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Old repo reporting inaccurately?

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Regular Contributor

Old repo reporting inaccurately?

I have an old auto repo that is reporting as follows. It is not listed as one of my negative factors. It shows transferred/closed. Also, shows to stay on record until 2016. I know this is not reporting accurately, but it doesn't seem to be reporting negatively either. I think I should leave it alone. Any advice?

 

HSBC AUTO   


 Address:
 6602 CONVOY CT
 
SAN DIEGO, CA 92111
 No phone number available
Account Number:
XXXXXXXX
   
 Address Identification Number:
   XXXXXX  
 Status:
 Transferred,closed.

Status Details:
This account is scheduled to continue on record until Aug 2016.
This item was verified and updated on Aug 2006.
 
 Date Opened:
 07/2001

Type:
Installment

Credit Limit:
$19,521
   Date of Status:
 08/2006
Terms:
60 Months 
High Balance:
NA 
   Reported Since:
 08/2006
Monthly Payment:
$0
Recent Balance:
NA
   Last Reported Date:
 08/2006
Responsibility:
Joint withXXXXXX
Recent Payment:
NA
Message 1 of 4
3 REPLIES 3
Established Contributor

Re: Old repo reporting inaccurately?

I have transfer charge offs zero balances that HELP my scores alot. i am leaving htem untill I have enough stuff to offset the deletion.
6/9/08 FICO TU 697 EX698 EQ 618uti 6% (once new accounts hit) BIZ- DUNS 80, EX 35
GOAL 2008- 700s+ new car
2010 BE a first time buyer
Message 2 of 4
Highlighted
Regular Contributor

Re: Old repo reporting inaccurately?

This one is not reporting as a charge off. It is even listed on EX as an account in good standing.


Message Edited by darrello on 05-20-2008 02:55 PM
Message 3 of 4
Moderator Emeritus

Re: Old repo reporting inaccurately?

I'd leave it alone! It is reporting as a positive account. I assume this segment is from EX. If so, check TU too. That will also give you a drop off date. You'd have to call EQ for their drop off date. From what I read, you paid it off as scheduled in Aug. 2006, 5 yrs after taking out the loan.
 
FICO hosted a webinar last month and very briefly mented repos. They said that a recent 30 day late (ambiguous - recent) weighs more heavily that a repo a few years old.
Message 4 of 4
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