When does the clock start ticking for the 7 years for deletion?

[mlearma]

I disputed 2 accounts on my credit file this month.  Both are HSBC credit cards, both have been paid after charge off (due to divorce).  I understood that the 7 years started with the date of first delinquency....3/2005.  So I assumed my seven years should be up and sent a letter to the credit reporting agencies.

Transunion and Experian deleted the files and my scores jumped.

Equifax sent me a letter saying the seven years doesn't start until the date of LAST Activity.  Since I made payment arrangements I didn't pay them off in full until about 8/2006.  Any thoughts on how to get this off?  Equifax claims they will delete next year.

In addition, when these charged off...I paid the balances to a third party and they also put stuff on my credit which has since went away.  Not only did I get double negatives, but why wont Equifax take these off?

I'm near 700 in my scores (from 520 in 2007), and these are the last baddies I have out there.  Any advice would be much appreciated....

Thanks...

[mlearma]

Anyone??

[MarineVietVet]

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@mlearma wrote:

I disputed 2 accounts on my credit file this month.  Both are HSBC credit cards, both have been paid after charge off (due to divorce).  I understood that the 7 years started with the date of first delinquency....3/2005.  So I assumed my seven years should be up and sent a letter to the credit reporting agencies.

Transunion and Experian deleted the files and my scores jumped.

Equifax sent me a letter saying the seven years doesn't start until the date of LAST Activity.  Since I made payment arrangements I didn't pay them off in full until about 8/2006.  Any thoughts on how to get this off?  Equifax claims they will delete next year.

In addition, when these charged off...I paid the balances to a third party and they also put stuff on my credit which has since went away.  Not only did I get double negatives, but why wont Equifax take these off?

I'm near 700 in my scores (from 520 in 2007), and these are the last baddies I have out there.  Any advice would be much appreciated....

Thanks...

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Someone at EQ is either lying or incompetent. Collections and charge offs can report for no longer than 7.5 years from the DoFD (Date of First Delinquency) on the OC account that lead to the collection or CO. DoLA hs nothing to do with this.

You'll need to escalate this with EQ; explaining what FCRA 605(c) actually says about deletion of older collections and CO's:

The 7-year period referred to in paragraphs (4) and (6)6 of subsection (a) shall begin, with respect to any delinquent account that is placed for collection (internally or by referral to a third party, whichever is earlier), charged to profit and loss, or subjected to any similar action, upon the expiration of the 180-day period beginning on the date of the commencement of the delinquency which immediately preceded the collection activity, charge to profit and loss, or similar action.

And it that doesn't work I would notify my state's Attorney General.

[llecs]

EQ reps always feed the line that CRTP starts at the DOLA of a debt. It isn't true. The FCRA says that the clock is 7 to 7.5 years long and starts at DOFD. While the lates are dropping now, I'd give it another month or two for the baddie to go away. Also know that sometimes the negative aspects of the TL (CO references, lates, etc.) will disappear around this time, and the TL can report as a positive for an extended time. I'd pull EQ again on June 1 and see what it says.

ETA....I'm a slow typer.

[RobertEG]

If I had such a letter from a CRA, I would immediately file a complaint with the FTC for blatant violation of FCRA 605(c), and send a cc: to the CRA.

Their DOLA position died back in 1997 when section 605(c) was added to the FCRA to put that very issue to bed.

[mlearma]

My letters are written....based on my rights, this should be gone.

This is exactly how the letter was written from Equifax:

Thank you for your dispute, we have researched your accounts #XXXX and #XXXXX, the results are:  Previously delinquent/adverse accounts that have been paid in full will automatically be deleted seven years from the date of last activity.  If you have additional questions about this please contact: Household Credit Services (address is listed).

Really??  So they are saying I have to wait essentially 8+ years for it to be removed? 

Thanks for everyone's input.

[kjm79]

No they're saying seven years, not eight.  They are just going by the wrong date to start counting those seven years.