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ollvcheer
Joined: 28 Dec 2009
ollvcheer's page
Posts: 4
86 Magic Points
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Subject: Experian Charge Off W/ Expired SOL
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Mon Dec 28, 2009 1:18 am
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BANK OF AMERICA:
Status:
Transferred,closed. $933 written off.
Date Opened:
07/2002
Date of Status:
07/2008
Reported Since:
07/2002
Last Reported Date:
07/2008
Type:
Revolving
Terms:
N/A
Monthly Payment:
$0
Responsibility:
Individual
Credit Limit:
$500
High Balance:
$933
Recent Balance:
N/A
Recent Payment:
N/A
Creditor's Statement:
Purchased by another lender.
Account History:
Charge Off as of Jul 2008, Mar 2004
120 days past due as of Feb 2004, Jan 2004
90 days past due as of Dec 2003
60 days past due as of Nov 2003
30 days past due as of Oct 2003, Apr 2003
STATE OF HAWAII SOL IS 6 YEARS...ANYONE HAVE SUGGESTIONS FOR REMOVAL? |
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ollvcheer
Joined: 28 Dec 2009
ollvcheer's page
Posts: 4
86 Magic Points
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Subject: EXPERIAN Charge Off W/ Expired SOL
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Mon Dec 28, 2009 1:24 am
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| and yes I already have disputed twice with Experian |
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CreditAdvocate
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Subject: Question
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Mon Dec 28, 2009 10:21 pm
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| So, let me see if I understand your situation correctly. This account was opened in 2002 and the account 1st went delinquent in April 2003. The account was brought current and then went delinquent again in Oct 2003. From that point on, the account was never brought current again and was charged off in March 2004. Is this correct? How long has it been since you received the results of your last dispute from Experian. When you received the results, did you send a letter requesting that they provide the documents they used to verify your account, as well as the method and the name, address and telephone of the person at the furnishing end that verified the account. ( this is utilizing the Consumer Disclosures section 609 of the FCRA) I have seen that in 98% of the cases, if the Credit Bureau "verifies" your account and then you send a letter requesting what I mentioned earlier, they will delete the item from your credit report. |
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ollvcheer
Joined: 28 Dec 2009
ollvcheer's page
Posts: 4
86 Magic Points
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Tue Dec 29, 2009 6:50 am
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| you are correct. Can I still send a debt validation letter even though BofA of the OC and not a CA?? |
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fireyone
Joined: 26 Feb 2008
fireyone's page
Posts: 4285
127 Magic Points
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Tue Dec 29, 2009 1:52 pm
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| Yes you can send a letter. I was looking at the dates you provided and it would seem as though the seven year reporting period should be up soon and theis debt will fall off your credit report. Generally I go by the 30 day late to figure out an approximate date of fall off. The date above is Oct.2003 so I would roughly figure that this coming Oct. 2010 the debt will no longer appear on your report. You can continue to try other methods to get it removed but if those fail then I would look at your report in Oct. 2010. If it is still there then dipsute it due to being past the seven year reporting period. |
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goodnatured
Joined: 03 Nov 2007
goodnatured's page
Posts: 3927
10 Magic Points
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Tue Dec 29, 2009 4:15 pm
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I would leave it alone and let it fall off unless you have something pressing that requires that you have it off right now.
My question is, once this falls off, does the credit score automatically go up? If so, how much and how long does it take before you see it on your report? |
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Doc
Joined: 02 Dec 2008
Doc's page
Posts: 184
Location: McKinney, TX
1127 Magic Points
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Wed Dec 30, 2009 2:35 am
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The SOL is one thing... It is 6 years from the date of the first delinquency, or October 2009.
The obsolescence period (7 year reporting with the bureaus) started at the same time, but does not end until October 2010.
_________________
-Doc Compton, Omega Credit Repair
I provide info for free, & all I ask is that you visit my site... I don't wanna sell you anything, I just wanna increase my traffic, and push my site up in the search engine rankings...
http://www.omegacreditrepair.com |
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CreditAdvocate
Joined: 28 Dec 2009
CreditAdvocate's page
Posts: 6
150 Magic Points
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Wed Dec 30, 2009 3:12 am
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Yes, you can send a letter to them, but again I would try redisputing the account and if Experian verifies then send a second letter asking them to provide the documents that used to verify the account, the method of verification they utilized, the name, address, and telephone number of the person at the furnishing source who verified the account. This should do the trick.
As the other members listed, yes waiting could be an option; however, just be advised that items that "just fall off of your report" and that are not deleted more than likely will show up on your credit report if you apply for a loan in excess of 150,000. (Full FACTA)
_________________
CreditAdvocate--Improving Scores and Changing lives!
HERE TO HELP! FREE ADVICE!! NO FEES!! NO HIDDEN AGENDAS! |
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Doc
Joined: 02 Dec 2008
Doc's page
Posts: 184
Location: McKinney, TX
1127 Magic Points
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Wed Dec 30, 2009 3:22 am
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The dollar amount of a loan that a consumer applies for has nothing to do with whether or not an item will appear on your credit.... If it's on your credit, it's on your credit...
_________________
-Doc Compton, Omega Credit Repair
I provide info for free, & all I ask is that you visit my site... I don't wanna sell you anything, I just wanna increase my traffic, and push my site up in the search engine rankings...
http://www.omegacreditrepair.com |
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CreditAdvocate
Joined: 28 Dec 2009
CreditAdvocate's page
Posts: 6
150 Magic Points
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Wed Dec 30, 2009 3:44 am
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Full FACTA's are rarely pulled, but when they are pulled, they are pulled on Mortgage loans starting about in the 150k ball park. Items that are DELETED by the bureaus WILL NOT And DO NOT show up on a FULL FACTA but items that "Just Fall off" many times APPEAR at the bottom of the report and you will have to explain any unpaid debts. Granted the accounts do not negatively affect your score, but it is an indication to the lender or underwriter that you are not as stellar of a loan candidate as your report may show.
_________________
CreditAdvocate--Improving Scores and Changing lives!
HERE TO HELP! FREE ADVICE!! NO FEES!! NO HIDDEN AGENDAS! |
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