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HomeCredit ForumCredit repair

Chargeoff help needed

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Subject: Chargeoff help needed
 
 Posted on Tue May 20, 2008 10:49 pm  
I have 2 chargeoffs.

1) Major utility bill for $132. It was last delinquent in 7/1998 and was charged off in 11/2002. It is on my TU and EX reports and was last report 2/2003.

2) Old college bill (non-student loan issue) for $111. It was last delinquent in 2/2002 and charged off in 02/2004. It is only on my EX report and last reported in 10/2004.

I know I cant do data validation with the original creditor. Is my only option on these 2 accounts "paid for delete"?

Thanks... Bubba
 
CMBV22

CMBV22

Joined: 08 May 2008
CMBV22's page
Posts: 271



1751 Magic Points
 
 Posted on Wed May 21, 2008 7:52 am  
1) ANything that originated on your bill after 2001 should fall off. I would suggest calling TU and EX and inquiring into why that remains.

2) You can send Debt validation letters to anyone who outs a negative listing on your CR. They just dont have to prove as many things. I would suggest calling them and working out a Pay for delete arrangement- Getting everything in writing.


whatever you do the debt will fall off your report after 7 years
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scott

scott

Joined: 28 Jun 2006
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Posts: 163



4471 Magic Points
 
 Posted on Wed May 21, 2008 10:48 am  
Charge off remains on your credit report for 7 years from the date of first non payment of your debt and so the charge off of your utility bill should not reflect on your credit report. As it is still showing, you should contact the CRA and ask them for deletion from your credit report. As per the second bill, ie the old college bill, it will reflect for 7 years and will fall off from your credit report somewhere in 2009. As CMBV22 pointed out, you can send a debt validation letter to the CRA and on reply send them a Pay for delete agreement letter.
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SCOTT

Social security, bank account, and credit card numbers aren't just data. In the wrong hands they can wipe out someone's life savings, wreck their credit and cause financial ruin.
 
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