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Just making sure I'm understanding correctly

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Regular Contributor

Just making sure I'm understanding correctly

There's a collection on my acct as follows with all three bureaus.
 
 Credit Account Southern New England Tel
Status as of May, 2008
Date opened Aug, 2001
Date of last activity  Not Reported
Date paid out Not Reported
Date closed Apr, 2002
Account number  XXXXXXXXX
 Loan type  Utility Company
 

Now, since there's no DOLA, it'll fall off 7 years from the date closed, am I correct? I'm not disputing this or doing anything further because if I am, it's going to be gone soon enough.



Message Edited by Kareninaz on 07-03-2008 11:35 PM
My Scores: 7/2 TU 548 EQ 533 EXP 588
8/20 TU 644 EXP 679 EQ 673
Message 1 of 10
9 REPLIES 9
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Frequent Contributor

Re: Just making sure I'm understanding correctly

Does any of your reports show a DOFD? You can't go by date account was closed because that sometimes in wrong. It may fall off sooner than that.
Message 2 of 10
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Moderator Emeritus

Re: Just making sure I'm understanding correctly



Kareninaz wrote:
There's a collection on my acct as follows with all three bureaus.
 
 Credit Account Southern New England Tel
Status as of May, 2008
Date opened Aug, 2001
Date of last activity  Not Reported
Date paid out Not Reported
Date closed Apr, 2002
Account number  XXXXXXXXX
 Loan type  Utility Company
 

Now, since there's no DOLA, it'll fall off 7 years from the date closed, am I correct? I'm not disputing this or doing anything further because if I am, it's going to be gone soon enough.



Message Edited by Kareninaz on 07-03-2008 11:35 PM

Looks like this is reported by the OC, right?
 
Look for DOFD, or look for "this item scheduled to remain until XXXXX"
 
You'll probably have to get your reports directly from the CRA to find this information or call the CRA.  
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Message 3 of 10
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Regular Contributor

Re: Just making sure I'm understanding correctly

Help me please! I got every late off my report and the only negatives are my Kohls on TU and this collection on all 3. Kohls should be reporting any day now and I'm not going to even attempt to GW them until I've made several payments.
 
The above collection is making me impatient though. It's CO and some of the bureaus are still updating it as CO/Late monthly. Plus it was opened around 8/01. The longest SOL for where I was and am now is 6 years. It's due to fall off around Dec 08 at the latest. Is it worth the headache/hassle to try to DV them or dispute this or should I suck it up and wait the next 4 or so months? I don't want to do anything else to ruin all my hard work but if Cap 1 and Applied bank ever get around to updating my balances, one or two of my scores will be even closer to 700 if not over.
My Scores: 7/2 TU 548 EQ 533 EXP 588
8/20 TU 644 EXP 679 EQ 673
Message 4 of 10
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Moderator Emeritus

Re: Just making sure I'm understanding correctly

Do you have a report that came directly from the CRA?
 
Look for DOFD or removal date.
 
A report from a 3rd party site like myFICO or TC won't give this information.
 
If you are eligible you can get your free annual report to check this.
 
If not, there are certain conditions in which you are entitled to a free report.
 
For TU, check here.
 
If you don't meet the requirements for a free report, go here, you will get a report to use for disputing, you don't actually have to follow through on a dispute.
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Message 5 of 10
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Regular Contributor

Re: Just making sure I'm understanding correctly

I actually got the info in the latest post from my Equifax hardcopy report. It says scheduled to remain until 12/08. Maybe there's not much point in disputing since it's gona fall off in 4 1/2 months or so anyway? I guess I can wait as long as it's gone by March/April.
My Scores: 7/2 TU 548 EQ 533 EXP 588
8/20 TU 644 EXP 679 EQ 673
Message 6 of 10
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Moderator Emeritus

Re: Just making sure I'm understanding correctly

Why would you dispute it? Is it reporting accurately?

Kareninaz wrote:
I actually got the info in the latest post from my Equifax hardcopy report. It says scheduled to remain until 12/08. Maybe there's not much point in disputing since it's gona fall off in 4 1/2 months or so anyway? I guess I can wait as long as it's gone by March/April.



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Message 7 of 10
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Regular Contributor

Re: Just making sure I'm understanding correctly

Maybe I'm not understanding properly, but on the EQ hard report, they update the status every month. Are they supposed to do that? The DOLA hasn't changed though. Again, I'm not trying to do anything bad/wrong, just to understand. It's going to be off by the end of the year anyway.
My Scores: 7/2 TU 548 EQ 533 EXP 588
8/20 TU 644 EXP 679 EQ 673
Message 8 of 10
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Moderator Emeritus

Re: Just making sure I'm understanding correctly



Kareninaz wrote:
Maybe I'm not understanding properly, but on the EQ hard report, they update the status every month. Are they supposed to do that? The DOLA hasn't changed though. Again, I'm not trying to do anything bad/wrong, just to understand. It's going to be off by the end of the year anyway.


Leave it be! You don't have much to gain by tinkering with this.
Message 9 of 10
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Moderator Emeritus

Re: Just making sure I'm understanding correctly

I agree with Fused.
 
And yes, as long as they are the collector on the account, they can update monthly.

Kareninaz wrote:
Maybe I'm not understanding properly, but on the EQ hard report, they update the status every month. Are they supposed to do that? The DOLA hasn't changed though. Again, I'm not trying to do anything bad/wrong, just to understand. It's going to be off by the end of the year anyway.



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