, which is now over 7 years ago.

Thus, all monthly delinquencies should now be excluded from your credit report under the provisions of FCRA 605(a)(5).

File a complaint with the CRA for their lack of compliance with section 605(a)(5).  The creditor is not involved in credit report exclusion;  that is imposed entirely upon the CRA, and you should contact them for lack of exclusion of the delinquencies.

As for the later-reported charge-off, a CO becomes excluded based only on the DOFD, which is assumed to have been prior to 12/2010.

The fact that it was not reported until 2014 is immaterial to its exclusion, which must be no later than 7 years plus 180 days from the DOFD.

If paid in 12/2010, the DOFD was likely 6'ish months prior, and thus the CO should also now likely be excluded.

Do you have the specific DOFD that was reported by the creditor?  If so, and if it is more than 7 years plus 180 days ago, you can file a complaint for the CRA violation of FCRA 605(c).