Requesting Old Info Removed

[LXRM36]

So I’ve got some accounts from 2012-2015 that are still showing up on my record, even though they’re all at zero, I feel like they could still be negatively affecting my score. Any tips or ideas here???

- Don’t have status for the fancy signature, so this is the best I can do.....
- BOA Auth User - $15.9K
- CO Platinum MC - $2K
- *CLI* BOA Rewards Cash - $3.7K
- CO Visa Platinum - $1.75K
- DESCO FCU - $10K
- Synchrony Value City - $4K
- Best Buy - $3.5K
- Synchrony Care Credit - $2.5K
- Chase Sapphire Reserve - $13.5K
- AMEX BCP - $12K
- Chase Marriott Rewards - $7.5K
- *NEW* Discover it Miles - $10.5K

[RobertEG]

Being at $0 could mean either that the debt has been paid, or that there was a delinquent debt that was sold.

Are any of the accounts showing prior derogs under the payment history, and have all been paid?

[LXRM36]

I can confirm 100% that all have been paid. They are showing zero bal, and I have them showing up different ways using (I assume) different scoring systems. Karma says no derogatory marks. Sesame shows eight; six late payments dating back to Dec 2012, and two collections accounts, both of which are also listed under late payments.

Everything has been paid, and nothing was more than 30 days. As a matter of fact, the two that are listed twice (or in two different areas) were medical accounts that I refused to pay until they sent itemized statements , which they said they did but never did. They requested that I pay different amounts every time they called, and I was starting to think it was a scam. That scam knocked my score down 46 points after working hard for five years to improve my scores. Score rebounded after I begrudgingly paid it, but it has never gotten back up to where it was before.

[pizza1]

Late payments will stay on your reports for 7 yrs from the DOFD, and then will turn into a positive reporting account.

maybe @RobertEG will pipe again with amazing advice/knowledge as always. 

[RobertEG]

Delinquencies in a chain become excluded after 7 years from the date of first delinquency.

That includes both the payment history and any remaining reference to current delinquency.

The account is only excluded at time of exclusion of the delinquencies if it remains delinquent, as the current status would continue to show a delinquency status, which also must be excluded.  That can only be done by excluding the entire account.

If the current status at time of exclusion of delinquencies is a paid status, then removal of the payment history prior delinquencies is adequate to remove all continued reference to the account delinquency, and thus there is no need to exclude the entire account.

The account would remain, and would continue as a postive account until it reaches approx ten years from closure, at which point it is then subjected to the separate removal as a CRA housecleaning policy.

[LXRM36]

Ok, tell me if I’m understanding this correctly. It’s entirely possible that I’m not.

I had two medical accounts go to collection/chargeoff status on Jan 29, 2018, both for $103. There were other accounts tied to that collection agency totaling a little over $1300. They never sent the itemized, but I paid it all IN FULL anyway on about Feb 2, 2018, I believe, fearing they would continue to kill my credit.

Are you saying since I PIF, they will report as positive accounts until they are cleaned out of the system in 7 years or so? Or that it will report as positive in 7 years when it clears?

Sorry, I’m probably making it more complicated than it is.

[thornback]

A paid charge off account will never be positive, it will always be a charge off. It will be removed 7-7.5 years from the date of first delinquency- not the date it went into charge off status. The date of first delinquency is the date the account was first late and never brought current, which led to it being charged off - this is usually about 180 days prior to the charge off date.

Paying it simply keeps the account from being continually updated with negative marks by the OC - allowing it to age. It also removes any balance that may be affecting utilization. A paid charge off looks better to lenders than an unpaid one.

IF the account was brought current prior to being charged off, then closed as a paid account, the account would be in good standing. In this case, it would remain on your report for 10 years and only the late payment history would be removed 7 years after DOFD.

[Anonymous]

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@LXRM36
Are you saying since I PIF, they will report as positive accounts until they are cleaned out of the system in 7 years or so?

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Even if paid off, it would still be a negative account adversely impacting your credit report unless it's removed.

[LXRM36]

What defines an account as a “chargeoff”?

[thornback]

An account enters a charge off status, generally, when it becomes 180 days past due. So 180 consecutive days of non-payment will result in a chargeoff status.

At this point, the creditor will write off the debt as a loss (in their own accounting books) and cancel the account. This write off does not, however, relieve you of the debt owed.