reposession in texas 2007 reported as collection in 2009

[Anonymous]

hello, 

i had a reposession in late 2007. it has since been reporting on my credit report through cavalry portfolio services. i have tried settling this account and been denied. so at this point, im just wanting to find out when is the 7 year mark going to occur. i have know the following according to my documentation and memory.

1. default of the loan in october 2007 when they repossessed the vehicle.
2. they put my car for auction on 12-04-2007 per a letter
3. on 1/09/2008 the gross proceeds from the sale of the collateral was applied to my debt
4. they charged it off on march 03, 2009 and assigned the debt to cavalry portfolio

when is it considered the 7 year mark? i have tried repeatedly to settle with them and have been denied, it is a HUGE sum. What if any experience has anyone had with this sort of thing? where can i find the laws regarding this? any comments are appreciated. this is the biggest of a few collections that i need to clean up, i have gone from 17 collections to 6 and this has been the worst of them all (huge sum and unwilling to settle for what i can afford). i am settling them all slowly. i just dont know what to do!

thank you! 

[RobertEG]

The controlling date for exclusion of both the charge-off and any collection is the DOFD on the OC account.

If the repo occured in late 2007, it most likely was several months late at that point, making the DOFD in early to mid 2007.

Both the charge-off and collection must be excluded from your CR no later than 7 years plus 180 dys from the DOFD.

Exclusion date is thus most likely imminent.

Exclusion of the CO and collection will remove them from scoring, but wont negate the delinquent debt.

While discovery of the delinquent debt will thereafter not be obtained by  a simple pull of your CR, there is still good reason to pay the debt.

It could stlll be made known by means other that a simple pull of your CR, and thus effect a future credit decision.

[Anonymous]

thank you so much Robert. i was lost!