Two items I could use some clarification on....

[willmsbrg]

Good evening folks,

I have two items I was looking for a bit of clarification in regards to EE with both Trans and Experian (not touching Equ).

1st is an account with late payments on a closed account (paid as agreed)

There were 5 months in a row for late payments before being brought current and paid off. 

Trans

Dec 2016 OK

Jan 2017 30 Days

Feb 2017 60 Days

March 2017 90 Days

April 2017  120 Days

May 2017 120 Days

Last Payment made and closed June 23 2017

Experian is same in lates/last payment and closed date.

If I go for EE with both companies using Jan 2017 are they deleted as a whole account or is it going to be a one per month type thing until June 2024 when it completely drops off? 

Is there a best case scenerio to use for Trans and Exp?

My second and final baddie on my reports is a charge off that updates each month like clockwork. 

Trans and Experian both state on report until Feb 2024. Can I still try EE with this for TU (say 5 months) and Exp (just under 3 months)? Again, leaving Equifax to age naturally...

Or would I be poking the bear by asking?

Just an FYI, I live in Pa and the statute of limitations has passed.. 

Thanks in advance!!

[FireMedic1]

EE isnt really for lates. The account will turn paid as agreed once the lates fall off. Which benefits you. EE is more for charge offs, BK's and maybe paid CA's. They'll contact a creditor and they will verify the lates and come back that way and here comes a score drop. Just have to ride it out.

The CO is 6 months early with TU and 3 months with EX.

[willmsbrg]

Aah okay, I didn't realize the EE wasn't made for lates..

Guess that will mean those will be sticking around through May but, once all the lates drop away the paid as agreed should stick around then for a few more years I think which will benefit me longer term. 

How bad of a hit am I currently taking for those lates with a paid and closed account? 

I know the CO is the real score killer...

[FireMedic1]

The CO is over-riding the lates for now. A closed account with no lates stays on a report for up to 10 yrs +/-. I have one for 20 yrs closed. They keep updating it. LOL! Thats fine. It goes by fast. Gone before you know it.

[willmsbrg]

That's good to know at least for reporting purposes... 

Guess I will have to ride out the lates...

By the way, that charge off that's set to drop off in Feb 2024 is carrying a balance.

I don't know if that changes the dynamic on asking for an EE on that account..

[tnhomestead]

Balance or not, the EE will work. Did 2 with balances two years back with no problems.

[FireMedic1]

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@tnhomestead wrote:

Balance or not, the EE will work. Did 2 with balances two years back with no problems.

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@tnhomesteadTU and EX? Or just TU.

[willmsbrg]

I'm curious as well if it worked for both or just TU or EX hopefully both within their timeframe 

[tnhomestead]

Did EE on 2 or 3 accounts, all with balances from portfolio recovery on TU and EX. All came off of my reports. Don't quote me on this but if memory serves had balances of between 200 and 1k on them.