Problem with a dispute

[Anonymous]

Date Opened: 02/2004 Date of Status: 10/2005 Reported Since: 05/2004 Last Reported Date: 04/2011

Type: Credit card Terms: N/A  Monthly Payment: $0 Responsibility: Individual

Credit Limit: $400 High Balance: $782  Recent Balance: $1,661 Recent Payment: $0

This account was open in Feb 2004, I disputed it and when the results came back it said verified and updated. ????????? What should I do Thanks in advance.

[llecs]

---

@Anonymous wrote:

Date Opened: 02/2004 Date of Status: 10/2005 Reported Since: 05/2004 Last Reported Date: 04/2011

Type: Credit card Terms: N/A  Monthly Payment: $0 Responsibility: Individual

Credit Limit: $400 High Balance: $782  Recent Balance: $1,661 Recent Payment: $0

This account was open in Feb 2004, I disputed it and when the results came back it said verified and updated. ????????? What should I do Thanks in advance.

---

What was the basis for the dispute? On the surface I don't see anything wrong. It looks like an unpaid CC CO.

If the goal is to get it off, then send a PFD. Be sure to have the $$$ set aside to PIF if you had if SOL has not expired, lest you could get sued.

Because this TL is reporting a CL, it is factored into utilization. If you were to pay it off, you could see a decent gain because of the utilization...depends on other stuff on your CR.

[Anonymous]

it's has exceeded 7 years

[llecs]

The credit reporting time period (CRTP) of 7-7.5 yrs is set by federal law via the FCRA. The clock on the CRTP starts at the DOFD of a given original debt. In your example, the OC account (a CC) was opened 2/2004. The clock starts ticking at the DOFD though, which isn't listed in your case, and certainly would be after the open date.

You could pull your reports via annualcreditreport.com and you might see the DOFD there. EQ usually lists it and TU and EX will often list a drop off date by which you can count backwards by 7-7.5 yrs to get a rough idea on the DOFD.

I suspect your DOFD is prior to 10/2005, though am not sure without seeing more. If you look at your full reports from the CRAs, another way to find DOFD is to look at the payment history. You'll see "OKs", followed by a 30, then a 60, a 90 and so forth. Assuming you didn't recover after the first late, that first 30 day is the DOFD.

[Anonymous]

thanks budd