Pls Help - Charge off Question!

[agforfree5]

I have paid off an old CO account (COed in Sept 2010) . Now, the DOLA & Reported date for the PAID-CO is showing Oct 2012. My question is... does the DOLA or Last Reported date affect scoring ?

Please advise anyone..

[annielorie]

No the DOLA is not important the DOFD is the one that sets the amount of time it can remain on your credit report.  I would start goodwilling and see if you can get it completely deleted.

[agforfree5]

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@annielorie wrote:

No the DOLA is not important the DOFD is the one that sets the amount of time it can remain on your credit report.  I would start goodwilling and see if you can get it completely deleted.

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Thanks annielorie but I already know about DOFD and CRTP. Im asking if the DOLA and/or Reported date being updated to Oct 2012 from Sept 2010 will affect the score, for now a Paid -CO?

[agforfree5]

Bump

[annielorie]

The damage for fico purposes is DOFD if you brought the amount current and then were making payments it might show as new, I believe that it does not effect your fico now start GW'g

[RobertEG]

That question, both as it applies to charge-offs and collections, has been kicked around the forums for years.

Some provide anecdotal statements that updates of DOLA did affect their score, while others swear that it does not.

The answer, at least in the absence of any clarification from Fair Isaac, is.... no definitive answer.

[Shogun]

+1 RobertEG, although the DOFD and CRTP would not change, the DOLA for the most part, would seem non-important.  But I too have seen that the simple updating has dropped and sometimes the paying of the debt has increased scores.  Haven't ever figured out why, FICO mystery I assume.

[agforfree5]

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@Shogun wrote:

+1 Robert, although the DOFD and CRTP would not change, the DOLA for the most part, would seem non-important.  But I too have seen that the simple updating has dropped and sometimes the paying of the debt has increased scores.  Haven't ever figured out why, FICO mystery I assume.

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Ah darn it, I was hoping to get a definite answer on this, like I have in the past for all other questions I post on this forum :-). Anyhow, thank you for your responses Shogun and RoberEG.

So what I can take from this -

The DOLA change to Oct 2012 from Sept 10 (due to a change in status to CO-Paid) has made this Charge off appear as new. This is affecting my FICO scoring more negatively now  than it was when it was reporting Sept 2010. So, I should not have paid this right now if I was looking for a score increase. :-(

[agforfree5]

This one has been a while.. bump