@Iluvcruising wrote:Hello. First time posting but have been lurking for a while. Have learned a lot from you wonderful people.
My husband has a personal loan through Avant reporting on Experian that shows a weird payment history. This was removed from TU and Equifax due to aging. He stopped paying in 2016. Experian says it will remain until 10/25.Payment history shows dashes for most of 2018 then OK November 2018, 180 days December 2018, OK for January 2019 and finally 180 days February 2019 until chargeoff. I don't think this reporting makes sense so we disputed and they verified it. I tried attaching a picture but wasn't able to.
Anyone else think this reporting does not make sense? How does one go from OK supposedly to 180 days late in one month and for Experian to allow this kind of reporting?
I don't think it makes sense. But since he stopped paying in 2016, I don't think he can complain. Nevertheless I would send in verification letters every few months until it drops off.
When you say "10/25", are you saying October 25th, 2023, or are you saying October 2025. If the latter, that would be wrong, as it has to be removed no later than 7 years after the first default, which was 2016.
@Iluvcruising wrote:@SouthJamaica I mean October 2025. It is looking like they re-aged the account.
Then that's totally wrong. They're not allowed to report negatives more than 7 years after the date of first default.
@SouthJamaica wrote:
@Iluvcruising wrote:Hello. First time posting but have been lurking for a while. Have learned a lot from you wonderful people.
My husband has a personal loan through Avant reporting on Experian that shows a weird payment history. This was removed from TU and Equifax due to aging. He stopped paying in 2016. Experian says it will remain until 10/25.Payment history shows dashes for most of 2018 then OK November 2018, 180 days December 2018, OK for January 2019 and finally 180 days February 2019 until chargeoff. I don't think this reporting makes sense so we disputed and they verified it. I tried attaching a picture but wasn't able to.
Anyone else think this reporting does not make sense? How does one go from OK supposedly to 180 days late in one month and for Experian to allow this kind of reporting?
I don't think it makes sense. But since he stopped paying in 2016, I don't think he can complain. Nevertheless I would send in verification letters every few months until it drops off.
When you say "10/25", are you saying October 25th, 2023, or are you saying October 2025. If the latter, that would be wrong, as it has to be removed no later than 7 years after the first default, which was 2016.
He has every right to complain. The 7 years of reporting starts on date of first default, if the account is not brought current. Looking at when it's dated to age off, it seems to be based on when the reporting restarted in 2018. Each "OK" is a break in the delinquency chain meaning the DOFD starts at the most current delinquency chain. 7 years from DOFD (January 2018) is 1/2026. Remove the EE allowance of 3 months and it's 10/2025. Or, the whole thing is considered a complete chain and it's considering October 2018 as being the DOFD. Otherwise, it should be falling off this year if never brought current since first defaulting in 2016.
@Brian_Earl_Spilner wrote:
@SouthJamaica wrote:
@Iluvcruising wrote:Hello. First time posting but have been lurking for a while. Have learned a lot from you wonderful people.
My husband has a personal loan through Avant reporting on Experian that shows a weird payment history. This was removed from TU and Equifax due to aging. He stopped paying in 2016. Experian says it will remain until 10/25.Payment history shows dashes for most of 2018 then OK November 2018, 180 days December 2018, OK for January 2019 and finally 180 days February 2019 until chargeoff. I don't think this reporting makes sense so we disputed and they verified it. I tried attaching a picture but wasn't able to.
Anyone else think this reporting does not make sense? How does one go from OK supposedly to 180 days late in one month and for Experian to allow this kind of reporting?
I don't think it makes sense. But since he stopped paying in 2016, I don't think he can complain. Nevertheless I would send in verification letters every few months until it drops off.
When you say "10/25", are you saying October 25th, 2023, or are you saying October 2025. If the latter, that would be wrong, as it has to be removed no later than 7 years after the first default, which was 2016.
He has every right to complain. The 7 years of reporting starts on date of first default, if the account is not brought current. Looking at when it's dated to age off, it seems to be based on when the reporting restarted in 2018. Each "OK" is a break in the delinquency chain meaning the DOFD starts at the most current delinquency chain. 7 years from DOFD (January 2018) is 1/2026. Remove the EE allowance of 3 months and it's 10/2025. Or, the whole thing is considered a complete chain and it's considering October 2018 as being the DOFD. Otherwise, it should be falling off this year if never brought current since first defaulting in 2016.
I guess you're right that the incorrect reporting of payments being made that were not made might confuse the issue. Since no payments were made since 2016, the DOFD is 2016, and the reporting needs to stop in 2023.