Hyundai Motor Finance Charge-off

[dciples]

Not sure if this would be the right section, but here goes...

I have a Charge-off from Hyundai and want to know when I can have the Credit Bureaus remove this from my credit? Here is the info on my Equifax report (I don't know if it's different on the other two).

Account Number:		Status:	CHARGE-OFF
Account Owner:	Co-maker	High Credit:
Type of Account :	Installment	Credit Limit:
Term Duration:	72 Months	Terms Frequency:	Monthly (due every month)
Date Opened:	11/24/2004	Balance:	$280
Date Reported:	09/24/2012	Amount Past Due:	$280
Date of Last Payment:	08/2007	Actual Payment Amount:
Scheduled Payment Amount:	$384	Date of Last Activity:	N/A
Date Major Delinquency First Reported:	08/2006	Months Reviewed:	20
Creditor Classification:		Activity Designator:	N/A
Charge Off Amount:	$861	Deferred Payment Start Date:
Balloon Payment Amount:		Balloon Payment Date:
Date Closed:		Type of Loan:	Auto
Date of First Delinquency:	02/2006
Comments:	Charged off account

81-Month Payment History

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2012

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2011

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2010

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2009

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2008

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2007

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2006

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30

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60

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2005

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[LIGHTNIN]

Late payments drop off 7 years from the date they occurred.

So your March 2006 30day late will drop off March 2013

April 2006 drop off April 2013

June2006 drop off June 2013

July 2006 drop off July 2013

CO's drop off a CR 7.5 years from the DoFD. Your DoFD is 02/2006, so the drop off is Aug 2013.

Now sometimes a CO doesn't drop off a CR at 7.5 years, instead it turns and starts reporting as a positive for the next 3 years.

I don't understand why it happens to some and not others, I haven't figured that out yet. lol

[Shogun]

+1  This TL is reaching it's end of life.  But you need to make sure your past the SOL.  Some states have SOLs that are longer than the CRTP.