cancel
Showing results for 
Search instead for 
Did you mean: 

Repo 7 years old

Auto Loans for ANY Credit Situation. Immediate Response.
Advertiser disclosure
Contributor

Repo 7 years old

Hi guys, Have Repo 06/01/2001 you would think it should be off soon. Nope CA bought it 11/01/2006.
Am I screwed because they bought it and the 7 years starts all over or can I do anything about this?
 
Thank You
Think Ahead of Time.....
Thank You
Think Ahead of Time.......








TU: 590 EX: 521 EQ: 599 08/06/2008
Message 1 of 16
15 REPLIES 15
Frequent Contributor

Re: Repo 7 years old



FreedomTrain wrote:
Hi guys, Have Repo 06/01/2001 you would think it should be off soon. Nope CA bought it 11/01/2006.
Am I screwed because they bought it and the 7 years starts all over or can I do anything about this?
 
Thank You
Think Ahead of Time.....



What is the DOFD?  Should fall off 7-7.5 years after DOFD, not when CA bought the debt.
 
 
v/r
JShidell
Message 2 of 16
Moderator Emeritus

Re: Repo 7 years old



FreedomTrain wrote:
Hi guys, Have Repo 06/01/2001 you would think it should be off soon. Nope CA bought it 11/01/2006.
Am I screwed because they bought it and the 7 years starts all over or can I do anything about this?
 
Thank You
Think Ahead of Time.....



CRTP goes by DOFD, and is 7-7.5 years from DOFD. The OC sets the DOFD and once the account reaches charge off/collection status, it can not be changed.
 
DOFD would be the first missed payment date that led to the charge off/collection/ repo/etc.
 
If the OC is reporting, what DOFD are they reporting? This should be the same for the CA.
 
You may have to pull your reports directly from the CRA in order to find this information.
-----------------------------------------------------------------------------------------------------
Free Annual Reports, Freq. Requested Threads, 5 Things We Don't Talk About, Common Abbreviations, Where do I start?, State Resources
Message 3 of 16
Contributor

Re: Repo 7 years old

You know I did a little research and I still have over a year and half it comes off on 12/2009. But what do I do about the CA it says it will come off 2011
Thank You
Think Ahead of Time.......








TU: 590 EX: 521 EQ: 599 08/06/2008
Message 4 of 16
Contributor

Re: Repo 7 years old

I indeed pulled them direct from the CRA.
Thank You
Think Ahead of Time.......








TU: 590 EX: 521 EQ: 599 08/06/2008
Message 5 of 16
Frequent Contributor

Re: Repo 7 years old

is the CA still reporting a balance?  If so try to PFD.  If you already paid the remaining balance try to GW the CA.
 
As far as the difference in fall off dates between OC and CA i'm not sure.
 
I'm kind of in the same boat.  OC is reporting a 2012 fall off day and CA is showing 2011.  I had a repo back in 2004.  I've been sending GW letters to both the CA and OC in hopes of either the OC removing the negative remarks or the CA deleting their tradline or both.
 
Good Luck
 
v/r
JShidell
Message 6 of 16
Senior Contributor

Re: Repo 7 years old



@FreedomTrain wrote:
You know I did a little research and I still have over a year and half it comes off on 12/2009. But what do I do about the CA it says it will come off 2011





That's a mistake. I don't think I'd dispute it though -- that would tank your score (since when they verify -- even if they correct the drop-off date, FICO will see it as "new").

I'd keep a copy of the CR with the original account in a safe place.

I'd also DV CMRRR the collection agency IF you're out of SoL.

Are you???

~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*

Hubby's FICOs when we started: high 400s (June 2008)
Hubby's FICO NOW (04/06/09): TU: 679 EQ: 608 EX: ???
My FICOs: TU: 643, EQ: 606
Closed on new home: 1/20/2009 -- If we can do it, YOU can do it!!

Message 7 of 16
Contributor

Re: Repo 7 years old

I have done DV to CA and OC. EQ deleted both the CA and OC, TU still fighting and just started with EX. My SOL is 4y so I have yet to fall in that time line since it was 2006 of the CA aquiring it.
Thank You
Think Ahead of Time.......








TU: 590 EX: 521 EQ: 599 08/06/2008
Message 8 of 16
Regular Contributor

Re: Repo 7 years old

I just pulled Experian, and I have a repo that took place 12/02.  The last payment was 8/02.  The one reporting is the OC, but they have the date of last activity as 5/06????
TU has is as DOLA 8/02 and date closed 12/02. (EQ has the same as TU)
 
SOL is way past (3 for DE) but not sure when it rolls off, scard to dispute it.
Your Latest FICO® Scores
TransUnion 704 Date: 5/11/11
Equifax 666 Date: 5/11/11

Message 9 of 16
Senior Contributor

Re: Repo 7 years old


@mberry117 wrote:
I just pulled Experian, and I have a repo that took place 12/02.  The last payment was 8/02.  The one reporting is the OC, but they have the date of last activity as 5/06????
TU has is as DOLA 8/02 and date closed 12/02. (EQ has the same as TU)
 
SOL is way past (3 for DE) but not sure when it rolls off, scard to dispute it.





It should fall off your CRs no later than 7 years and 6 months from the DOFD, which sounds as though it would be 9/02 (since that's the FIRST payment of the LAST delinquency). So it SHOULD fall off 3/10.

Message Edited by Wonderin on 08-06-2008 01:04 PM

~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*

Hubby's FICOs when we started: high 400s (June 2008)
Hubby's FICO NOW (04/06/09): TU: 679 EQ: 608 EX: ???
My FICOs: TU: 643, EQ: 606
Closed on new home: 1/20/2009 -- If we can do it, YOU can do it!!

Message 10 of 16
Advertiser Disclosure: The offers that appear on this site are from third party advertisers from whom FICO receives compensation.